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1Q growth slumps to 3.8%

Scorched by drought, Sri Lanka’s growth slumped to 3.8% in the first quarter of 2017 from 5.3% recorded the previous year, the Census and Statistics Department said yesterday when releasing their latest statistics, with the agriculture sector’s contribution to GDP shrinking 3.2%...

Sri Lanka struggles to build foreign reserves

A South Korean ship unloads its cargo of cars at a terminal in Hambantota port, providing the only sign of life at Sri Lanka's newest harbor, sited on its southern coast. The rest of this $1.4 billion port, built with a loan from the Export-Import Bank of China, sits idle. In...

Cultivating the capital market

Capital Market Conference 2017 came alive with straight talk and futuristic observations on the Sri Lankan economy, with the need for consistent policies and prompt execution intertwining through the discussions. Organised for the fifth consecutive year by UTO EduConsult; the...

Drought will block Sri Lanka from 2017 growth pace officials see: economists

Sri Lanka's 2017 growth rate is likely to be significantly lower than the government and central bank forecast, mainly due to a severe drought and tight monetary and fiscal policies, private economists said. The island nation's economy grew 4.4 percent in 2016, below the...