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Private sector upbeat on Budget proposals

Private sector stakeholders and independent analysts yesterday hailed the 2017 Budget proposals describing them as, “progressive, sensible, and reinforcing continuity,” as well as providing greater clarity on the Government’s policies. Initial reactions to tax proposals were...

PM spells out Sri Lanka’s third generation of economic reforms

Sri Lanka plans to overcome the current economic challenge by uplifting the country from a lower –middle-income country to a higher –middle income country in the first instance and thereafter to a high –income country within the next 3 to 4 years. With the aim of achieving...

China invites India to join Sri Lanka offshore city project

In what could signal a new phase in Sino-Indian economic relations, China has invited India to help in developing Sri Lanka, including taking part in the multibillion dollar Colombo International Financial City funded by Beijing. Addressing a forum in Colombo, Chinese...

India-Pakistan stand-off: Economists say no immediate effect on Lanka

Sri Lanka will not suffer grave economic downfall owing to the tense situation between India and Pakistan, economists predict. However, there may be a trickle down impact on the country if the situation continues and will be a setback to the government’s efforts to revive trade...

Sri Lanka’s VAT fiasco adds pressure, makes budget crucial

COLOMBO -- Sri Lanka's finance ministers strike at midnight, while the country sleeps. The public wakes up to the shocking news in the Gazette, the government journal that prints official decrees, of price increases in selected goods following overnight tax...