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Liquor demand down by 30% in Crisis-hit Sri Lanka

 Sri Lanka Excise Department revealed that t the demand for the liquor has decreased by about 30% due to the recent increase in the price of liquor and the decrease…

Dhammika Perera Tipped to Become the Minister of Technology and Investment Promotion

Top Businessman Dhammika Perera is set to enter the Parliament replacing Basil Rajapakse and is tipped to swear in as the Minister of Technology and Investment Promotion. President Gotabaya Rajapaksa…

Crisis-hit Sri Lanka hikes tax rates to maximise govt revenues

(Reuters): Sri Lanka’s government on Tuesday announced a taxation overhaul to maximise revenue amid the country’s crippling economic crisis, hiking value added taxes and corporate income tax, and slashing the…

A Sri Lankan Household Spends Nearly a Quarter of Average Monthly Expenditure on One Full Tank of Petrol

Following the latest fuel price increase, a full tank (45 Liters) of Petrol (Octane 92) now accounts for almost 1/4th of average monthly household expenditure in Sri Lanka as measured…

Economic crisis in Sri Lanka and its impact on older adults

By Keshini Madara Marasinghe Sri Lanka is experiencing its worst economic downturn in history. Due to depleting foreign reserves, the country is facing shortages in fuel, food, cooking gas, medicines,…

Sri Lanka to replace ‘unrealistic’ budget, in talks to extend World Bank aid

(Reuters) – Sri Lanka plans to replace its current “unrealistic” budget and is in talks with the World Bank to extend its support by $300 million to $700 million, the…

Hike taxes to address debt woes, IMF urges crisis-hit Sri Lanka

Sri Lanka must tighten monetary policy and raise taxes to address its debt crisis, a senior International Monetary Fund (IMF) official said on Tuesday, even as Lanka’s President Gotabaya Rajapaksa and the cabinet…

Sri Lankan Economic Crisis Inflicted by Self-Serving Elite

By Anis Chowdhury and Jomo Kwame Sundaram Sri Lanka has just defaulted on its foreign debt for the very first time. Attributing its current predicament to a Chinese ‘debt-trap’ is a new Cold War…

Ceylon Chamber Hosts Investment Promotion Meeting with Bangladesh’s EPZ Authority

With the nation of Bangladesh poised to become an economic powerhouse in the South Asian region,the Ceylon Chamber of Commerce hosted a meeting with a high-level delegation representing theBangladesh Export…

IMF Urges Sri Lanka to implement an ambitious fiscal consolidation program to overcome the economic crisis

The International Monetary Fund (IMF) urges Sri Lanka to implement an ambitious fiscal consolidation that is based on high-quality revenue measures which consist of raising income tax and VAT rates…