The Ceylon Chamber of Commerce welcomes bold proposals in the budget that align with its recommendations, Sri Lanka Economic Summit discussions, and Vision 2030 goals. The 2025 Budget focuses on stability, governance, public relief, tackling corruption, and driving inclusive growth. The Budget emphasises infrastructure expansion through Public-Private Partnerships (PPPs) and digital economy initiatives, providing a…
Reuters – Sri Lanka’s budgeted expenditure for 2025 will likely lead to a wider fiscal deficit and slower-than-expected fiscal consolidation, Moody’s Ratings said on Tuesday, a day after the island nation unveiled its budget. Sri Lanka aims to transform its crisis-hit economy to prepare to resume debt repayments from 2028, President Anura Kumara Dissanayake said on…
Sri Lanka’s banks have welcomed the maiden budget of the new government, describing it as “positive” and one that seeks to maintain policy consistency, especially on the fiscal path. In a statement, the Sri Lanka Banks’ Association (SLBA), which represents all licensed banks in Sri Lanka, commended the budget proposals presented to Parliament by President…
FITIS Welcomes Budget 2025 President Anura Kumara Dissanayake’s 2025 budget marks a transformative step in Sri Lanka’s economic recovery, placing the digital economy at the core of the nation’s growth strategy. The Hon. President, in his budget speech, affirmed that the growth of the digital economy by 2030 will reach a value of $15 billion…
The Sri Lanka Export Development Board (EDB) successfully organized an awareness seminar on the New Exporter Development Programme on 18th February 2025 at the Techno Park of Eastern University, Sri Lanka, in Batticaloa. This event marked a significant milestone in the EDB’s efforts to enhance the export potential of entrepreneurs in the Eastern Province. The…
Bloomberg – SriLankan Airlines should ideally double its fleet over the next five years, but is constrained by debt issues and the government’s poor financial situation, according to Chief Executive Officer Richard Nuttall. The carrier operates an all-Airbus SE fleet of 24 jets, split evenly between long-haul and short-haul routes. “Ideally our fleet should be…
Sri Lanka’s economic recovery in 2024 marked a significant turnaround, with most sectors of the economy showing positivity in renewal and regrowth. This resurgence, fuelled by Sampath Bank’s strategic focus on innovative solutions and customer centricity, enabled the Bank to perform outstandingly compared to the previous year. Financial Performance For the year ended 31st December…
Net Interest Income – Rs. 13 billion, up by 18% Net Fee and Commission Income – 1.90 billion, up by 24% Operating Profit before Taxes on Financial Services – 7.90 billion, up by 137% Profit before Tax – 6.03 billion, up by 159% Profit after Tax – Rs. 13 billion, up by 123% Total Assets…
Purchasing Managers’ Indices indicate expansions in both Manufacturing and Services activities in January 2025. Sri Lanka Purchasing Managers’ Index for Manufacturing (PMI – Manufacturing) recorded an index value of 59.0 in January 2025, indicating a further expansion in manufacturing activities. All sub-indices contributed positively to this improvement. Most of the survey participants from the manufacture…
Preamble Honourable Speaker, it is our pleasure to present the first National Budget of our Government to this House. The country went through its deepest and most complex socio, economic and political crisis in 2022 since independence. Although the crisis erupted in the year 2022, the underlying causes of the crisis are historical and structural….
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