Category: Economy and Markets

Sri Lanka’s annual budget presentation got off to an inauspicious start with the main opposition party boycotting the proceeding, while government benches were half empty. Sri Lanka’s annual budget presentation got off to an inauspicious start with the main opposition party boycotting the proceeding, while government benches were half empty. Finance Minister Sarath Amunugama began […]

The government has proposed a return to the automatic fuel price formula after squandering billions on a failed attempt to ‘unplug’ Sri Lanka from the global economy.The government has proposed a return to the automatic fuel price formula after squandering billions on a failed attempt to ‘unplug’ Sri Lanka from the global economy. “Recurrent expenditure […]

Sri Lanka is offering tax breaks on vehicle permits, higher pay and cash for unpaid leave to encourage its bloated public sector to become more efficient. Sri Lanka is offering tax breaks on vehicle permits, higher pay and cash for unpaid leave to encourage its bloated public sector to become more efficient. The minimum salary […]

The Sri Lankan government announced Tuesday that all International Cricket Council (ICC) events held in this cricket-mad island will be given total tax exemptions.The Sri Lankan government announced Tuesday that all International Cricket Council (ICC) events held in this cricket-mad island will be given total tax exemptions. Finance Minister Sarath Amunugama said the concession would […]

Finance Minister Sarath Amunugama nearly missed presenting the 2006 budget today after his staff got the time wrong and forced him to an inauspicious start.Finance Minister Sarath Amunugama nearly missed presenting the 2006 budget today after his staff got the time wrong and forced him to an inauspicious start. Official invitations sent out by the […]

The Freedom Alliance Govenment on Tuesday presented its second budget since coming into power after the snap April 2004 polls.To read Finance Minister Dr. Sarath Amunugama’s speech, please click on the links below.The Freedom Alliance Govenment on Tuesday presented its second budget since coming into power after the snap April 2004 polls. To read Finance […]

Budget 2006 goes to Parliament next week, but Sri Lankan businesses are not showing the interest usually reserved for a national budget.Budget 2006 goes to Parliament next week, but Sri Lankan businesses are not showing the interest usually reserved for a national budget. Given Sri Lanka’s practice of sudden policy changes and surprise taxes, the […]

Sri Lanka’s government is likely to announce ambitious spending plans to help low-income groups and farmers when it presents its 2006 budget proposals next week, analysts say. Sri Lanka’s government is likely to announce ambitious spending plans to help low-income groups and farmers when it presents its 2006 budget proposals next week, analysts say. The […]

The Ceylon Chamber of Commerce wants a pre-election budgetary position made public, before the Presidential election.The Ceylon Chamber of Commerce wants a pre-election budgetary position made public, before the Presidential election. Sri Lanka’s leading trade chamber wants the government to amend the Fiscal Management (Responsibility) Act, to allow a pre-election fiscal report before a Presidential […]

Sri Lanka’s Prime Minister is promising to give paid paternity leave, duty free vehicles for good taxpayers, free spectacles for the disable, and splash out billions of rupees by way of welfare subsidies, if he wins next month’s presidential poll, his party said Tuesday. Sri Lanka’s Prime Minister is promising to give paid paternity leave, […]

Treasury Secretary says GDP growth will surpass six percent this year but independent economists give sharply lower forecasts. Treasury Secretary says GDP growth will surpass six percent this year but independent economists give sharply lower forecasts. Dr P. B. Jayasundera says higher tourism earnings and a better performance from agriculture will help the economy post […]

While the ‘pre Presidential poll’ budget is being sidelines as election propaganda, the country’s overall financial planning process is also losing its significance. While the ‘pre Presidential poll’ budget is being sidelines as election propaganda, the country’s overall financial planning process is also losing its significance. Successive governments, despite going through the pomp and pageantry […]