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Sri Lanka economy grew at an estimated rate of 2.3 percent in 2019

* Sri Lanka economy grew at an estimated rate of 2.3 percent in 2019 Thu, Apr 2, 2020, 11:29 pm SL Time, ColomboPage News Desk, Sri Lanka. Apr 02, Colombo: Sri Lanka’s economy grew at an estimated rate of 2.3 percent in 2019, the Department of Census and Statistics (DCS) said in a report released Tuesday.The Department of Census and Statistics has released the estimated … [Read more...] about Sri Lanka economy grew at an estimated rate of 2.3 percent in 2019

Fitch Revises Sri Lanka’s Banking Sector Outlook to Negative on Coronavirus; Rating Outlook Negative

* Fitch Revises Sri Lanka’s Banking Sector Outlook to Negative on Coronavirus; Rating Outlook Negative Fri, Mar 27, 2020, 09:06 am SL Time, ColomboPage News Desk, Sri Lanka. Mar 27, Colombo: Fitch Ratings has revised Sri Lanka’s banking sector outlook for 2020 to negative as the coronavirus pandemic poses increased risks to the anticipated expansion in the economy and credit … [Read more...] about Fitch Revises Sri Lanka’s Banking Sector Outlook to Negative on Coronavirus; Rating Outlook Negative

Sri Lanka delays tax and debt collections, state to intervene in financial markets

Meanwhile, President Rajapaksa on Monday also suspended the collection of lease payments for three wheelers for six months. Recovery of loans from salaries of government and private sector employees has been suspended till May 30. The president directed banks and finance companies to suspend collection of personal loans below one million rupees for three months. The full list … [Read more...] about Sri Lanka delays tax and debt collections, state to intervene in financial markets

Daily Mirror – Sri Lanka likely to record negative economic growth this year

Contraction in economic growth for first time in 19 years Blowout budget deficit of close to 10% of GDP Economy set to go through “extremely bumpy ride” Extreme austerity appears to be need of the hour  Sri Lanka’s economy is not spared by the massive shocks delivered by the coronavirus (COVID-19) pandemic, and due to the current multifaceted vulnerabilities, the … [Read more...] about Daily Mirror – Sri Lanka likely to record negative economic growth this year