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Sri Lanka’s public finances strengthening-IMF

Sri Lanka’s overall fiscal deficit decreased from 7 percent to 5.4 percent of GDP between 2015 and 2016, with public finances strengthening under an IMF supported program, the fund said releasing its country report.   The budget deficit is projected to fall to 5.2 percent of GDP in 2017, although …

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SriLankan Airlines needs to find a partner soon – CEO

The restructuring process of Sri Lanka’s national carrier is ongoing at the moment, CEO of SriLankan Airlines Suren Ratwatte said.  He stated that they have submitted a plan to the government and are awaiting approval. “This is peak time. July-August is the busiest time in the airline world as you …

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‘Govt. spending will determine policy’

The government spending and inflation direction in the coming months will be key determinants of policy, Central Bank Governor Dr. Indrajith Coomaraswamy said.”My gut reaction is that we are close to the top of the interest rate cycle, Governor Coomaraswamy told the media recently at Central Bank auditorium. He said …

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Insurance Industry records growth of 17% in 1Q 2017

The insurance industry recorded a growth of 17.10%, in terms of Gross Written Premium (GWP), during the first quarter of year 2017 when compared to the same period in the year 2016.   The GWP for Long Term Insurance and General Insurance Businesses for the first quarter ending 31st March …

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Sri Lanka lagging in stock market development in the region

Although there has been a ‘phenomenal increase’ in recent times in foreign investor participation in the Colombo Stock Exchange, Sri Lanka trails many prominent foreign investment destinations in the South and South-east Asian regions with regard to important aspects of stock market development.   For example, Sri Lanka’s market capitalization …

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