The IMF has stated that approval of the fourth tranche of Sri Lanka’s Extended Fund Facility (EFF) is contingent upon the implementation of prior actions by local authorities. This includes recently tabled of Budget 2025, which must align with the parameters set under the programme, it maintains. Former Deputy Governor of the Central Bank of…
Sri Lanka’s exports have surged past $1.3 billion in January 2025, marking a strong and promising start to the year! This remarkable growth reflects the resilience, innovation, and competitiveness of Sri Lankan industries, paving the way for sustained economic success. The merchandise export performance in January 2025 amounted to US$ 1,004.82 million, recorded an 3.51…
Majority of the population feels economic conditions ‘getting better’ The government’s approval rating rose sharply after the election, from 24% in July 2024 to 62% in February 2025, when the latest round of the Gallup style ‘Mood of the Nation’ poll was conducted by Verité Research. For the first time since the economic crisis, a…
Verified Market Research® is thrilled to announce the release of its comprehensive and authoritative report on the Tea Extract Market – Size and Forecast. With demand for tea-based products rising globally due to their health benefits, functional ingredients, and increasing consumer preference for natural ingredients, this report provides an in-depth analysis that industry leaders can leverage…
President AKD proposed below legal reforms during his maiden budget speech among other proposals. The Act on the Exchange of Information between State Institutions. Investment Protection Act. State Business Enterprises Management Act. Public Private Partnership Investment Management Act. Statistics Act. Valuation Act. Public Asset Management Act. Public Procurement Law. Micro Finance & Credit Regulatory Authority…
Fitch Ratings: The Sri Lankan government’s budget highlights the authorities’ commitment to raising fiscal revenues as a share of GDP – an approach that, if successful, would alleviate a long-standing weakness in the sovereign’s credit profile, says Fitch Ratings. Nonetheless, risks to the fiscal outlook remain significant, and plans to slow the pace of fiscal…
Fitch Ratings-Hong Kong/London-18 February 2025: The US administration’s inclusion of a broad range of factors in its assessment of whether trade relations with foreign trading partners are fair and reciprocal will increase uncertainty over the scale of tariffs that could be introduced, and which markets could be affected, says Fitch Ratings. Sovereigns that have significant…
By Dr Manoj Thibbotuwawa and Dr Lakmini Fernando Public expenditure on agriculture as a share of total government spending has decreased from 6.4% to 2% between 2014 and 2023. The irrigation subsector receives most of the agricultural spending (41%), with subsidies accounting for a high 26%. Change to funding priorities necessary to address critical concerns….
By Prof. Samitha Hettige Chinese Astronauts (Taikonauts) in Shenzhou -19 recently simulated natural photosynthesis taking the human race one step forward on board China’s space station ‘Tiangong’. They for the first time produced oxygen & the ingredients for rocket fuel. Scientists believe that these are key steps essential for human survival & space explorations. 12…
The members of Tea Exporters Association (TEA) are concerned over the proposed abolition of SVAT from April 2025 as cashless SVAT system (Suspended VAT) provides exporters with a significant level of relief towards the constraints on their cash flow requirements to fund VAT payments on locally sourced inputs. The SVAT was introduced in April 2011 to…
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