Category: Economy

The bank said improved economic activity and the promise of a permanent peace, has been clouded by lquote emerging political rivalry quote , jittering investor confidence.ldblquote If it continues, it will impact negatively on the economic front, dblquote the bank said.rn rnReleasing growth numbers for the April-June quarter, the bank said gross domestic product or […]

According to a draft budget tabled before Cabinet on Wednesday, total government expenditure will go up to Rs.656 bn from 413 billion this year. Total revenue is expected to swell to 317bn from 278 bn.rn rnThe government hopes to borrow Rs. 349bn next year, with the overall budget deficit kept at 135bn or seven point […]

Private sector players wanted to see more competition in the Infrastructure fields especially in power and petroleum.rn rnThe private sector was also keen to get involved in policy formulation.rn

Government and LTTE are expected to jointly draw up plans to identify areas for reconstruction and rehabilitation.rn rnBoth parties agreed to focus on improving conditions in the north and east in their first round of peace talks in Thailand.rn rnldblquote We are now in the process on identifying the projects. We are working on donor […]

The cabinet of ministers has also agreed to move to an output based budgeting system in an attempt to create more accountability.rn rnThe government is planning to reduce next year quote s budget deficit from the present eight point five percent of GDP.rn rnPreparing budgets from a Zero base will require ministries and authorities under […]

Peace talks in Thailand wound up Wednesday, with the government and the LTTE making a joint appeal to the international donor community for aid, in the coming months.

Sri Lanka is in line to receive up to US$ 500 mn under the IMF quote s concessionary lending window endash the poverty reduction and growth strategy.rn rnThe team led by Jehangir Aziz also includes the upcoming Sri Lanka quote s resident representative Jeremy Carter.rn rnThe World Bank and IMF will meet in mid-October to […]

The National Physical Planning Department quote s first comprehensive development framework suggests that a massive new metropolis can be built, encompassing Anuradhapura, Polonnaruwa, Dambulla and Trincomalee.rn rnThe first draft of the policy proposal will be shortly forwarded to a high-powered inter-ministerial committee for review. rn rnThe plan is the result of a law passed unanimously […]

The Asian development bank said that it was prepared to offer a technical assistance loan to the government to draw up a blue print for assistance to the war ravaged areas of the country.rn rnOther donors together with ADB on Friday submitted a comprehensive list of on going projects in the north and east to […]

A report of summary findings of development work by the ADB, World Bank, United Nations Organisations and other NGO quote s in the Northeast is to reach the government Friday.rn rnThis will provide an update of what work has already been done to rehabilitate the area with firm pipeline plans of what the Bank is […]

rnThe World Bank recently launched a US$ 100mn Community Development Carbon Fund (CDCF) to take the benefits of carbon commerce down to the grassroots. rn rnThe Fund, launched last week, will provide carbon financing for small-scale projects in rural areas of all developing countries, the World Bank said in a release.rn rnRenewable energy, energy efficiency, […]

The Asian Development Bank (ADB) Monday committed US$ 20 million for the project implemented through the Ministry of Fisheries and Ocean Resources and the National Aquaculture Development Authority.rn rnThe project aims improve food security and reduce poverty by developing model aquaculture and fish processing enterprises that would help increase inland fisheries and aquaculture production. rn […]