Committee forms to monitor economic impact of Middle East crisis

Colombo, March 10 (Daily Mirror) - In response to the ongoing war in the Middle East and its potential impact on the economy, the Sri Lanka government has established an Economic Monitoring Committee to track and address emerging economic challenges.

The conflict in the region has created an unstable global environment, posing risks to Sri Lanka’s small, open economy, which relies heavily on energy imports, remittances from expatriate workers in the Middle East, and trade and investment links with the region.

The proposal to form the committee was submitted by the President and approved by the Cabinet of Ministers. The committee will be chaired by the Minister of Labor, Dr. Anil Jayantha Fernando, and will include the Deputy Minister of Planning, heads of relevant institutions, and experts in economics and related fields.

The committee is tasked with monitoring external economic shocks and recommending measures to safeguard the country’s economic stability.