By Rathindra Kuruwita Until Sri Lanka has access to international money markets, which will allow it to ensure there are no short-term dollar shortages, relaxing the restrictions on vehicle imports is out of the question, Professor in Economics at the Department of Economics at Colombo University, Dr. Priyanga Dunusinghe, said. Even then, relaxing vehicle imports […]

State Minister for Tourism, Diana Gamage says nightlife plays a critical role in driving economic growth, citing it as a cornerstone of the night economy. She underscored that the night economy accounts for a substantial 70% of a country s revenue, illustrating its significant contribution

to boost the economy by generating revenue. She made this comment […]

The Maldives is a strategically important nation in the Indian Ocean, now facing a high risk of debt distress due to its increasing proximity to China. The IMF has warned the Maldives that it needs to make urgent policy changes to avoid falling into debt. The Maldivian economy, which is heavily

I became the first person to officially transact using UPI in Sri Lanka on February 12th 2024. In the presence of three heads of states/ governments. Leaders of India, Sri Lanka and Mauritius watched the transaction and celebrated its success with applause. So what is UPI ? How does it benefit indian consumers, merchants and […]

By Shamindra Ferdinando National Freedom Front (NFF) leader Wimal Weerawansa says the proposed Economic and Technology Co-operation Agreement (ETCA) with India should be examined in the context of India’s geopolitical strategy in respect of Sri Lanka. Referring to a recent declaration by SLPP MP Rear Admiral (retd.) Sarath Weerasekera that the government parliamentary group hadn’t […]

President Ranil Wickremesinghe said in Parliamenty yesterday he was aware that Value Added Tax (VAT) was a burden on the public. He said it would be possible to reduce VAT with the passage of time. Delivering the government policy statement at the commencement of the new session of Parliament, the President said: “The prior scarcity […]

Inaugurating the 5th session of the 9th Parliament of Sri Lanka President Ranil Wickremesinghe called upon all lawmakers to collaborate in nation building  even though they would be contesting elections separately. “From ancient times to the present day, our world has encountered a myriad of crises, spanning nations and personal lives alike. While some crises […]

ECONOMYNEXT –An Indian firm is in the process of getting permission to manage Sri Lanka’s three airports including the main Bandaranaike International Airport (BIA) where the there is an over saturation in foreign tourists, Tourism Minister Harin Fernando said. The island nation is expecting 2.2 million tourists for 2024, but the main airport needs capacity […]

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 […]

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 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 […...

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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 […]