Category: Economy
No backward calculation to obtain GDP with pre-decided deflators: Stats Office
July 03, 2018 (LBO) – Sri Lanka’s statistics office rejecting the recent claims on the GDP estimates said it is almost impossible to carry out backward calculations to obtain GDP with pre-decided GDP deflators. Releasing a statement, Department of Census and Statistics (DCS) said it is also not an internationally accepted practice of estimating national […]
Sri Lanka private sector to facilitate skills supply in tourism sector with launch of TSC
Jul 02, 2018 (LBO) – The Private Sector Tourism Skills Committee (TSC) launched Tourism Workforce Competitiveness Road-map in collaboration with the private tourism industry to take on the challenge of demonstrating to Sri Lanka’s young women and men that a career in the fast-growing tourism and hospitality industry can be safe, stimulating, well-compensated and full […]
Treasury puts record straight on central government’s outstanding debt
July 01, 2018 (LBO) – Sri Lanka’s General Treasury says former Central Bank Governor Ajith Nivard Cabraal has tried to present a different and distorted viewpoint on the Central Government’s financial statement in an article published recently under the caption “The Government’s Growth Scam”. The full statement issued by Finance Ministry is reproduced below. General Treasury […]
CB Governor defends Deputy Governor from unfounded allegations
June 28, 2018 (LBO) – Central Bank Governor Indrajit Coomaraswamy on Thursday issued a special statement defending his fellow Central Banker Nandalal Weerasinghe. The statement is a reply to former Finance Minister Ravi Karunananyake who has repeated his allegations in the recent days against Senior Deputy Governor of the Central Bank, Dr. Nandalal Weerasinghe. “As […]
Tackling challenges through reforms crucial for sustained, equitable growth in Sri Lanka
Jun 28, 2018 (LBO) – The World Bank says that although recent policy measures have contributed to macroeconomic stability in Sri Lanka there are still significant risks stemming from both domestic and external fronts with the balance of risks tilted towards downside. “Sri Lanka faces a number of challenges to sustain future economic growth, create […]
Sri Lanka’s outlook remains stable but is conditional on reforms: World Bank
June 28, 2018 (LBO) – World Bank says a challenging domestic political environment has already taken a toll, slowing down some reforms and complicating the stable medium-term outlook and an impending election cycle which will only elevate this risk. World Bank, releasing its June 2018 edition of the Sri Lanka Development Update said the reforms are […]
Central Bank says no involvement in manipulating GDP estimates
June 28, 2018 (LBO) – Sri Lanka’s Central Bank says allegations that the Central Bank is involved in manipulating Gross Domestic Product (GDP) estimates are totally unfounded. Central Bank issuing a statement said the sole responsibility of compiling GDP estimates is vested with the Department of Census and Statistics (DCS) since 2007. “However, the Central […]
IMF working paper suggests new Keynesian models for monetary policy decisions
June 26, 2018 (LBO) – An International Monetary Fund (IMF) working paper released yesterday suggested the Central Bank of Sri Lanka use new Keynesian models for monetary policy analysis and forecasting purposes. IMF working paper said small new Keynesian models, which are increasingly used in central banks for monetary policy analysis and forecasting purposes are […]
Apartments only 1.7-pct of Colombo’s living units: Pradeep Moraes
Jun 26, 2018 (LBO) – Contrary to popular perception, apartments currently account for only 1.7 per cent of Colombo’s residential facilities despite the scarcity of land to cater to rapid urbanisation, an industry leader has disclosed. Representing Altair as a Director of the iconic development and the Condominium Developers Association of Sri Lanka (CDASL) as its […]
Enterprise Sri Lanka to strengthen local entrepreneurs: President
Jun 25, 2018 (LBO) – Sri Lanka’s President Maithripala Sirisena says as we introduce Credit Programmes for entrepreneurs, a joint programme implemented by all the relevant institutions is also needed in a similar manner, to offer a good market and reasonable price for their produce as well as measures to prevent importation of those products […]
Tokyo Cement (TKYO) reports a loss as Sri Lankan construction industry slows in Q1
June 24, 2018 (LBO) – The Central Bank of Sri Lanka recently released its first quarter GDP report. Growth was a tepid 3.2% for the quarter ended March 31, 2018. Digging deeper, one saw a rebound in agriculture with a growth of 4.4%, and services meandering along with the same 4.4% year over year growth […]
Sri Lanka May inflation 2.1-pct, Up from April 2018
Jun 22, 2018 (LBO) – Sri Lanka’s headline inflation measured by National Consumer Price Index (NCPI) rose to 2.1 in May, the Census and Statics Department said Thursday. The NCPI decreased to 1.6 percent in April, lowest since February 2016, from 2.8 percent in March 2018. Compared to month-on-month changes, NCPI in May 2018 has increased […]