“He who exercises government by means of his virtue may be compared to the north polar star, which keeps its place and all the stars turn towards it.” – Chinese philosopher and educator Confucius (551 – 479 BC). For over 2000 years China has been celebrating the birth anniversary of Confucius on 28th September uninterrupted…
Sri Lanka’s Export Performance in August 2022 Earnings from the merchandise exports increased by 10.24 % y-o-y to US$ 1,213.7 Mn in August 2022 as per the data released by the Sri Lanka Customs. This was mainly due to the increase in earnings from export of Apparel & Textiles. The EDB Chairman & CE, Suresh…
The exclusive index toys with a nation’s resilience and heads south once more Some aspects of daily life have changed somewhat dramatically – most visibly, there’s more vehicular traffic on the streets and less items in a household’s shopping bag. But there is a determination to move forward with the provisions outlined in the interim…
The recent increase in electricity tariffs has drawn opposition from some religious organisations. The increases were necessary because the prices charged to consumers were below cost leading to large deficits. Financing these energy subsidies through money printing contributed to the ongoing balance of payments crisis. Electricity tariffs reflect the relative scarcity of the resources used…
The latest bi-annual Export Barometer Survey indicates that exporters are increasingly concerned about the implications of the expected contraction of the Sri Lankan economy in the latter half of 2022 on export orders, with SMEs particularly vulnerable to the intensifying economic crisis. The third in a series of surveys conducted by the Ceylon Chamber of…
India became the top bilateral lender to SL in 2022 after much needed crisis recovery assistance it provided. The Asian Development Bank is the largest multilateral lender next to India. From 2017 till 2021 China was the largest bilateral lender (Ref. financial sources). Many in the west and some in SL are still worried about the…
UN resident coordinator in SL recently appealed to SL’s friends to donate food, medicine etc. to help SL face the crisis (Ref. Media). There is much discussion on paddy prices and sufficient rice stocks in the coming months. There were also concerns about chemicals mixed with the imported rice. However relevant officials denied those allegations….
Issuing a communiqué, on releasing National Accounts Estimates, the Sri Lanka’s GDP contracts 8.4% in Q2 2022 (DCS) states that the year on year GDP growth rate for the second quarter of 2022 has been estimated as 8.4 percent of negative growth rate, against the value reported in the same quarter in the year 2021. Further,…
Bloomberg – Sri Lanka’s economy likely shrank the most in two years amid a debt crisis that triggered a default and widespread protests that brought the nation to a standstill leading to the ouster of the president. Gross domestic product probably fell 10% in the three months to June from a year ago, according to…
President Ranil W is expected to consult the parliament on electoral reforms and will consult the people direct at a referendum if the parliament doesn’t respond (Ref. Media). An analysis of the Sri Lankan society (since 1931) may indicate that the process of electing officials has been a root cause of all conflicts which fragmented…
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