Category: Economy
Japan’s Strategic Grip on Sri Lanka’s Technology and Economy
President Anura Kumara Dissanayake recently met with Japanese Ambassador Akio Isomata and discussed issues of bilateral interest. The Japanese Ambassador stated that efforts have been made to include Sri Lanka in the recently launched security cooperation assistance program by the Government of Japan. Furthermore, the current status and progress of digital economic and airport investments…
Impact of Rainfall on Economic Growth in Sri Lanka (2003–2023): A Statistical Analysis
1. Introduction Rainfall is a key driver of Sri Lanka’s economic growth, particularly in agriculture, energy, and industrial sectors. As a tropical island, Sri Lanka experiences two main monsoons—the Southwest Monsoon (May–September) and the Northeast Monsoon (December–February)—which significantly influence water availability, crop production, and hydropower generation. This study examines the impact of rainfall fluctuations on Sri Lanka’s GDP growth from…
Sri Lanka Unveils Ambitious Budget for 2025: Aiming for Economic Stability and Growth
Colombo, February 17, 2025 (LankaBIZ) – The Sri Lankan government presented its highly anticipated Budget 2025 in Parliament, outlining a comprehensive plan to stabilize the economy, reduce poverty, and foster sustainable development. The budget, which follows a period of economic turbulence, prioritizes fiscal discipline, social welfare, and investment-driven growth. Economic Recovery and Fiscal DisciplineThe government emphasized…
Banking Sector Profitability at what cost?
Banks have a critical role to play in Sri Lanka’s economic recovery, not only by securing their own financial positions but by fostering conditions for business growth. High interest rates and aggressive foreclosures do little but suppress growth, while more inclusive and flexible financial support will create sustainable profitability across industries. A responsible banking sector…
Sri Lanka: Economic Outlook 2024
Analysis of the current economic situation of Sri Lanka and Key Indicators. Sri Lanka’s Current Economic Situation Current Economic Situation Sri Lanka’s current economic situation is characterized by the aftermath of a severe crisis and ongoing efforts to stabilize the economy through comprehensive reforms. The future outlook hinges on the successful implementation of governance and anti-corruption…
Sri Lanka’s Financial Gap
Sri Lanka’s financial gap from 2022 to 2027 and summary of IMF staff Review on June 13, 2024 The financial gap refers to the difference between the available financial resources and the required expenditures to meet fiscal and debt obligations. For Sri Lanka, this gap is a critical issue that has implications for the country’s…
Sri Lanka key Economic Indicators and Future Outlook for 2024
Get update on Sri Lanka’s latest economic indicators and future outlook via LankaBIZ backed by Artificial Intelligence. Ask any question relating to economy of Sri Lanka and get instant answers based on latest information. www.lankabizz.net The latest economic outlook for Sri Lanka, as of May 2024, indicates a challenging economic environment. The country has been…
Sri Lanka: Latest Economic Outlook and Future Challenges
The economic outlook of Sri Lanka has been challenging, as evidenced by the data and reports available up to May 2024. The country has faced severe economic downturns, with a sharp contraction of about 8.0% in 2022, which was the largest economic contraction on record for Sri Lanka. This was followed by a contraction of…
