Dr Dushni Weerakoon Budget 2022 appears to be more of a stop-gap budget rather than one that sets out a framework on how revenues will continue to be mobilised and deficit financing requirements met over time. It seems that the government is hedging its bets on economic growth creating revenues, but with inflation set…
• Immediate one-off impact for large companies akin to the super gains tax seen in 2015; focus on building medium term stability • Government plans on balancing consumption driven growth with ambitious revenue targets • If successful, the introduction of green bond financing is a potential USD inflow avenue The incumbent Government set out the…
The Silk Road Journal by Mahika Ming The 2021 Belt and Road International Regatta was held in The 2021 Belt and Road International Regatta was held in Beihai, China from the 4th till 12th of November. Beihai is in the Guangxi Zhuang Autonomous Region in the south of the Peoples Republic of China (PRC). The Belt…
By Sathya Karunarathne Introduction Successive governments have run fiscal deficits. Inadequate revenue collection and unrestrained government expenditure have worsened the country’s fiscal position. Tax revenue which averaged over 20% of GDP in 1990 has declined to under 10% of GDP in 2020. Ad hoc tax policy changes have significantly eroded the tax base. Weak tax…
PublicFinance.lk – The infographic shows the actual annual foreign debt service payments of GOSL (Government of Sri Lanka) from 2010 to 2020 and the projected foreign debt service payments from 2021 to 2025. The breakdown of foreign debt service between principal payments and interest payments is provided. During the period from 2010 to 2018, the…
Exclusive Interview with Ajith Fernando, CEO – CAL Group Having established itself as the preferred, full-service Investment Bank in Sri Lanka, the CAL Group is expanding into overseas markets such as Bangladesh. As the Group takes its first international steps forward as part of the Group’s expansion strategy, we sat down with Ajith Fernando, the…
Perceived Economic Opportunity Index 2021 [PEOI] Q3: July to September, 2021 This quarter marks the entry in to the second decade of tracking the perception of economic opportunities among the people of Sri Lanka. This unique measurement is based on the calculation of the Perceived Economic Opportunity Index (PEOI) developed by the Foundation of Economic…
Data shows every year 38,000 crashes cause 3,000 deaths and 8,000 injuries Road crash fatalities and injuries could cost countries like Sri Lanka between 3-5% of their GDP annually $2 billion additional investment needed to combat road safety crisis Priyantha Fernando* (34) was heading home after a typical day’s work when his motorcycle crashed into…
PublicFinance.lk – Net Foreign Assets (NFA) of a country’s monetary authority refers to the difference between gross foreign reserve assets and liabilities related to foreign reserves. Typically, such liabilities include the Central Bank’s liabilities to the IMF, swaps, and any other reserve related liabilities. In August 2021 the Central Bank’s NFA was LKR –84 billion….
A twin deficit problem For much of its post-independence period Sri Lanka has been characterised by twin deficits: fiscal deficits and deficits in the external current account. What this implies is the country spends more than it earns and consumes more than it produces. The two deficits are linked because the deficit in the external…
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