Sri Lanka’s Debt Restructuring with Japan: A Leap Towards Economic Stability
Sri Lanka is poised to finalize a landmark agreement on debt restructuring with Japan, a move that marks a significant milestone in the island nation’s journey towards economic recovery and stability. This step forward comes after the Sri Lankan Cabinet of Ministers gave the green light to sign crucial documents with the Japan International Cooperation […]
Unprecedented Growth in Sri Lanka’s Aviation Sector in 2024
In an impressive stride forward for Sri Lanka’s aviation industry, 2024 has been marked by a record-breaking increase in passenger, aircraft, and cargo movements, showcasing a significant recovery and growth since the challenges of the past years. Soaring Numbers: A Testament to Resilience The Airport and Aviation Services (Sri Lanka) Limited (AASL) reported remarkable figures […]
The Impact of SVAT Abolition on Sri Lanka’s Tea Industry
Introduction Sri Lanka’s tea industry, a cornerstone of its economy, is facing a potential crisis with the proposed abolition of the Suspended VAT (SVAT) system. This move, set to take effect from April 2025, has significant implications for tea exports and the livelihood of nearly 480,000 smallholder farmers who depend on this sector. In this […]
Sri Lanka Economy on the Path to Stabilization
As 2025 unfolds, Sri Lanka economy is showing promising signs of stabilization and growth, setting a hopeful tone for the remainder of the year. Here’s a look at the key economic trends and government strategies shaping the nation’s future. Fiscal Management and Economic Recovery The Sri Lankan government has been successful in managing its fiscal […]
Sri Lanka’s Export Earnings Reach New Heights in 2024
In a remarkable display of economic resilience and strategic execution, Sri Lanka’s export sector achieved an all-time high in 2024, with cumulative export earnings soaring to $16.17 billion. This historic milestone represents a 7.06% increase from the previous year, signaling a robust recovery and promising future for the nation’s economy. A Year of Unprecedented Growth […]
Sri Lanka Introduces Free Visa Entry to Boost Tourism
In a significant move to bolster tourism, Sri Lanka’s Tourism Minister, Vijitha Herath, has announced a progressive visa policy that will soon allow nationals from 39 countries to enter Sri Lanka without a visa. This strategic decision is expected to enhance the island’s appeal as a prime travel destination and stimulate economic growth through increased […]
SME Alliance Calls for Urgent Government Action to Support Sector’s Survival
In a critical plea for support, the SME Alliance has voiced strong concerns over the lack of effective aid provided to Small and Medium-sized Enterprises (SMEs) amidst ongoing economic turmoil. Highlighting a series of unsuccessful governmental and financial policies, the alliance is urging immediate action to restore the sector’s viability and safeguard over 4.5 million […]
Sri Lanka’s Tourism Sector Witnesses Impressive Growth in 2024, Driven by Emerging Markets
Introduction In 2024, Sri Lanka’s tourism sector marked a significant milestone, attracting over 2.05 million visitors and showcasing a robust expansion driven predominantly by non-traditional markets. This article delves into the dynamics of this growth, emphasizing the diversification of tourist sources and the promising future of the sector as it gears up for the launch […]
The Impact of President Trump’s Policies on South Asia and Sri Lanka’s Economic Landscape
Introduction The tenure of President Donald J. Trump was marked by transformative policies that had profound effects globally. South Asia, a region of strategic economic and political importance, was significantly influenced by his administration’s foreign and economic policies. This article explores the impact of President Trump’s presidency on South Asia, with a special focus on […]
Economic Development Deputy Minister pledges solutions to PAYE tax concerns, professional exodus
On Thursday, 16 January 2025, the Deputy Minister of Economic Development, Prof. Anil Jayantha Fernando, reinforced the government’s commitment to resolving the growing concerns around the Pay As You Earn (PAYE) tax and the increasing exodus of skilled professionals from the country. During a pivotal meeting with the Professionals’ Trade Union Confederation at the Finance […]
