Economic
Debt increased by weaker economy, rupee depreciation last year
Treasury bills and bonds account for 42% of GDP
Obligations of 42 SOEs estimated to be 11.8% of GDP
CPC, CEB and SriLankan losses account for 1.3% of GDP
With fiscal consolidation, debt can drop to 75.4% of GDP in 2024
External debt 59% of GDP, but can reduce to 56% by 2024
But IMF warns deviating from program could see sharp increase in debt
Chinese loans amount to 15% of Govt. external debt, or 7% of total public debt
The Ministry of Health has increased the prices of 60 pharmaceutical drugs which were decreased previously under a price control mechanism.
Looking at opportunities through the crisis period, Galadari Hotel is investing a total of $ 15 million to refurbish its property completely by 2021.
The delay in legalising the VAT reduction from 15% to 5% for travel and tourism businesses has irked the private sector, despite industry efforts for a fast-track revival post-Easter Sunday setback.
The Sri Lankan economy and its tourism sector will be able to withstand the shock from the Easter Sunday terror attacks according to Central Bank Governor Dr. Indrajit Coomaraswamy, who spent most of his career behind the scenes, working meticulously to give strength and structure to a fragile front line market.
The tourism and banking industries yesterday reached consensus over the much-needed relief package at a meeting chaired by the Finance Ministry.
Pakistan exports to Sri Lanka have come to a grinding halt, the Pakistan-Sri Lanka Business Forum announced recently after days of anti-Muslim violence targeting Muslim businesses, homes and mosques.
The last lot in the official list of disgruntled depositors of Golden Key Credit Card Co Ltd (GK) will be getting their 41 per cent repayment of their security deposits soon signalling the end of an over 10-year saga tainted with sorrowful memories, deception, back-stabbing and political interfering.
Sri Lanka ’s manufacturing activities came to a near standstill recording the all-time low performance following the Easter terror attack.
The import levy on big onions has been increased by Rs 20 per kilo, the Minister of Agriculture P. Harrison has said.
REUTERS: Shares closed higher for a second straight session on Friday, moving further away from a near seven-year closing low hit earlier this week, as local investors bought beaten down stocks.
All liquor stores island-wide will be closed for four consecutive days during the Vesak season, the Excise Department stated.
During the first quarter of 2019, the Sri Lanka Telecom Group reported a Net Profit of Rs.2.20 bn which is the highest ever during the first quarter of any year, with a remarkable 86.8% YoY growth compared to the same quarter in 2018.
But pressures will be mitigated somewhat by the renewed IMF program
Warns growth will be slower than projected 3.6%
Tourism decline will hit current account deficit
Debt refinancing vulnerabilities could increase if market confidence undermined for longer
Worries political tensions will resurface as Presidential elections edge closer
The benchmark stock index ended 0.45% weaker on Wednesday at 5,199.98, its lowest close since Aug. 30, 2012.
The apparel export industry is facing several short and long term challenges following the Easter Sunday attacks, the industry officials said.
Central Bank continues its regulatory measures including withdrawal restrictions for deposits and disbursement of loans and advances on the Finance Company which was on the verge of collapse due to liquidity constraints.
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