Sri Lanka reaches debt restructuring deal with creditor nations: report
Sri Lanka has been informed of an apparent resolution regarding the restructuring of its debt with creditor nations. However, the awaited official confirmation …
Economy
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Public Investment for Closing the SDG Financing Gap: Sri Lankan Perspective
Sri Lanka, like many nations, grapples with the challenge of bridging the gap between aspirations and resources to achieve the United Nations' 2030 Agenda for …
Headline inflation is expected to converge towards 5-pct level over medium term, says CBSL
Sri Lanka's Central Bank says that the spillover effects of tax measures and other developments are likely to be muted due to subdued underlying demand …
Reliefs for Government Servants Extended in Budget 2024
The cost-of-living allowance for public servants will be increased to LKR 17,800 from LKR 7,800 with effect from 01 January 2024 and the payment will commence …
Government urged to crack down on tax evaders instead of taxpayers: Harsha
In a press conference held yesterday, MP Harsha de Silva, Chairman of the Committee on Public Finance, shed light on the government's tax collection efforts, …
Ceylon Chamber Advocates for a Balanced Fiscal Approach Over Proposed VAT rate hike
The Ceylon Chamber of Commerce raises concerns regarding the proposed increase of the Value Added Tax (VAT) to 18%. While recognising the government's …
PUCSL electricity tariff revision discriminatory: Advocata
Electricity tariff design must meet two main objectives: firstly, raising the money needed to pay for the costs of provision, and secondly, sending the right …
World Bank Managing Director Visits Sri Lanka, Stresses Need to Pursue Reforms, Invest in People
World Bank Managing Director for Operations, Anna Bjerde, concluded her four-day visit to Sri Lanka today, encouraging the Government of Sri Lanka to stay the …
Opinion: Reforming tax incentive structure in Sri Lanka
The second tranche of the International Monetary Fund’s (IMF) Extended Fund Facility (EFF) was delayed as the country failed to meet some of the program …
Sri Lanka’s exports dropped by 15-pct in Sept compared to Aug amid decreased demand
Sri Lanka’s merchandise exports decreased by 11.88 % to US$ 951.5 Million in September 2023 compared to September 2022 as per the provisional data released …
IMF Reaches Staff-Level Agreement on First Review of Sri Lanka’s Extended Fund Facility Arrangement
IMF staff and the Sri Lankan authorities have reached a staff-level agreement on economic policies to conclude the first review of the 48-month EFF-supported …
CSE creates awareness on Regulated Short Selling (RSS) through Stock Borrowing and Lending (SBL)
The Colombo Stock Exchange (CSE) conducted a series of virtual workshops and intends to continue more workshops on Regulated Short Selling (RSS) through Stock …
Privatisation is the need of the hour:Advocata
“At the interim budget last year, a list of SOEs reforms were provided to be restructured. 14 months later nothing has changed even in one SOE.”- Prof. …
Lower global growth forecasts for 2023 and 2024: IMF
The World Economic Outlook October Update says global growth is forecast to slow from 3.5 percent in 2022 to 3.0 percent in 2023 and 2.9 percent in 2024. The …
Fitch upgrades Ceylon Electricity Board to ‘BB+(lka)’; Outlook stable
Fitch Ratings has upgraded Ceylon Electricity Board's (CEB) National Long-Term Rating and the rating on CEB's senior unsecure debentures to 'BB+(lka)', from …
IMF & World Bank promote narrow means-tested programs with high error rates: Human Rights Watch
The IMF and World Bank recognize that people need support, but then they promote narrow means-tested programs that—both by design and due to chronically high …
World Bank expects solid growth but risky outlook for South Asia
South Asia is expected to grow by 5.8 percent this year—higher than any other developing country region in the world, but slower than its pre-pandemic pace …
David Cameron kicks off Port City Colombo’s global investment drive
Representatives of top corporations in the UAE, accompanied by high-potential investors, property developers, hotel owners, and leaders in the hospitality and …
SL economy to grow by 1.7-pct:Revenue mobilization fundamental for sustainable fiscal path
Sri Lanka’s economy is expected to grow by 1.7% in 2024 after contracting by 3.8% in 2023, says the World Bank in its twice-a-year update, while signaling …
Sri Lanka slips in economic freedom: Report
Lanka—Sri Lanka ranks 116 out of 165 jurisdictions included in the Economic Freedom of the World: 2023 Annual Report, released by Advocata Institute in …