The E-commerce Boom in Sri Lanka: A New Era of Online Business
Introduction E-commerce is booming worldwide, and Sri Lanka is no exception. The rapid growth of digital transactions, mobile penetration, and shifting consumer behavior has propelled online shopping to new heights. With global e-commerce sales expected to reach $8.1 trillion by 2026, businesses in Sri Lanka are racing to adapt to this digital transformation. From small […]
Sri Lanka’s IMF Tranche Approval: Progress, Challenges, and the Road Ahead
Introduction: A Critical Milestone for Sri Lanka’s Economy On February 28, 2025, Sri Lanka achieved a significant milestone (IMF Tranche Approval) in its ongoing economic recovery efforts by securing the approval of the third review under its $2.9 billion Extended Fund Facility (EFF) from the International Monetary Fund (IMF). This pivotal decision led to the […]
Sri Lanka’s Electricity Crisis: Analyzing the Challenges and Charting the Path to Energy Security
Introduction Sri Lanka’s electricity sector is facing a severe crisis, marked by power shortages, financial instability, and dependence on costly fossil fuel imports. The energy sector’s inefficiencies have led to rolling blackouts, increasing electricity tariffs, and a lack of long-term planning. Addressing these challenges requires comprehensive policy reforms, investment in renewable energy, and improvements in […]
What is the Impact of 2025 Budget on the Sri Lankan Economy
Sri Lanka’s 2025 budget, already in effect, marked a critical juncture in the nation’s economic management, particularly in adhering to stringent International Monetary Fund (IMF) guidelines. This budget was instrumental in shaping the country’s approach to fiscal stability and sustainable economic growth. Here, we reflect on the impacts of these policies, highlighting both the achievements […]
The Growth of Tech-Based Businesses in Sri Lanka: What are the Opportunities
In recent years, Sri Lanka has emerged as a burgeoning hub for tech-based businesses, fueled by a combination of government support, a skilled workforce, and strategic partnerships. This growth is not only reshaping the economic landscape of the island but also presenting a plethora of opportunities for entrepreneurs and investors alike. Here, we delve into […]
The Impact of the Budget on the SME Sector in Sri Lanka
Small and Medium Enterprises (SMEs) are the backbone of Sri Lanka’s economy, contributing significantly to employment, GDP growth, and innovation. The annual budget plays a crucial role in shaping the SME sector, influencing business confidence, access to finance, taxation policies, and infrastructure development. This article explores how the latest budget impacts Sri Lanka’s SME sector, […]
Bridging the Deficit: Strategies for Sri Lanka’s Fiscal Stability
In the recent presentation of Sri Lanka’s 2025 budget, the government outlined a series of ambitious policies aimed at economic stability and growth(Fiscal Stability). However, a crucial challenge remains: the fiscal deficit. A fiscal deficit occurs when a government’s total expenditures exceed the revenue that it generates, excluding money from borrowings. Addressing this issue is […]
The 2025 Budget: A Pro-Business Approach with a Focus on Effective Implementation
The 2025 budget has been widely recognized as a market-oriented, pro-business initiative. The sentiment was strongly echoed during a keynote speech at the KPMG 2025 Budget Forum. The focus now shifts to the crucial aspect of implementation, which is pivotal for Sri Lanka’s economic advancement within the next year. The budget appears to break away […]
End-of-Year Tourist Transactions Up by 40% in Sri Lanka This Holiday Season
Colombo, February 05, 2025: Visa (NYSE: V), the global leader in digital payments, today announced that Visa saw a marked uptick in spending by both tourists and domestic consumers in Sri Lanka during the holiday season at the end of 2024(Tourist Transactions). Visa Consulting & Analytics (VCA), Visa’s advisory arm, highlighted key findings of consumer […]
Comprehensive Strategy Announced to Resolve Passport Delays in Sri Lanka
In a promising development for citizens and travelers alike, the Department of Immigration and Emigration (DIE) has pledged to eradicate the extensive passport queues plaguing Sri Lanka by early April(Passport Delays), just in time for the Sinhala and Tamil New Year celebrations. This commitment comes as a relief to many who have faced the brunt […]
