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Sri Lanka to prepare Budget 2018

Minister of Finance and Mass Media Mangala Samaraweera has presented a proposal to the Cabinet of Ministers to prepare the Budget 2018 on Performance based budgeting. According to the proposal, the Macro – Public Finance Framework for preparation of budget 2018 aims to achieve several targets in 2020. These targets …

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Sri Lanka to improve ease of doing business ranking

rime Minister Ranil Wickremesinghe said yesterday that steps would be taken to improve Sri Lanka’s ease of doing business ranking to 70, from the current 110.   Addressing the launch of the Roadmap on Investment  Climate Reforms at Temple Trees, Wickremesinghe said that in the late 1970s, even China had …

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Good quality cinnamon should be produced – Daya

Primary industries minister Daya Gamage stresses the need to produce good quality cinnamon and add value to the produce in order to send it to the world market. The aim is to earn one billion dollar revenue from cinnamon exports by 2020, he told seminars in Galle and Matara yesterday …

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Inflation in Colombo rises to 6.1 percent in June 2017

Sri Lanka’s inflation, as measured by the change in the Colombo Consumers’ Price Index (CCPI), marginally increased to 6.1 percent in June 2017 from 6.0 percent in May, the Department of Census and Statistics reported on Friday. The CCPI for all items for the month of June marginally increased by …

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World Bank recommends faster implementation of reforms

The government led reforms to improve competitiveness, maintain macro-fiscal stability and strengthen institutions, with broad support in the country, are key to robust economic growth, job creation and poverty reduction, a World Bank report released today underscored. The new Sri Lanka Development Update (SLDU) of the World Bank, a half-yearly …

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Development Bonds issue for US$ 515 mn oversubscribed

The issue of Sri Lanka Development Bonds (SLDBs) for US$ 515 million has been oversubscribed nearly two-fold with total bids received amounting to nearly US$ 1 billion, the Central Bank said on Wednesday. The Central Bank on behalf of the government offered to issue of US$ 515 million of 1 …

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Sri Lanka exports expected to rise after regaining GSP+ status

Even if Sri Lanka can reach and maintain upper-middle-income country status in the next few years, the country’s economy will benefit from regaining the European Union’s Generalized Scheme of Preferences Plus (GSP+) for at least five years, the global publishing firm, Oxford Business Group (OBG) says. The OBG says the …

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