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CBSL releases inaugural annual economic review and financial statements for 2023

The inaugural publication under Section 80 of the Central Bank of Sri Lanka Act, No. 16 of 2023 (CBA), namely, the Annual Economic Review 2023, and the inaugural publication under Section 99 of the CBA, namely, Financial Statements and Operations of the Central Bank 2023, were presented to
Ranil Wickremesinghe, the President and Minister of Finance, Economic Stabilization and National Policies, by Dr. P Nandalal Weerasinghe, the Governor of the Central Bank of Sri Lanka, Thursday.

The Annual Economic Review (AER) consists of three chapters: Chapter 1 presents an analysis of the macroeconomic developments and conditions of the financial system of the economy; Chapter 2 provides a review of Central Bank policies, covering the monetary policy framework, monetary policy stance and measures, external sector policies, and financial sector policy measures; and Chapter 3 provides a macroeconomic outlook, covering the global economic environment and the domestic economy.

Furthermore, the AER contains seven box articles on topical themes and
also features a box article on major economic policy measures implemented by or related to the Central Bank.

The report also contains Statistical Appendix tables with selected annual data for the last 5 to 10 years and Special Statistical Appendix tables with selected annual data since 1970.

In addition to the printed version, an online version of the Statistical Appendix (142 tables) and the Special Statistical Appendix (11 tables) is published simultaneously in Microsoft Excel spreadsheet format in all three languages with additional historical data (QR codes and links to access the tables are given in the printed version of the AER).

The Financial Statements and Operations of the Central Bank consists of five sections: Section 1 presents financial statements of the Central Bank including a brief financial review, the report of the Auditor General, statement of financial position, statements of income and cash flows;

Section 2 provides details of the operations of Central Bank during 2023, covering the topics of maintaining domestic price stability, ensuring financial system stability, promoting a progressive and inclusive
financial system, managing currency operations, international engagements, agency functions, and other entrusted responsibilities of the Central Bank; Section 3 explains the arrangement of internal
management functions of the Central Bank including risk management, compliance, internal audit, human capital and general administration;

Section 4 provides information on Board members, Board
sub-committees, principal officers, and other committees of the Central Bank; and Section 5 presents information on publications and data dissemination, regional offices, institutions regulated and supervised by the Central Bank and corporate information.

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