Category: Economy
‘s exports: World Bank
Nov 07, 2016 (LBO) – Sri Lanka could grow it exports by encouraging resources to more productive firms through managing urbanization and fostering agglomeration of firms, a World Bank report states. Firms could also invest more in training their workers and managers, with active measures from the government, the report states. “Sri Lanka’s leading firms […]
GSP+ final decision by May 2017, tangible progress needed: EU
Nov 02, 2016 (LBO) – National reconciliation, the empowerment of women and Sri Lanka’s application for the General System of Preferences (GSP+) were the main focus of discussions of the four member delegation of the European Parliament. On GSP+, they stressed that the decision on Sri Lanka’s application will also need the approval of the […]
Monetary policy could still be considered accomodative: Central Bank
Nov 02, 2016 (LBO) – Sri Lanka’s Central Bank said on Tuesday that despite a tightening in interest rates this year, that monetary policy could still be considered accomodative. Growth in credit to the private sector could slow to around 20 percent by the end of the year, from the 27.3 percent in August, Assistant […]
Sri Lanka ranks 31st in Global Youth Development Index
Nov 01, 2016 (LBO) – Sri Lanka has been ranked 31st in the Global Youth Development Index (YDI) 2016 based on a country’s condition for the youth in terms of employment, education, health, civic and political spheres. The YDI is a composite index of 18 indicators that collectively measure multi-dimensional progress on youth development in […]
Sri Lanka seeks to boost capital markets, draw FDI : OBG
Oct 31, 2016 (LBO) – Government commitments to step up privatisation, repair its balance sheet and encourage more listings should help broaden the base of Sri Lanka’s capital markets and draw stronger flows of foreign direct investment (FDI) into the economy, the Oxford Business Group said. In April the Sri Lankan government brokered a $1.5bn […]
Government will bring a people’s Budget: Ravi Karunanayake
Oct 31, 2016 (LBO) – Sri Lanka’s budget for 2017 on Nov 10 will be a people’s budget as it would incorporate ideas proposed from all corners of the country, the Finance Minister said in a statement. “The Ministry of Finance has already received over 2200 proposals from the people. This also includes proposals from […]
Opinion: Budget 2017 expectations, unrealistic or achievable?
Oct 28, 2016 (LBO)- Gearing for the new budget in a few weeks time Finance Minister Ravi Karunanayake is optimistic about Budget 2017. An equity buyout for Hambantota port is on the cards, and the second IMF tranche will be back on track, although continued support for SriLankan Airlines is likely, Karunanayake said, speaking to […]
Sri Lanka Central Bank to keep rates steady ahead of budget
COLOMBO, Oct 27 (Reuters) – Sri Lanka’s central bank is expected to keep its key interest rates steady on Monday, a few days ahead of the national budget and the government’s five-year policy, analysts said. The central bank has already tightened its monetary policy stance three times since December, to fend off pressure on a […]
”’ rank down one notch to 110: World Bank
Oct 27, 2016 (LBO) – The World Bank says Sri Lanka has dropped one place in the “Doing Business ” rank to 110, over the past year, but the island has made progress in two reform areas: starting a business and protecting minority investors. “The improvements, while important, were not enough to stop a decline […]
Sri Lanka to obtain USD75mn credit in SDR from World Bank
Oct 27, 2016 (LBO) – Sri Lanka is to obtain 75 million US dollars as credit of Special Drawing Rights (SDR) from the International Development Association of the World Bank for the Social Safety Nets project. The project which will be implemented from 2017 – 2022 has been designed to improve the equity, efficiency and […]
Sri Lanka targets budget deficit of 4.4-pct for 2017: Minister
Oct 26, 2016 (LBO) – Sri Lanka plans on reducing it’s budget deficit to 4.4 percent in 2017 and curbing its total expenditure by around 10 percent, the State Minister of Finance said. “We propose to cut the budget deficit up to 4.4 percent and curb expenditure through reducing the government expenditure and better financial […]
Sri Lanka delayed VAT debate in Parliament tomorrow
Oct 25, 2016 (LBO) – Sri Lanka’s much delayed Value Added Tax (VAT) amendment bill under the equitable taxation principle will be debated in parliament, Wednesday, the Finance Ministry said in a statement. “The newly proposed VAT system is very simple and transparent,” Ravi Karunanayake, Minister of Finance said in the statement. VAT was introduced […]