Sri Lanka’s economy will remain stable under the National People’s Power (NPP) administration, according to party leader Anura Kumara Dissanayake. Addressing the business community, Dissanayake emphasized that while economic changes will be made, they will be carefully assessed to prevent any destabilization. Dissanayake assured that the NPP’s approach is not driven by populist politics, citing
In a special session held on Tuesday, Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka (CBSL), provided a comprehensive briefing to Members of Parliament on the measures taken to stabilise the country’s economy. This session, chaired by Speaker Mahinda Yapa Abeywardena, was conducted in accordance with Section 80 (2) (a) of the
Sri Lanka’s budget deficit saw a significant reduction of 52% in the first half of 2024, dropping to 515.7 billion rupees. During the same period, government revenues surged by 42% to 1,860.6 billion rupees, driven largely by a 43% increase in tax revenues, totaling 1,709.3 billion rupees, according to interim budget data. The budget’s current
Sri Lanka’s balance of payments (BOP) remains in surplus in 2024, but it trails slightly behind the figures from 2023, according to official data. By June 2024, the country recorded a BOP surplus of $1.761 billion, compared to $1.957 billion in the same period the previous year. The surplus, reflecting an improvement in net international
Sri Lanka’s central bank has absorbed Rs. 546 billion of domestic money out of the Rs. 578.5 billion created from foreign exchange purchases in the six months leading up to June 2024, according to official data. The central bank generated Rs. 538.1 billion from forex purchases and an additional Rs. 40.4 billion net from buying
The Asian Development Bank (ADB) has expressed confidence in Sri Lanka’s macroeconomic indicators, with Country Director Takafumi Kadono noting positive developments during a media briefing in Colombo yesterday. “Inflation has been controlled, primary and current balance figures are positive, the currency has stabilized, and reserves have increased. We observe significant progress since the economic crisis,