The targets laid out in Sri Lanka’s budget for 2024 will be challenging to meet, even with the economic recovery that we expect to continue next year, says Fitch Ratings. The fiscal deficit is set to be wider than our current forecast of 7.1% of GDP in 2024 in light of the new data, even…
By Dr Kapila Fonseka, General Manager – Zincat Technology SMEs and a growing number of startup companies are the foundations on which the Sri Lankan economy rests. These are not mere economic units but rather embody the soul of ingenuity and strength that define Sri Lankans. These enterprises and startups have played a crucial role…
By Manisha Weeraddana In a small roadside hut in Nattandiya, Asoka Malini, a returnee migrant worker, spends her days with a handful of vegetables. She worked for 6 years in Saudi Arabia as a housemaid and a care worker, earning a monthly salary of LKR 20,000. As a mother of two, Asoka now faces an…
SL is begging for wealth. Some citizens suffer in the Middle East to help the effort while others (& some media) make & market internal conflicts to earn wealth. Some import SL conflicts for domestic use. Those who count the number of Chinese ships coming to SL don’t talk about the money ships bring as…
By Kimuthu Kiringoda and Himani Vithanage In Sri Lanka, only 7.7% of working-age females are engaged in formal employment with decent wages and decent working hours. The country’s persistent challenge of low female labour force participation is compounded by a multitude of unique barriers to improving women’s access to decent work. Decent work is multifaceted,…
Latest ‘Mood of the Nation’ poll shows a large reversal in sentiment The approval rating of the government fell from 21% in June 2023 to 9% in October 2023 according to the latest round of the Gallup style ‘Mood of the Nation’ poll of Verité Research. The survey showed that satisfaction with the state of…
What is Stock Borrowing and Lending (SBL)? Stock Borrowing & Lending (SBL) is a mechanism that is introduced by the Colombo Stock Exchange (CSE) through the Central Depository System (CDS) to facilitate the lending and borrowing of shares among investors. SBL involves connecting lenders of shares with borrowers for a pre-determined period and interest rate….
The report is based on extensive analysis, including surveys of over 550 MSMEs across 10 districts One of the main findings indicated that tourism, manufacturing, construction, transport and storage, wholesale and retail trade were among the severely impacted Outlines recommendations to facilitate the growth of MSMEs, focusing on areas that can have a broader impact…
Reuters – Sri Lanka’s key inflation rate rose to 1.5% in October from 1.3% a month ago, the statistics department said on Tuesday. The Colombo Consumer Price Index (LKCCPI=ECI), a leading indicator for broader national prices, tracks inflation in Colombo, Sri Lanka’s biggest city. Food prices fell 5.2% in October after declining 5.2% in September, from…
Shadows loom large as the pendulum swings yet again amid multiple sensitivities Business confidence remains clouded by ongoing developments – and heavily dependent on their outcomes. The IMF’s review of the four-year Extended Fund Facility (EFF), ongoing debt discussions with creditors, rapid disinflation, fluctuating fuel prices and the added complexity of the Israel-Palestine conflict –…
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