By Hiran H.Senewiratne Sri Lanka’s inflation could rise to 7 percent in January 2024 due to the VAT increase, the Governor of the Central Bank of Sri Lanka (CBSL), Dr. Nandalal Weerasinghe warned. Speaking at a special press briefing held yesterday, Dr. Weerasinghe explained that an increase in inflation is likely due to the increase […]

State Minister for Rural Economy K. Kader Masthan, stated that negotiations for releasing lands under the Forest Department for agriculture and tourism have already commenced.

At a discussion at the World Economic Forum (WEF) stakeholder dialogue titled ‘Pulling back from the brink,’ held in Kurpark Village, Aspen, President Ranil Wickremesinghe outlined short-term strategies aimed at revitalizing Sri Lanka’s economy. Emphasizing tourism promotion, agricultural

By Saman Indrajith Forty-eight-year-old Batticaloa District MP Sivanesathurai Chandrakanthan, popularly known as Pillayan, has been shaping the Eastern Province’s political narrative since he was a teenager. He was just 16-years old when he joined the LTTE in 1990 as a child soldier. Since then, he continued to rise in the ranks of the LTTE until […]

By Sanath Nanayakkare When a country is in an economic crisis, it creates an environment conducive to implementing economic reforms which would be difficult to do in good times, however, it still depends on how far the reformist leaders can shape the opinion of the people and the people’s willingness to take those reforms on […]

At a dinner gathering with professionals in Jaffna on Thursday (04), President Ranil Wickremesinghe said that provinces should utilize the powers granted by the 13th Amendment for economic development, asserting that devolution should not merely be a political concept but an economic reality. “If we examine the provisions of the 13th Amendment, there is ample […]

The Pathfinder Foundation has formed a Study Group of Experts to develop a blueprint and framework aimed at doubling Sri Lanka’s economic growth rate through accelerated economic integration and infrastructural connectivity with India. The framework document is expected to be formally launched in March 2024. Most economic forecasts place Sri Lanka on an average growth trajectory of 3% per […...

President Ranil Wickremesinghe announced today that the district decentralized budget for this year amounts to Rs. 11,250 million, marking a significant allocation after a hiatus of three years. The funds are slated to be disbursed to all district secretaries during the initial week of January. This declaration came during a discussion held at the Presidential […]

[…]The post Will David Cameron Apply Magnitsky Sanctions On Sri Lanka After Promoting Investment For Its Controversial Port City Project? appeared first on Colombo Telegraph.

by Ifham Nizam Political instability is one of the biggest stumbling blocks when it comes to managing climate vulnerability, a senior climate scientist has warned. Speaking at a recent symposium titled ‘Poverty Alleviation in an Era of Economic Crisis’, former Director of the Natural Resources Management Centre (NRMC) of the Ministry of Agriculture Dr. Ranjith […]

ECONOMYNEXT –Sri Lanka’s non-performing loans after the latest currency crisis is showing signs of having peaked but some sectors are hit worse than others with problem loans dating back from Coronavirus moratoriums, a banking official said. Hotels, transport and arts and entertainment sectors had bad loans of 30 to 20 percent, while the overall level […]

The Minister of Economy and Planning for the Kingdom of Saudi Arabia. Faisal F. Alibrahim, met with President Ranil Wickremesinghe on Monday (27) at the Presidential Secretariat. During the discussions, Minister Faisal F. Alibrahim emphasized Saudi Arabia’s keen interest in strengthening economic

The Minister of Economy and Planning for the Kingdom of Saudi Arabia, Faisal F. Alibrahim, met with President Ranil Wickremesinghe this afternoon (27) at the Presidential Secretariat in Colombo.

Monday 27th November, 2023 The SJB has commenced collecting signatures for a public petition as part of a campaign to have those who are responsible for the current economic crisis stripped of their civic rights. Given public resentment, which is palpable, the SJB may be able to obtain hundreds of thousands of signatures for its […]

By Amal JAYASINGHE Malé (Maldives) AFP: Rising sea levels threaten to swamp the Maldives and the Indian Ocean archipelago is already out of drinking water, but the new president says he has scrapped plans to relocate citizens. Instead, President Mohamed Muizzu promises the low-lying nation will beat back the waves through ambitious land reclamation and building […]

Minister of Power and Energy Kanchana Wijesekara says that the country has lost an opportunity to support rebuilding the tourism industry and the economy as a result of the decision taken by the International Cricket Council (ICC) to move the Under 19 World Cup to South Africa from Sri Lanka.

Budget 2024 is like a fairy tale rather than a pragmatic solution to pressing economic issues, SLPP MP Dr. Nalaka Godahewa has said. Taking part in the current budget debate, former State Minister said: “Two paramount challenges loom large—the persistent economic contraction and the escalating national debt. A practical budget should provide answers to these […]

During the key note address at the ‘YPO Colombo Experience: Rediscover the Pearl’ conference held on Saturday (18) at the Shangri La hotel Colombo, President Ranil Wickremesinghe revealed his vision for transforming the economic landscape of the region. The President, who held discussions with the new Maldivian President Dr. Mohamed Muizzu, on Friday (17), had […]

Budget highlights Following are the highlights of Budget proposals made by President Ranil Wickremesinghe in Parliament yesterday: New economic and political system The President said in order not to fall back into a crisis, the economic and political system of Sri Lanka must be created anew.  He said that a new social consensus should be […]

* Tax revenue to be raised by 47.1% in 2024 * Rs 10,000 increase for public sector workers * Pensioners to get Rs 2,500 allowance * Rs. 450 bn reserved for bank recapitalization * Four new universities to be established * 20% of state banks to be given off by Saman Indrajith President Ranil Wickremesinghe, […]