The Cabinet greenlight has been granted to increase the government’s borrowing limit for this year by a further Rs.663 billion to bridge....

While acknowledging the rationale behind the recently proposed higher tax rates, the Ceylon of Chamber of Commerce yesterday urged the government to show greater restraint, accountability and transparency in government spending.

The International Monetary Fund (IMF) expressed “deep” concern about the current situation prevailing in Sri Lanka and said it hopes it will be able to work fast to end the suffering, specially of the country’s poor and vulnerable.

As the International Monetary Fund (IMF) is looking to press for a more effective debt resolution mechanism, it is said efforts are underway to also explore avenues that will help expand donor coordination to middle-income countries such as Sri Lanka

First Capital Research (FCR) forecasts a possible decline in consumer prices starting from October after inflation was believed to have peaked in September due to muted demand conditions and the likely moderation in the supply side price pressures co

Sri Lanka this week gazetted key income tax changes proposed in May, giving effect to a host of personal and corporate income tax hikes while removing concessions and exemptions, with a view to raise government revenues to fix the budget under an Int

Conflicting statements from the Cabinet spokesman and the President’s Media Division over classification of Sri Lanka’s economy....

President Ranil Wickremesinghe, in his capacity as the Finance Minister, recently announced a string of policy measures to defeat stagflation, which could become difficult to be undone if it became more deep-rooted.

President Ranil Wickremesinghe, in his capacity as the Finance Minister, recently announced a string of policy measures to defeat....

Pushing back on growing calls by many to cut rates to ease the pain on households and businesses and thereby kick start growth in the economy, the Central Bank last week defended its tight monetary policy as necessary until it s

Sri Lanka faces hardships in the current economic context; however, the island nation has been successful in braving through the challenges and remaining a favourite destination among the travellers across the world.

The Central Bank, which kept its key interest rates unchanged yesterday to continue with its bone-crushingly tight monetary policy, said a significant deceleration in inflation is expected in the early part of next year, particularly with higher base

With an increasing number of Europeans looking to avoid an expensive winter, due to the skyrocketing energy prices, Sri Lanka’s tourism industry is positioned to grow exponentially in the upcoming winter season, supported by the devalued rupee and

The Cabinet nod has been granted to submit the draft Appropriation Bill for 2023 to parliament with an estimated total expenditure....

The Central Bank is widely expected to hold its key rates steady this week, when the monetary board meets tomorrow (Wednesday) to review its monetary policy for the seventh time of the year, after delivering a cumulative 950-basis-point hike through

Sri Lanka’s official unemployment rate increased in the second quarter ended in June as the unprecedented economic crisis pushed many out of work amid sky-high interest rates, import restrictions, soaring.....

Inflation in capital Colombo, as measured by the year-on-year (YoY) change in the Colombo Consumer Price Index (CCPI), rose to 69.8 percent in September, from 64.3 percent in August, as the crisis-struck nation continues to battle with exorbitant pri

President Ranil Wickremesinghe yesterday said the world is keenly watching how Sri Lanka will recover from the “self-inflicted” economic crisis, the worst in its post-independent history, by negotiating with its creditors for financing assurances

While the pandemic in the last two years created a segment of people identified as ‘new poor’, who were on the brink of poverty, the economic crisis, which soon followed, tipped them down below the poverty line, sending the country’s official p

Sri Lanka recorded its highest merchandise export income so far for this year in the month of August amid increased export...

Sri Lankans could be in for a long drawn-out path out of the economic misery that they have dug themselves into, as the prevailing cost of living crisis could grind on for years with inflation staying higher than the pre-crisis level, even after a ye

Any fund disbursements from the International Monetary Fund (IMF) to crisis-hit Sri Lanka could be at least 3-4 months away from now....

One of Sri Lanka’s most important development priorities must be to grow its stock of decent jobs and ensure inclusive access to them, particularly by women and young people, the International Labour Organisation (ILO) said.

The multiple crises in Sri Lanka have intensified long-standing worrisome features of the country’s labour market, a report by the International Labour Organisation (ILO) revealed.

Sri Lanka will present its programme agreed with the International Monetary Fund (IMF) to its official and private creditors tomorrow for the first time, seeking debt relief, as the US $ 81 billion crisis-hit economy seeks to turnaround its fortunes.

Even after the jumbo hikes in the fuel prices a couple of months ago to bring energy prices to cover full cost and to cut losses at the Ceylon.....

While the broader economy contracted by 8.4 percent in the second quarter ended in June, the construction activities, which contributed an outsize 9.5 percent to the overall economic output, shrank by nearly twice as much as in the same period, indic

The government revenue in the first half of 2022 jumped the most in recent times as Value Added Tax (VAT) and a slew of other taxes were raised effective from June as part of broader fiscal sector reforms....

The budget to host the mega tourism delegation from India, the Travel Agents Association of India (TAAI) convention, is extended by Rs.34 million, due to the escalating cost of operation in the island nation.

Sri Lanka’s Gross Domestic Product (GDP) contracted the most in two years in the quarter ended June (2Q22), the first full quarter since the country plunged into a deep economic crisis followed by social and political upheaval, which disrupted mos