Sri Lanka Economy
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US Tariff Hike May Deepen Sri Lanka’s Economic Struggles
Fitch Warns

Sri Lanka’s fragile economy could face further strain following the United States’ recent tariff hikes, warns Fitch Ratings. The global credit rating agency stated that countries with low external buffers and high debt burdens, like Sri Lanka, are particularly vulnerable to the ripple effects of the escalating US trade war. Currently rated CCC+, Sri Lanka…

yoghurt යෝගට් වල ගුණ යෝගට් හදන හැටි යෝගට් කප් යෝගට් හැඳි
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Sri Lanka to Reduce Prices of Liquid Milk and Yoghurt
After theFollowing VAT Exemption VAT Exemption

The prices of liquid milk and yoghurt made from locally sourced fresh milk are expected to decrease following the Sri Lankan government’s recent decision to exempt these products from Value Added Tax (VAT). This tax relief follows the enactment of the Value Added Tax (Amendment) Act No. 04 of 2025, which received certification on 11…

Aswesuma Cover Aswesuma Welfare Payments Aswesuma Online Application Aswesuma New Rules 2024
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Aswesuma Welfare Program to Expand to 400,000 New Beneficiaries
President Anura Kumara Dissanayake

President Anura Kumara Dissanayake announced a major expansion of the Aswesuma welfare scheme, pledging to include an additional 400,000 individuals under the program. The move is part of the government’s broader effort to strengthen the country’s social safety nets and extend support to low-income and vulnerable groups. The announcement follows a Cabinet decision on March…

A plate of rice Cheapest food prices near me
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Rice, Egg, Fish, Meat Prices Down, Coconut and Coconut Oil Prices Up Compared to Last Year
World Food Programme’s March 2025 Market Monitor

Sri Lanka’s economy expanded by 5.0% in 2024, marking a strong recovery from the 2.3% contraction in 2023, according to the World Food Programme’s March 2025 Market Monitor. The growth was largely driven by the industrial sector, which surged to 11% growth, while services saw modest expansion. However, agriculture lagged, posting a 0.2% annual decline…

AI image of Trincomalee Harbour
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The Importance of an Energy Hub in Sri Lanka
UAE–India–Sri Lanka Cooperation in Trincomalee

Ajith Perakum Jayasinghe What is an energy hub? An energy hub is a strategically located site for storing, refining, and distributing energy resources such as petroleum, natural gas, and electricity. According to the International Energy Agency (IEA), energy hubs are “key nodes that enable flexible energy flows, ensuring balance and stability across interconnected systems.” Globally,…

Sri Lankan tution class උසස් පෙළ ටියුෂන්
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Will Tuition Classes Be Taxed Soon?
Rs. 210 Billion Annual Tuition Economy Under Scrutiny

According to a report published by the state-owned Silumina newspaper on April 6, the Sri Lankan government is considering the possibility of imposing taxes on tuition classes. The government, which recently increased salaries for public sector employees, is now focusing heavily on boosting tax revenue. Prof. Wasantha Athukorala, Director of the Postgraduate Institute of Humanities…

BoC
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Bank of Ceylon to Issue Rs. 15 Billion in Debentures Soon
Initial issue valued at Rs. 10 billion, with option to extend amid high demand

The Bank of Ceylon (BoC) has announced plans to issue 100 million debentures valued at Rs. 100 each, totaling Rs. 10 billion. The bank also intends to issue an additional 50 million debentures worth Rs. 5 billion if there is high investor demand, bringing the potential total to Rs. 15 billion. Fitch Ratings has assigned…

CEB
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Electricity Tariffs Set to Increase by 10% Due to CEB Losses
Emergency tariff hike proposed ahead of July revision under 2024 regulatory guidelines

In a letter dated March 24, the Chairman of the Ceylon Electricity Board (CEB), Dr. Tilak Siyambalapitiya, informed Deputy Minister of Economic Development Prof. Anil Jayantha Fernando of an urgent electricity tariff hike in accordance with the guidelines issued by the Public Utilities Commission of Sri Lanka (PUCSL) in 2024, Anidda newspaper reported. Copies of…

Parate law of Sri Lanka
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Parate Law Reinstated in Sri Lanka:
A Looming Threat to Small and Medium Enterprises

The reimplementation of the controversial Parate Execution Law in Sri Lanka has sparked renewed debate across the business and legal sectors. The law, under the Recovery of Loans by Banks (Special Provisions) Act No. 4 of 1990, allows licensed commercial banks to auction properties mortgaged against loans without judicial proceedings if borrowers fail to settle…

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Is a property tax on the way?
A progressive tax levied by many states

At a press conference regarding the third review of Sri Lanka’s Extended Fund Facility from the International Monetary Fund (IMF), Sri Lanka Representative Peter Brewer highlighted the need for a property tax to ensure long-term economic stability. A property tax is a progressive tax imposed on the wealth of property owners, commonly practiced in many…