Category: Economy
‘s economic growth to remain at 7.5-pct in 2015: ESCAP
May 14, 2015 (LBO) – Sri Lanka’s will maintain high growth rate of 7.5 percent in 2015 on continued strength in private consumption, the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) said. “Growth is expected to remain at the high rates of 7.5 percent in 2015 and 7.6 percent in […]
Sri Lanka Business Chambers welcome govt’s initiative of ease of doing business
May 13, 2015 (LBO) – The Joint Business Chambers of Sri Lanka welcome the initiative taken by the Ministry of Finance to engage in a series of discussions with the public institutions and private sector to address the issues concerning the improvement of Sri Lanka’s Ease of Doing Business Ranking, which now ranked at 99, […]
Sri Lanka’s Treasury has adequate funds to pay govt employees: Finance Minister
May 12, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake said that government has enough money to pay employees’ salaries and for ongoing infrastructure development projects.“We have enough money to pay government employees and for the projects,” Karunanayake said.“But we won’t pay for the projects which have no agreements.” He said this while replying […]
Sri Lanka exports up 5.8-pct in Feb; imports rise at a faster 7.7-pct
May 08, 2015 (LBO) – Sri Lanka’s exports rose 5.8 percent to 891.4 million US dollars in February 2015 from a year earlier driven by apparel exports, official data showed.Apparel exports rose 6.0 percent to 419.9 million US dollars and other industrial exports rose 15.8 percent to 117.6 million US dollars. Petroleum product exports rose […]
Sri Lanka in talks with ADB to double annual funding to $1.2bn
May 08, 2015 (LBO) – Sri Lanka’s new administration is discussing with the Asian Development Bank (ADB) to double its annual funding up to 1.2 billion US dollars, Finance Minister Ravi Karunanayake said.The funds would be utilised by the Government for development initiatives, budgetary allocations, capacity development and debt relief, he said. “We used to […]
Sri Lanka should strive for better balance between social development and wealth creation: Economist
May 05, 2015 (LBO) – Sri Lanka has good social development indicators but lack the appropriate balance between social development and wealth creation, a senior economist said. “Sri Lanka has been extremely successful in terms of social development according to the United Nations Millennium Development Goals (MDGs) but has not been able to achieve the […]
Sri Lanka to maintain mid-single digit inflation levels till end 2015: Central Bank
May 5, 2015 (LBO) – Sri Lanka is expected to maintain single digit inflation until end 2015 and inflation is expected to be maintained in the range of 3-5 per cent in the medium term, Central Bank annual report 2014 said. Meanwhile, annual consumer price inflation is projected at 3.0 per cent in 2015 and […]
Sri Lanka’s BOI to undergo culture and thinking pattern change to up investment
May 05, 2015 (LBO) – Sri Lanka’s investment promotion office, Board of Investment plans to change its culture and thinking pattern to fast track the investment approval procedure in the Island.“What we are trying to change is the overall thinking pattern and the culture where we present ourselves more like a facilitation agency than a […]
Sri Lanka to develop a new policy for investment: BOI Chief
May 05, 2015 (LBO) – Sri Lanka’s Board of Investment said, that it is developing a new policy framework for investments with the help of a panel of experts. “We are in the process of creating an economic investment policy for Sri Lanka,” Upul Jayasuriya, Chairman of BOI told reporters at a briefing held last […]
‘s Central Bank to open a regional office in Kilinochchi
May 04, 2015 (LBO) – The Central Bank of Sri Lanka will be opening its regional office in in Ariviyal Nagar, Kilinochchi on 06th of May, a statement said. The bank will declared open by Minister of Resettlement, Reconstruction and Hindu Affairs D M Swaminathan and Deputy Minister of Policy Planning, Economic Affairs, Child, Youth […]
‘s inflation stable at 0.1-pct in April
Apr 30, 2015 (LBO) – Sri Lanka’s consumer prices rose 0.1 percent in April 2015 from a year earlier, against the 0.1 percent recorded in March, the central bank said.The Colombo Consumer Price Index accelerated 0.2 percent in the month, after recording a 0.4 percent negative acceleration in March. The Index gained 0.4 points in […]
Sri Lanka’s business chamber welcomes Constitutional amendments but cautious about committee stage amendments
Apr 30, 2015 (LBO) – Sri Lanka Ceylon Chamber of Commerce welcomes the enactment of the 19thAmendment to the Constitution, to improve democratic ideals but cautions that the committee stage amendments to increase the number of Parliamentarians in the composition of the Constitutional Council has the potential to compromise its independence. In a statement Ceylon […]