6 days ago · The EDCM Resumes Operations after 28 Years. Targeting USD 36 Billion in Export Revenue by 2030 Rise in export income next quarter – President at the EDMC Meeting In line with the new government’s policy of “A Thriving Nation- A Beautiful Life,” President Anura Kumara Disanayake directed officials to take the necessary steps to …

6 days ago · The latest report from the Sri Lanka Export Development Board reveals that the country achieved a record-breaking total export revenue of US$ 16.17 billion in 2024. This marks the highest export earnings in Sri Lanka’s history, surpassing the previous peak of US$ 15.72 billion recorded in 2018. The 2024 figure comprises US$ 12.70 billion from...

Jan 24, 2025 · Sri Lanka revokes power purchase deal with Adani Group, AFP reports. Reuters – Sri Lanka has revoked a power purchase deal with India’s Adani Group after a probe into U.S. allegations that the conglomerate’s executives paid bribes to secure Indian power supply contracts, according to an AFP report published by the Economic Times newspaper on Friday.

3 days ago · Several decisions by the government to facilitate investors A nation cannot progress without a transformative shift in public attitudes. Economic resources and opportunities must be introduced at the village level. Plans to prepare Sri Lanka for a transformation in Southeast Asia Moving from an individual-targeted aid approach to a …

Sri Lanka and China extend $1.4 billion currency swap for three more years. The Central Bank of Sri Lanka and the People’s Bank of China, in December 2024, successfully renewed the Bilateral Currency Swap Agreement signed in 2021, for a period of another three (03) years, under the terms and conditions stipulated in the original agreement.

6 days ago · Notable attendees at the meeting included Minister of Industry and Entrepreneurship Development Sunil Handunnetti, Minister of Transport, Highways, Ports, and Civil Aviation Bimal Rathnayake, Minister of Plantation and Community Infrastructure Samantha Vidyarathne, Minister of Trade, Commerce, Food Security and Co-operative Development Wasantha Samarasinghe, Minister of Rural Development ...

Sep 27, 2024 · The merchandise trade deficit widened during the eight months ending August 2024 (provisional) compared to the same period in 2023, driven by a larger expansion in import expenditure relative to export earnings. Earnings from tourism and workers’ remittances improved during this period, strengthening the external current account. Meanwhile, despite intermittent volatility, the Sri Lanka rupee...

Oct 10, 2024 · Sri Lanka’s economy has stabilized, with growth expected to reach 4.4 percent in 2024, surpassing earlier forecasts. This positive outlook follows four consecutive quarters of growth driven by the industrial and tourism sectors and supported by critical structural and policy reforms, says the World Bank. Released today, the World Bank’s bi-annual Sri Lanka Development Update, titled Opening...

Apr 11, 2024 · The Asian Development Bank’s (ADB) annual flagship economic publication, the Asian Development Outlook (ADO) April 2024, forecasts Sri Lanka’s economy to record moderate growth of 1.9% in 2024 and 2.5% in 2025 following 2 consecutive years of contractions. Sri Lanka is showing signs of recovery, with green shoots emerging in the second half of 2023.

Sep 27, 2024 · Reuters – Sri Lanka’s central bank kept interest rates unchanged on Friday in line with expectations, citing domestic and global uncertainties, but said inflation was likely to remain low and the economy was doing much better than initially expected. The Central Bank of Sri Lanka (CBSL) kept the Standing Deposit Facility Rate at 8.25% and...