This slump is largely attributed to domestic unrest, contractionary monetary and fiscal policies, and a broader climate of uncertainty that has discouraged both foreign and domestic investment.
This decrease was primarily driven by a significant drop in food and beverage prices, with vegetable prices entering negative territory for the first time in 20 months.
By establishing dedicated police stations, enforcing strict regulations, and enhancing monitoring mechanisms, the government aims to protect consumers from exploitation while ensuring market stability.
With vegetable inflation exceeding 40 per cent, consumers face the brunt of soaring costs, while weak market monitoring and governance exacerbate the issue.
Sri Lanka’s central bank embraced deflationary measures that allowed currency appreciation and restored external stability. Critics argue, however, that these gains may be short-lived without structural reforms and tighter inflation targets.
Highlighting positive economic indicators, the Prime Minister noted that the reduction in the policy rate would provide much-needed relief to businesses and investors.
The President revealed that the government had successfully recouped MVR 3.1 billion from various parties, contributing to a reduction in the overall national debt.
One should, nevertheless, keep in mind that war is horrific. It is most often not the answer. When it is, it is always the very last resort after all other means to resolve adverse situations have been well and truly exhausted.
Tourism, one of Sri Lanka’s key economic drivers, is set to receive $200 million. These funds will be used to protect and enhance natural and cultural heritage sites, create employment opportunities, and ensure local communities benefit directly from tourism revenues.
One should, nevertheless, keep in mind that war is horrific. It is most often not the answer. When it is, it is always the very last resort after all other means to resolve adverse situations have been well and truly exhausted.
Tourism, one of Sri Lanka’s key economic drivers, is set to receive $200 million. These funds will be used to protect and enhance natural and cultural heritage sites, create employment opportunities, and ensure local communities benefit directly from tourism revenues.