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18/05/2024

For the 1st Quarter ending 31st March 2024, the Ceylon Electricity Board has recorded a profit of Rs 88.3 billion in start comparison to the loss of Rs 35.3 billion for the same period in the year 2023.

02/04/2024

Addressing Secretaries of Ministries and Heads of Government Media, Minister Dr. Bandula Gunawardane revealed that the total outstanding external debt of Sri Lanka currently stands at 36 Billion USD.

07/02/2024

Sri Lanka’s Official Reserve Assets increased by 2.3% to USD 4.4 billion in January 2024 from USD 4.3 billion in December 2023; This includes a swap facility from the People’s Bank of China, equivalent to around USD 1.4 billion, which is subject to conditionalities on usability: CBSL

03/02/2024

Sri Lanka Ayurvedic Drugs Corporation (SLADC) has made Rs. Rs. 195 million in profits in 2023, marking the highest-ever figure the institution has recorded since 2017, State Minister of Indigenous Medicine Sisira Jayakody said.

03/02/2024

The Government of Sri Lanka (GOSL) and the World Bank signed an agreement for $150 million in financing for Sri Lanka to strengthen the resilience of the financial sector through the Financial Sector Safety Net Strengthening Project (FSSNP).

18/01/2024

The government has allocated 14 billion rupees for people without homes in the plantations, Minister of Estate Infrastructure Development Jeevan Thondaman has said.

“President Ranil Wickremesinghe has taken steps to provide land and houses for the estate people,” Thondaman was quoted as having said in statement by the Government Department of Information.

09/01/2024

Minister Shehan Semasinghe says that the foreign exchange received is insufficient to relax the restriction on the import of vehicles, while making sure that the present reserves are kept at secure levels. He further stated ““Under the current circumstances, we cannot assure that tax revenue will increase and that the import ban on vehicles can be lifted,”

31/12/2023

Did you know that Sri Lanka’s total external debt is at a staggering 58.7 billion US$ according to the World Bank report on external debt stocks?

29/12/2023

Sri Lanka’s poverty is projected to increase to 27.9 percent in 2023, which amounts to approximately 6.18 million of its population, the World Bank said, as the country continues to suffer from the most extreme deployment of ‘macro-economic policy’ in the history of its central bank.

29/12/2023

At total 500,196 persons were registered as individual tax-payers by end November 2023, up from 204,467, while the number of pay as you earn tax files (PAYE) had increased to 242,679 in 2023, from 41,636 as per the Department of Inland Revenue.

22/12/2023

Workers in Kuwait contributed the highest in worker’s remittances for the 3rd quarter of 2023 with an impressive US$ 157.7 Million with migrant workers in UAE and Qatar contributing US$ 146.9 million and US$ 137.5 million respectively.

21/12/2023

Sri Lanka’s gross official reserves will exceed 4.0 billion US dollars with loans disbursed by several lending agencies, the Finance Ministry said.

The Finance Ministry said 337 million dollars was disbursed by the International Monetary Fund on December 14, 200 million dollars by the Asian Development Bank on December 15. The World Bank had disbursed another 250 million on December 20.

20/12/2023

Sri Lanka recorded more than 1.3 million tourist arrivals by the second week of December, official data show. It is the first time arrivals have crossed the 1 million mark in four years. More than 150,000 tourists visited in November, the highest monthly tally since March 2020.

20/12/2023

Sri Lanka’s Inland Revenue Department (IRD) will start mobile service to reach people to open tax files, State Finance Minister Shehan Semasinghe said, as the island nation is in the process of boosting the number of personal income tax payers amid a challenging 2024 revenue target committed with the International Monetary Fund (IMF).

26/07/2023

IMF Chief Economist Pierre- Olivier Gourinchas told Reuters in an interview that the IMF forecast that global headline inflation would fall to 6.8% in 2023 from 8.7% in 2022, dropping to 5.2% in 2024, but core inflation would decline more gradually, reaching 6.0% in 2023 from 6.5% in 2022 and easing to 4.7% in 2024.

