Uncertain global situation could last two years: CB

27 June 2016 09:02 am - 6 - {{hitsCtrl.values.hits}}

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The uncertain global economic situation triggered by Brexit could last for two years, and Sri Lanka could also be affected by this crisis for such a period, a report submitted by the Central Bank to Prime Minister Ranil Wickremesinghe said.

This report said it would take at least two years for the UK to leave the EU as per section 50 of the Lisbon Agreement and, therefore, the global economic crisis that had already begun would last for two years.

The report ,according to sources in the prime minster's office, said that Sri Lanka would definitely be affected -- as 40 percent of Sri Lanka's exports to Europe go to the UK. Sri Lanka would be affected with the fall of the pound sterling, it said.

It had also said that Sri Lanka would not get the expected advantages from the GSP plus facility.

The report had further stated that several stock markets across the world had been adversely affected.

The report had made certain recommendations, but the sources in the prime minister's office did not reveal them.(Yohan Perera)

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Comments - 6

Missaka Monday, 27 June 2016 09:18 AM

Thanks to UK!!. SL Government got bailed out and has an excuse to cover up economic inability.

Dinesh Monday, 27 June 2016 10:45 AM

OK....Lets blame it on UK.....mmmmm....Dengue is also on the rise....40% exports go to UK....Now UK can import more from SL after the trade agreement is signed, without waiting for permission from EU.

mitigate Monday, 27 June 2016 12:19 PM

So if this is a known fact, then as a government, we should take all necessary measures to mitigate any adverse situation.

kk Monday, 27 June 2016 12:40 PM

earlier dollar case next rajapakse case now euro case to increase TAX via DM Android App

Shelly. Monday, 27 June 2016 01:18 PM

It is beyond my immagintion how a couple of Sri Lankans become over joyed when Sri Lankans face a bleak future. via DM Android App

Sharon Monday, 27 June 2016 03:58 PM

Begging from China will be increased. Morons, got rid of them when the work was already underway. Sad to see the Galleface area with just a mountain of sand.

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Uncertain global situation could last two years: CB

Comments - 6

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