Global growth is showing near-term resilience but with core inflation remaining stubbornly high, central banks will have to continue tightening policy in the coming months, says Fitch Ratings in its June Global Economic Outlook (GEO), released today. With monetary policy adjustments and their impact on the economy proving more protracted, the global growth outlook for 2024…
One-fourth of Sri Lankans are living in poverty, yet more than 50% are not covered by social protection schemes Fragmentation and poor governance have resulted in an inefficient social protection system Increased transparency, inclusion, adaptability, and accountability mechanisms such as citizen engagement are essential for building a better social protection system The COVID-19 pandemic and…
By Prof. Samitha Hettige Trend setter diplomat Henry Kissinger turned 100 last week. He was the top diplomat of the USA & the force behind establishing relations with the Peoples Republic of China (PRC) during Nixon administration (early 1970s). He is considered a lifelong contributor to China US friendship backed by his knowledge on capitalism…
By Imesha Dissanayake The common path followed by almost all IMF member countries in response to sovereign debt crises in recent decades, is to enter into an IMF supported stabilisation and structural adjustment programme. Sri Lanka has been a country that has followed this trend repetitively, having entered into 16 economic stabilisation programmes during 1965-2020,…
As the Sri Lankan economy continues to navigate through challenging times it is crucial for decision makers to carefully consider the impact of lifting the import restrictions on the local tile industry. Traditionally, Sri Lanka has been dependent on imports, but it must transform and cultivate a competitive and superior quality domestic industry. The habit…
The Sri Lanka Chamber of Pharmaceutical Industry (SLCPI) would like to provide the following clarifications to the general public on the ongoing debate and public discussion regarding the pricing of pharmaceuticals. There have been various misleading claims and misrepresentations made by various parties through both mainstream and social media on this subject. While some of…
By Prof. Samitha Hettige The Sri Lankan civilisation has approx 26 centuries of written records. Some others go beyond to Ravana’s aeronautics. It wasn’t a smooth sail but SL gained energy & colour with contributions from Indian, Chinese, Persian, Arab & the western civilisations since colonisation in 1505. Those inputs made new traditions which will…
One of Sri Lanka’s leading research firms, Research Intelligence Unit says plantation companies are very optimistic about the revoking of the ban imposed on the usage of chemical fertilizer and see it as the ex-factor for a production boost in 2023, as compared with 2022. The companies consider labor as a crucial element of their…
A recent nationally representative survey by LIRNEasia, a regional think tank, showed that worryingly, 33% of households in Sri Lanka reduced their food consumption in the 7 days prior to survey implementation due to the economic crisis. Further, in 27% of households, adults restricted their food consumption to allow their children to eat. Dharshani (name…
Land Price Index 2023 According to the 2023 Land Price Index (LPI) developed by LankaPropertyWeb (LPW), Colombo city land prices have shown a 9% increase since the previous year, while the rest of Colombo district, along with Gampaha and Kalutara districts have shown marginal increase or decrease. Overall, Western province has shown a 2% increase…
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