25/07/2023

Major prediction 🚨 The Sri Lanka Rupee went from Asia’s best to worst in just three weeks. The LKR is down 6% in July vs 19% gain in first half. Rupee may fall further to 355/USD by end of the year says Natixis as reported by Bloomberg.

24/07/2023

Litro Gas Chief, Muditha Peiris has done wonders for the company after taking over during the country’s darkest hour. From ensuring a steady supply, to being transparent with the public, he has been one of the stars of the show during the past year.

20/07/2023

Rs.526 billion was saved by imposing import restrictions, said the State Minister of Finance Ranjith Siyambalapitiya, while submitting the gazette notification pertaining to the lifting of import restrictions on further 286 items, before the Parliament today. He added that only 930 items are now restricted from importation.

13/07/2023

Is the future of Digital Marketing already on TikTok? 🤔

14/05/2022

Economist Lanka Poll: The results are in!

Our independent poll revealed that 66% of our followers who took part in the poll, believe that PM is the best bet to save the country from the prevalent economic crisis, while 21% believe that is the answer. However, in a shocking revelation, SJB Leader is the least favourite out of the lot gaining a mere 13% of the votes.

We also sought your opinion as to who would be the ideal Finance Minister to see the country through, and the result is an easy guess. Dr. swept the polls with an impressive 92% (243 votes) against Ali Sabry who came in runners up with a mere 4% and with only 3%.

Economist Lanka is followed by a representation of mostly urban, well educated, politically conversant individuals who are here to be informed of vital statistics that comes in handy on a daily basis. The result of this poll can be safely held as the general opinion of the urban masses at present. The statistics can be shared on any media platform or network with prior approval from the admin.

30/04/2022

It was revealed in Parliament and further pointed out by former PM that the losses of the CEB for 2021 was at a whopping 79 billion LKR with the projected loss for 2022 at Rs 100 billion.

24/04/2022

Sri Lankans working abroad sent USD 113 million more in March 2022 after the CBSL finally caved in and floated the rupee. Workers remittances grew to USD 318 million in March from USD 205 million in February. An increase of 35.5%

🇱🇰

21/04/2022

The price of a Kilo of Red Raw rice sold at Rs 198.20 today at the Pettah market, up from Rs 98.00 on the same day last year. While food inflation on record is at 30.2%, the inflation of essential food is at staggering rates as examples above.

20/04/2022

Electricity generated by burning coal was down by 30.5% in January this year when compared with the same period last year. This was largely due to the constant breakdowns reported at the Norochcholai power plant and irregular procurement of coal to the country to feed the national grid.

19/04/2022

The prices of registered motor vehicles in Sri Lanka has increased by an average of 97% since March 2020, according to a research done by a popular online vehicle sale platform. The prices of certain Indian manufactured small cars have inflated by over 120% during the same period.

14/04/2022

Sri Lanka’s new finance minister, Ali Sabry, says the country plans to start talks with the International Monetary Fund (IMF) on the 18th of April 2022 to secure up to $4 billion to aid the economy for the rest of the year.

13/04/2022

Averaging a reasonable 6.83% since 2009, the Food Inflation rate of Sri Lanka rose to an unprecedented 30.2% in March 2022 as the common man struggles to meet the most basic human need - to put food on the table.

11/04/2022

SL Foreign Reserves shrunk by 74.2% to USD 1.39 billion in March 2022 from USD 7.53 billion in January 2020 due to poor management of the country’s finances blamed largely on a few individuals.

11/04/2022

SL Foreign Reserves shrunk by 74.2% to USD 1.39 billion in March 2022 from USD 7.53 billion in January 2020 due to poor management of the country’s finances blamed largely on a few individuals.

09/04/2022

The World Bank places the number of poor Sri Lankans at 11.7% of the total population recording 2,524,373 of its citizens below the poverty line of Rs 5621/-

Over 500,000 people were added to this count since the pandemic began, followed by poor fiscal management by the government.

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