All Stories in Economic

Timely progress in structural reforms will support fiscal consolidation.

Timely progress in structural reforms will support fiscal consolidation.

  On December 6, 2017, the Executive Board of the International Monetary Fund (IMF) completed the third review of Sri Lanka’s economic performance under the program supported by a three-year extended arrangement under the Extended Fund Facility (EFF) arrangement. Completion of the review enables the …

Salient Provisions in the Budget for 2018

Salient Provisions in the Budget for 2018

1) Legislative Reforms: The budget has identified the key legislative impediments to the ease of doing business and the efficient utilization of Sri Lanka’s assets. Access to land has been …

Stocks drop

Stocks drop

Sri Lankan shares fell on Friday, weighed down by declines in telecom and banking stocks after the island nation targeted both cash-rich sectors in its 2018 budget to boost revenue. Sri Lanka imposed new taxes on motor vehicles, telecoms, banks and liquor in a bid …

Rates steady ahead of budget

Rates steady ahead of budget

Sri Lanka’s central bank is expected to keep its key interest rates steady on Tuesday to support the sluggish economy despite a pick-up in inflation amid strong credit growth, a Reuters poll showed. All 11 economists in the survey predicted the central bank would keep …

Ensure fiscal consolidation

Ensure fiscal consolidation

The IMF  urged Sri Lanka to continue fiscal consolidation and tighten monetary policy and said it had agreed to delay the next review of its 3-year loan until the government submits the 2018 budget. The 2018 budget should continue fiscal consolidation, supported by the new …

Sri Lanka’s growth to be lowest among key South Asian nations

Sri Lanka’s growth to be lowest among key South Asian nations

Sri Lanka’s economy is expected to grow 4.6 percent this year, but the growth is said to be low compared to other key South Asian countries, a latest World Bank forecast, quoted by a local media report said here Wednesday. The estimated 4.6 percent growth …

Why Sri Lanka needs to boost its ailing private sector

Why Sri Lanka needs to boost its ailing private sector

Sri Lanka experienced strong growth at the end of its 26-year conflict. This was to be expected as post-war reconstruction tends to bring new hope and energy to a country. And Sri Lanka has done well—5 percent growth is nothing to scoff at. However, Sri …

IMF urges Government to implement structural reforms

IMF urges Government to implement structural reforms

A staff team from the International Monetary Fund (IMF) led by Jaewoo Lee visited Colombo during September 18-29, 2017 to hold discussions on the third review of the Sri Lankan authorities’ economic program that is being supported by a three-year Extended Fund Facility (EFF) . …

Implications of new Inland Revenue Act

Implications of new Inland Revenue Act

By Nisha Arunatilake and Priyanka Jayawardena:        Earlier this month, the Parliament passed a new Inland Revenue Act, effective from 1 April 2018. How will the new tax regime affect the tax revenue and what will be the tax burden on Sri Lankan …

Disaster Resilience, Environment Protection Are Critical to Sri Lanka’s Economy

Disaster Resilience, Environment Protection Are Critical to Sri Lanka’s Economy

In response to public interest, the World Bank in Sri Lanka chose to host a dialogue, offering an opportunity for anyone to meet the World Bank team and directly ask questions related to environment protection, disaster risk management and the economy. In fact, the engagement …