Category: Economy

Nov 26, 2012 (LBO) – Sri Lanka’s credit given to private business from banks commercial banks fell to 9. 8 billion rupees in September 2012, the lowest since 2009, with dollar denominated loans contracting, though the rupee book was still growing, official data showed. Sri Lanka’s credit contracted in nominal terms during 2009, following the […]

Nov 19, 2012 (LBO) – Sri Lanka has shown high debt-backed investment led growth when the rest of the world was slowing but to attract long term “good quality” investors, a better environment is needed, a top World Bank official said. Sri Lanka’s fiscal side was improving with debt levels while falling from high of […]

Nov 16, 2012 (LBO) – Sri Lanka needs effective economic management to retain a positive outlook on its ‘B1’ rating Moody’s Investors Services said in a credit analysis, also raising concerns over declining rule of law. Sri Lanka’s institutional strength score assesses governance strengths, a strong payments record and the government’s commitment to data transparency, […]

Nov 16, 2012 (LBO) – Sri Lanka’s central bank kept the rate at which money is injected into the market at unchanged at 9. 76 percent at its November monetary policy meeting, though money has been injected at below market rates on longer tenures in recent weeks. Another auction this week was cancelled, but the […]

Nov 14, 2012 (LBO) – Sri Lanka’s labour force growth is slowing and the proportion of the workforce above 30 years is growing, while the proportion below 30 is shrinking, raising important policy questions, a top think has said. “There are already indications that the Sri Lankan labour force growth has slowed down,” Sri Lanka’s […]

Nov 14, 2012 (LBO) – World Bank managing director Sri Mulyani Indrawati will visit Sri Lanka from November 15 to 19, to discuss the climate for private sector investment and seek ways for the to support the country further, the multilateral lender said. “Sri Lanka has made great strides in overcoming poverty as it transitions […]

Nov 12, 2012 (LBO) – Sri Lanka has created 21,463 new posts in ministries up to August 2013 out of which 18,128 were for unemployable graduates educated at tax payer expense, data released under a fiscal management law shows. In 2009 44,532 new posts were created including 40,095 in departments, 1,769 in ministries, 1,641in provincial […]

Nov 10, 2012 (LBO) – China was Sri Lanka’s top lender up to August 2012 disbursing 443. 6 million US dollars in loans and export credits and India has give the most amount of grants followed the United States and Japan, finance ministry data shows. The finance ministry’s fiscal management report shows that China has […]

Nov 09, 2012 (LBO) – Sri Lanka’s Ceylon Chamber of Commerce said it was encouraged by government plans to cut the budget deficit which will help create a stable economy which will allow economic targets to be achieved. “Prudent monetary policies and the maintenance of fiscal discipline are required if the medium term macro targets […]

Nov 09, 2012 (LBO) – Sri Lanka has upped protectionist taxes in foods and building materials allowing more profits for producers allowing producers as citizens try to eat and build homes for themselves. Raising import duties allows producers to engage in tax arbitrage, the act of collecting as profits the equivalent of amount of tax […]