Tag: economy

Broader and deeper structural reforms in the last two years gave the economy a boost together with progress in peace talks.Central bank governor A S Jayawardene told LBR in an interview that the resilient Lankan economy could post double the current growth if permanent peace is achieved. Following are excerpts of the interview.rn Shamindra Kulamannage: […]

Sri Lankas Tamil Tigers told Norwegian peace brokers Monday they were willing to resume talks based on their plan for self-rule, but warned the new government here not to support renegade rebels.rn The Liberation Tigers of Tamil Eelam (LTTE) told a top Norwegian envoy the rebels were ready to open negotiations with the Sri Lankan […]

The Finance Minister toned down talk of increased spending and a bigger budget deficit, as financial market players expressed concern about the possible economic fall out. rnThe minister pledged policy continuity and said he will keep a close eye on the deficit while emphasizing the need to meet the government revenue targets.rn rnExperts say the […]

Central Bank says the economy will grow at 5.5 percent this year if fiscal discipline is maintained.rnrn Governor A.S.Jayawardene said that ceasefire and strict fiscal discipline helped boost growth to 5.9 percent in 2003 while other economic indicators also improved.rn rnInitially predicted GDP growth rate for 2004 was six percent. However the Central Bank has […]

The government is expected to amend the Value Added Tax Act to legalize the introduction single tax rate despite opposition to the amendments on political platforms. The combined rate for VAT has been effective since the beginning of the year but the amendments to the Act are yet to be approved by parliament.rn rnExperts say […]

Police raided a Tamil journalists home in Colombo Monday night, asrnjournalists around the world celebrated World Press Freedom Day.rnrnThe journalist, Sivaram Dharmeratnam writes the popular lquote Taraki, Tamil affairs column for The Daily Mirror, and also contributes to several Tamil publications. At the time of the raid, only his wife and children were in the […]

rnThe Sri Lankan business community will take lessons from its South African counterparts on how the sector can contribute towards national economic growth while improving social standards. rnA 15-member business delegation will visit South Africa on May 1st on a study tour to examine the South African Business Trust.rnrn rnThe South African Business Trust is […]

Early last year, the government had forecasted a 5.5 percent economic growth. The 5.9 percent year on growth for 2003, is the highest since 2000, when the economy expanded by 6.0 percent.rn rnAfter contracting by 1.5 percent in 2001, the government is forecasting gross domestic product to touch 5.5 percent in 2004.rn rnBut private sector […]

Sri Lankas new government held its first talks with neighbouring India Thursday ahead of plans to revive stalled peace talks with Tamil Tiger rebelsLakshman Kadirgamar, the foreign minister in President Chandrika Kumaratungas government, met Indian leaders on a brief visit to New Delhi before Norwegian peace brokers begin a trip to Sri Lanka at the […]

The United Nations refugees agency said Thursday Sri Lanka risked losing international financial support if it did not pay more attention to resettling nearly 400,000 internally displaced people.A top official of the United Nations High Commissioner for Refugees (UNHCR), Dennis McNamara, said the agency expected the new government to pay “renewed attention” to resolve the […]

Sri Lankan police clamped indefinite curfews and troops poured into a central tea-growing region Thursday after two people were killed in ethnic violence, officials and residents said.rn A curfew was imposed on the picturesque Kandapola region after clashes between the Tamil and Sinhalese communities that left more than 20 shops destroyed, officials said.rn rn They […]

With total State revenue falling by around 18 percent last year, the Asian Development Bank asked the government to pay closer attention to closing tax loopholes and streamline its tariff policies.Unveiling its 2004 Asian Development Outlook, the Manila based bank said government revenue fell to around Rs.248 bn from the projected figure of Rs.303 bn […]