A nation’s budget is not only a statement of income and expenditure but also an instrument for implementing the priorities of the government. Since almost the entirety of resources for social sectors, including for service delivery that is crucial for children’s wellbeing, is funded by public sector budgets, a country’s budget is one of the…
The Silk Road Journal by Mahika Ming The latest addition to the China Pakistan Economic Corridor (CPEC) is the Karachi Coastal Comprehensive Development Zone (KCCDZ). It is expected to create synergy in the BRI and CPEC as per Pakistani sources. The farsighted decision has been taken at the CPEC’s 10th Joint Cooperation Committee Meeting. This…
Sri Lanka’s merchandise exports increased by 35.9% to US$ 1,160.62 Million in October 2021 compared to October 2020 as per the data released by the Sri Lanka Customs. Exports maintained above one billion for the fifth time this year. EDB Chairman & CE, Suresh D. de Mel said, “This is the highest-ever merchandise export figure…
Key Takeaways Achieving the fiscal revenue target will be somewhat challenging given the subdued economic growth next year and the likelihood of import restrictions continuing through 2022. The GoSL’s fiscal space available to boost economic growth via capital expenditure is greatly constrained at the moment by the country’s dire state of the external position. The…
Drivers linked to dissatisfaction with COVID strategy and economic prospects, but opposition failing to benefit The Institute for Health Policy (IHP) today released the first results from the Sri Lanka Opinion Tracker Survey (SLOTS) that was launched to assess public opinion as the country recovers from COVID-19. The new survey shows that increasing numbers of…
Purchasing Managers’ Indices for both Manufacturing and Services activities expanded in October 2021. Indicating a strong revival in manufacturing activities in the country, the manufacturing PMI reached a 7-month high at 60.4 in October 2021. Services PMI increased to 57.9 in October 2021 underpinned by the increases in New Businesses, Business Activities and Expectations for…
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…
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