Category: Policy
World Bank forecasts Sri Lanka’s growth at 3.3-pct in 2020
Jan 14, 2020 (LBO) – The World Bank has forecast Sri Lanka’s economic growth for 2020 at 3.3 percent, the bank said in a statement. In its latest report of “World Bank’s January 2020 Global Economic Prospects,” the World Bank said for 2021 and 2022, it maintains the same forecast of 3.7 percent of economic […]
CB Chief urges Sri Lanka banks to rethink its credit disbursement policies
Jan 06, 2020 (LBO) – Central Bank Governor Professor W D Lakshman urged Sri Lanka’s banking sector to rethink its credit disbursement policies, as the traditional ‘risk averse’ mindset has deprived emerging entrepreneurs and new ventures of much needed initial capital. Announcing the road map of the Central Bank for this year, Lakshman said credit […]
First Capital Research trims down its rate cut probability to 50-pct
Dec 24, 2019 (LBO) – Considering the recent major policy changes, First Capital Research has trimmed down its rate cut probability to 50 percent from the previous expectation of 100 percent probability, specifically due to the tax benefits, moratorium on loans and easing of capital adequacy to stimulate the consumer demand and revive growth in […]
Sri Lanka economy boosted after election by local investor activity: ICRA
Dec17, 2019 (LBO) – Sri Lanka’s overview activities in the economy improved post presidential election driven by positive sentiments from the local investors, a rating agency said. “Bourse saw gains especially in manufacturing, trading, power & energy, and beverage, food, & tobacco sectors,” ICRA Lanka Limited, subsidiary of ICRA limited, a group company of Moody’s […]
National policy framework of Government released via Treasury web site
Dec 16, 2019 (LBO) – The Government’s new National policy framework Vistas of Prosperity and Splendour has been released to the internet via Treasury website www.treasury.gov.lk. This is aimed at achieving the fourfold outcome of being a productive citizen, a contented family, a virtuous, disciplined and just society and a prosperous nation. Accordingly, it is […]
Sri Lanka should list SoE and increase transparency
Dec 11, 2019 (LBO) – A top emerging markets investor said the Government should look at listing state enterprises to attract capital. He said that it will expose their balance sheets and open them for scrutiny. “Sri Lanka Insurance, state banks, rail and airport would be a good start.” Dr. Mark Mobius, speaking at a […]
Fiscal stimulus will boost demand in short-run but create instability in long-run: ICRA
Dec 11, 2019 (LBO) – The Government of Sri Lanka (GoSL) reduced variety of taxes substantially in an attempt to revive the economy, which could possibly cost over LKR 500 Bn according to government’s own estimates. Whilst acknowledging the potential boost to the aggregate demand and corporate profitability from the fiscal stimulus in the short-run, […]
Sri Lanka tax cuts to shave off Rs560bn govt. revenue in 2020: Asia Securities
Dec 10, 2019 (LBO) – Sri Lanka’s recently announced tax cuts will likely shave off 560 billion rupees from government income in 2020, launching its equity outlook report for next year, Asia Securities Research said. Even though a pick up in consumer activity and higher collections compared to 2019 will lead to a partial clawback, […]
Sri Lanka aims at 6.5-pct GDP growth from 2020
Dec 09, 2019 (LBO) – Sri Lanka’s economic activity will pick up following a series of tax cuts and the expansion of economic activity will boost Gross Domestic Product growth to reach 6.5 percent from 2020 onwards, a senior official said. “Sri Lanka’s new government headed by President Gotabaya Rajapaksa in the short-term has to […]
Dushni Weerakoon highlights critical role tax policies can play to spur economic growth
Dec 06, 2019 (LBO) – Executive Director of the Institute of Policy Studies of Sri Lanka (IPS), Dr. Dushni Weerakoon this week highlighted the critical role tax policies can play in spurring economic growth of a country, specially a developing country. Addressing the 23rd Annual Oration on Taxation organized by the Institute of Chartered Accountants […]
Sri Lanka Y-o-Y inflation down to 4.4-pct in Nov 2019
Dec 02, 2019 (LBO) – The yer‐on‐year inflation as measured by CCPI is 4.4 percent in November 2019 and inflation calculated for October 2019 was 5.4 percent, the Department of Census and Statistics said. Year on year inflation of food group has decreased from 6.8 percent in October 2019 to 4.6 percent in November 2019 […]
‘s Central Bank to remain unchanged
Nov 29, 2019 (LBO) – The Monetary Board of the Central Bank of Sri Lanka has decided to maintain its accommodative monetary policy stance. Accordingly, the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) will remain at their current levels of 7.00 percent and 8.00 percent, respectively. The Board said it […]