SRI LANKA UPDATE | 08 – 14 SEPTEMBER 2023
SRI LANKA UPDATE | 08 – 14 SEPTEMBER 2023 The Economy: Government defers controversial Simplified Value-Added Tax (SVAT) – The Cabinet of Ministers accepted the modification of the relevant provisions’ implementation date to 1 April 2025 in light of exporters’ vocal opposition to the elimination of the SVAT scheme. Earlier, it was planned for the proposed […]
SRI LANKA UPDATE | 01 – 07 SEPTEMBER 2023
SRI LANKA UPDATE | 01 – 07 SEPTEMBER 2023 The Economy: Government confident of receiving International Monetary Fund (IMF) second tranche amid progress – Cabinet Co-Spokesman expressed optimism on the Government’s chances of securing the much-anticipated second tranche of funds from the IMF Extended Fund Facility (EFF). Following a post-Cabinet meeting, he noted that while the IMF mission […]
SRI LANKA UPDATE | 25 – 31 AUGUST 2023
SRI LANKA UPDATE | 25 – 31 AUGUST 2023 The Economy: Sri Lanka’s July exports decline by 12 per cent YoY (year on year) to USD 1 billion – While Sri Lanka’s export sector maintain a performance of over USD 1 billion in July compared to June 2023 YoY, overall exports declined by 12 per cent […]
SRI LANKA UPDATE | 11 – 17 AUGUST 2023
SRI LANKA UPDATE | 11 – 17 AUGUST 2023 The Economy: International Monetary Fund (IMF) team due to arrive in Sri Lanka in September – A delegation from the IMF is slated to travel to Sri Lanka between September 14 until September 27, 2023. The team is scheduled to come to perform the Extended Fund Facility […]
SRI LANKA UPDATE | 04 – 10 AUGUST 2023
SRI LANKA UPDATE | 04 – 10 AUGUST 2023 The Economy: Cabinet gives nod for bold economic reforms to drive stability and growth – The Cabinet of Ministers gave its decisive assent to a number of reform initiatives intended to boost economic growth and maintain long-term stability, paving the way for a strong and stable economic […]
SRI LANKA UPDATE | 28 July – 03 AUGUST 2023
SRI LANKA UPDATE | 28 July – 03 AUGUST 2023 The Economy: Inflation as per Colombo Consumer Price Index (CCPI) in single digits in July after 20 months – Headline inflation, as determined by the CCPI’s YoY movement, dropped from 12 per cent in June 2023 to 6.3 per cent in July. The Central Bank of Sri […]
SRI LANKA UPDATE | 21 – 27 JULY 2023
SRI LANKA UPDATE | 21 – 27 JULY 2023 The Economy: Government eases restrictions on outward forex remittances – According to the Central Bank of Sri Lanka (CBSL), the Finance Minister issued a new Order under Section 22 of the Foreign Exchange Act, No. 12 of 2017 on the recommendation of the Monetary Board of the CBSL and […]
SRI LANKA UPDATE | 14 – 20 JULY 2023
SRI LANKA UPDATE | 14 – 20 JULY 2023 The Economy: The European Commission proposes a 4-year extension of the Generalised Scheme of Preferences Plus (GSP+) scheme for Sri Lanka – In the midst of ongoing negotiations for the European Union’s (EU) new GSP+ arrangement, the European Commission has proposed a four- year extension of the GSP+ for […]
SRI LANKA UPDATE | 06 – 13 JULY 2023
SRI LANKA UPDATE | 30 JUNE – 06 JULY 2023
ADVISORY The Economy: Government gazettes Domestic Debt Optimisation (DDO) – President Ranil Wickremesinghe in his capacity as the Minister of Finance, Economic Stabilization and National Policies published the Extraordinary Gazette on Registered Stock and Securities Ordinance (Chapter 420). The Extraordinary Gazette declares that all privileges, exemptions and immunities attaching by virtue of any written law in […]