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ASPI Reached 5000 for the First Time in the History....
All Share Price Index (ASPI) reached a record level of 5,000 points reflecting the country’s political and economic stability coupled with foreign investors’ confidence. ASPI up by 140 points closed at 5138.9 on 28th July.ASPI for the week ending July 22nd recorded 4,849 gaining 210 points while the MPI gained 268 points to close at 5,500. The total turnover topped at Rs. 2,811 mn compared to Rs. 551 mn in the same period of 2009 ( 23rd,July 2010) More...
EXPORTS REVENUE GROWTH RATE INCREASES
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The exports earnings that declined in 2009 has recorded a growth during the first quarter of 2010.
The export earnings declined by 13 per cent to US $ 7085 million in 2009 due to the lower demand from the Sri Lanka’s major trading partners stemming from the rapid contractions in the respective economies.
(30 July 2010)Full Story..
WESTERN PROVINCE RECORDS HIGHEST GDP CONTRIBUTION
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Reflecting a positive development with the ending of the 30 year old conflict, the Western Province made the highest contribution to the Gross Domestic Product, according to Central Bank of Sri Lanka based on the desegregation of the GDP estimated by the Department of Census and Statistics.(21 July 2010)More..
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Sri Lanka at a Glance -2009
Fiscal Management Report-2010
Government aids the agrarian sector to survive the global financial crisis in 2009...
The year 2009 saw the global financial crisis creating serious problems to economies all over the world. Its repercussions were felt here too in Sri Lanka, especially within the Small and Medium Enterprises. To curb this problem, the Government initiated several key projects within this field. One such project is the ‘Krushi Navodaya’ programme, which was initiated to meet the capital requirement of the small farmers throughout the country.
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BUSINESSMEN PAY GOVERNMENT DUES VOLUNTARILY...
An increase in commencing business ventures reflect in the Jaffna District and the enthused businessmen had come forward to pay due taxes to the government coffers voluntarily.The business community in the Jaffna Peninsula liberated from the terrorist clutches has commenced various business ventures on a massive scale and had contributed Rs. 41,967,409/= by way of revenue to the government coffers during the period of January to April this year(09.06.2010)
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PRESS RELEASE
15% surcharge on import duty removed. Import duty on imported raw materials/machines reduced from 11%-8%. Tax on mobile phones,cameras,wrist watches, electronics and motor vehicles slashed
A3 band tariff structure of 5,15,30 comes into operation
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Annual Report-2009
Annual Rerports Issued Under Fiscal Management
(Responsibility) Act No. 03 of 2003
Japan Provides Human Resources Development Scholarships for the Public Sector ...
The Goverment of Japan has agreed to provide a grant of japanese yen 229 million(approximately Rs. 279 million)for the implementation of the Japanese Human Resources Development Scholarship Programme.The Objective of this Programe is to suport human resources development by providing opportunities for the Government officials to undergo Masters Degree Programmes at higher educational institutions in Japan.(25 May 2010)More..
Inflation decelerated further in April...
The consumer price inflation decelerated to 5.8 percent in April from 6.3 percent in March 2010. It was a decrease of 1.0 percent over March 2010. Core inflation also declined to 6.4 percent from 7.0 percent on the point–to–point basis as compared to the previous month. However, annual average inflation increased to 3.4 percent from 3.2 percent registered in March. (28 April 2010)More..
Funds exceeds Rs. 23,400 m
Japanese assistance to implement two water projects
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The Official Development Assistance in Japan has provided Rs 23,401 million in support of developing two water projects to be implemented in the Eastern Province and Kandy District(23 April 2010)More..
Continued Decline in Unemployment.....
The unemployment continued to decline from 8.8 percent in 2002 to its lowest level of 5.2 percent in 2008.
A gradual decline in unemployment is observed during the 2002-2009 period although it turned out to 5.8 in 2009.The unemployment rate for the 3rd quarter of 2009 slightly increased to 5.9 persent due to the pressure on the domestic establishments from the shrinking external demand. ..... (05 March 2010)More..
Capital is ready with a surge in the stock market..
The Colombo Stock Market reached its highs in 2009 ranking the second-best in the world supported by the end of the civil conflict frees up government spending for investments in infrastructure and agriculture. ( Feb. 19 2010)
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Tourism sector enjoyed total earnings of US $ 384 million in 2009, an increase of 12.3 percent over 2008 making itself as the fast emerging growth industry in the economy. The number of tourist arrivals has also increased to 448,000, a 2.1 percent increase compared to 2008. Sri Lanka is eyeing 575,000 tourists with earnings of US $ 600 million for 2010( Feb. 05 2010)
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Granting of Variuos Concessions by the Government, including Alienation/Leasing of Lands owned by the State/State Agencies and granting of approval for new projects
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External Trade Bounces Back from Negative….....
The exports and imports grew by 6.4 percent and 0.5 percent respectively in December 2009 returning to its normalcy after recovery from the recession. Agricultural exports which grew by 40.2 percent to US $ 169.3 million in December 2009, ( Feb. 12 2010)
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Capital is ready with a surge in the stock market....
The Colombo Stock Market reached its highs in 2009 ranking the second-best in the world supported by the end of the civil conflict frees up government spending for investments in infrastructure and agriculture. The ranking will help to attract foreign investors and fund managers to the country and introduce new market instruments i.e. derivatives to the market.( Jan. 28 2010) More...
Sri Lanka ranked among the Top Ten Fastest Economies, being eighth in the world according to the Economist Intelligence Unit. As the global economy would emerge in the recession, it is envisaged that Sri Lanka would record a 6.3 percent GDP growth rate that is second only to China, which will record a 8.6 percent in the Asian region. ( Jan. 08 2010) More...
Decline interest Rates...
The Bank lending rates have been fallen by about 4% after the revision of interest rates at the end of Oct.2009. The present lending rates on average stood at 8%-16% as against 12%-23% stationed before the revision This will pave the way to reduce the borrowing rate and deposits rates. This would benefit the entire economy by expanding activities of the industry, service and agriculture sectors particularly in the SME sector.
( Jan. 15 2010) More...
Annual Average Inflation continued to decline the lowest level....
The annual average inflation declined to a 3.4 percent in December 2009 from 22.6 percent recorded in 2008. However, inflation rose to 4.8 percent in December 2009 reflecting the increased food prices due to less supply of agricultural consumer goods such as rice, vegetable, fish and sea food, coconut and potatoes from November to December coupled with seasonal pattern continued with festival season.
( Jan. 08 2010) More...
Sri Lanka ranked the Second-best performing stock market in the world....
The Colombo Stock Market reached its highest in 2009 ranking the second-best in the world supported by the end of the civil conflict frees up government spending for investments in infrastructure and agriculture. The ranking will help to attract foreign investors and fund managers to the country and introduce new market instruments such as derivatives to the market.
( Jan. 01 2010) More...
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