Sri Lanka's only national business newspaper | Daily FT
WEBSri Lanka Tourism achieves 2023 full year arrivals within first nine months of 2024 . Saturday, 5 October 2024 00:53. Sri Lanka’s tourism industry has achieved a major milestone, surpassing its total arrivals for 2023 within the …
Colombo’s Port City, ‘city of the future’ rising from the sea
WEBDec 28, 2021 · The Port City Colombo project, located near Colombo’s Central Business District, is a large-scale investment project jointly developed by the CHEC and the Sri Lankan Government. It is regarded as a model of cooperation between China and Sri Lanka in jointly building the Belt and Road. Alwis has witnessed the …
Reforming Sri Lanka’s tax system: A path to fiscal stability and ...
WEBOct 17, 2023 · In Sri Lanka, there has been a steady decline in revenue from PIT from 0.9% of GDP in 2000 to 0.2% of GDP in 2022. Revenue collection is lower than that of even other low income economies. Furthermore, PIT tax revenue as a percentage of direct tax revenue declined from 40% in 2000 to 9.3% in 2022, although GDP …
Sri Lanka’s economic crisis requires stronger policy response
WEBMar 22, 2022 · However, in Sri Lanka extremely loose monetary policy due to excessive money printing by the Central Bank of Sri Lanka (CBSL) to finance the Government’s deficit has pushed inflation to double digit levels. Further, core inflation which excludes food and energy has risen to 10.9% in February 2022 reflecting the demand pressures in …
Economy 2024: More challenging than the two previous years
WEBJan 16, 2024 · Sri Lanka has entered 2024 having passed 2022, the year of the severest economic crisis, and 2023, the year of the beginning of economic recovery. Having followed an economic recovery package as agreed with IMF for an extended fund facility or EFF, Sri Lanka should now consolidate its position to retain the hard-earned macroeconomic stability and push the economy to a high growth path needed ...
Three tech trends to ignite the Sri Lankan economy | Daily FT
WEBOct 5, 2021 · Three tech trends to ignite the Sri Lankan economy. Tuesday, 5 October 2021 00:00 - - 2047. Agriculture, which employs 26% of the country’s workforce, is also poised to be impacted by automation technologies. As in most other markets, agriculture in Sri Lanka has been slow to adopt new technologies, but systems that automatically monitor and ...
Gotabaya Rajapaksa: Sri Lanka’s powerful new President
WEBMonday, 18 November 2019 02:03 - - 2808. BBC: Sri Lanka’s new President-elect Gotabaya Rajapaksa is a man who divides opinion. On the one hand, he is hailed by supporters for playing a crucial role in crushing the Tamil Tiger separatist rebels and bringing to an end Sri Lanka’s long-running Civil War …
Policy reform key to attract Foreign Direct Investment and spur ...
WEBJul 29, 2020 · Eight key factors to attract FDIs. 1) Stable Government and Policy. A strong and established government with a clear mandate and investor friendly policy. Government must honour all the terms of the investment agreements. New laws must not detract from what has been granted.
Charting Sri Lanka’s economic future: Current challenges, and ...
WEBDec 29, 2023 · The Sri Lankan economy currently grapples with the significant challenges presented by a complex financial situation unfolding in unprecedented ways. As the country tackles the intricacies of this economic turmoil to overcome fiscal obstacles, there is a prevailing sense of concern among the populace. Against this backdrop, the nation contends with politically motivated decision-making that ...
Investing in real estate in post-pandemic Sri Lanka | Daily FT
WEBMar 16, 2022 · Inflation also recorded a 13-year high in January 2022. In Sri Lanka, historically, investing in real estate has provided a hedge against inflation, especially as investments in monetary assets become less enticing since they hold no intrinsic value, unlike real estate. While local interest rates have risen, they still remain at levels ...