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Central Bank of Sri Lanka is planning to launch a new series of currency notes.
This is the first time since 19 years the Bank is coming out with a new series of currency notes.
Deputy Minister of Finance Dr. Sarath Amunugama revealed this morning that the new series will be issued under the theme of “Development [...]
International Monetary Fund commended the Government’s Tax Reforms process, which it says will help enhance state revenue.
IMF’s Sri Lanka Resident Representative Dr. Koshy Mathai says the “substantial tax reforms” which the Sri Lankan Government has already started will help simplify the entire tax system of the country.
Mathai made these comments while speaking on Art TV’s Sunday [...]
Central Bank says Sri Lanka is ready to face the challenge, if the European Union withdraws the GSP + trade concession from Sri Lanka.
The European Union have informed the Government that it will remove the GSP + trade concession from Sri Lanka on the 15th of August this year, unless the country agrees to certain [...]
Sri Lanka’s inflation during the month of June has slowed down to 4.8% marking the 5th straight consecutive decline for the year.
During the month of May the country’s inflation was 5.3%.
Despite the slow down in June, the annual average inflation has moved up to 3.9% by June.
This is a 0.3% increase from May.
Central Bank in [...]
The Government’s revenue during the 1st 5 months of this year has seen a growth of 24.6% thus earning a sum of Rs. 298.1 billion.
During the last years same period, the collection stood at just 239.3 billion.
Out of the total figure, Rs. 258.3 billion has come from tax collections while 30 billion has come from [...]
The United Kingdom has decided to control the number of workers entering the country from outside Europe by imposing new limits to work visas issued.
A statement issued by the British High Commission in Colombo announced this by quoting British Home Secretary, Theresa May.
It stated that UK is planning to scale back the Net migration to [...]
The government today presented its 2010 budget proposal with a plan to cut its fiscal deficit to 8% with a spending plan of Rs. 1279.8 billion and a revenue target of Rs. 817.8 billion.
The deficit in rupee terms will stand at 438.8 billion in 2010 compared to Rs. 470.4 billion recorded in 2009.
The government is [...]
Dr. Sarath Amunugama, Actg. Minister of Finance and Planning started presenting the 2010 budget proposals to the parliament a short while ago.
The Government is planning to bring down the fiscal deficit to 8% during the year 2010 budget.
In a letter sent to the IMF during this month, the Government has informed the multilateral agency that it [...]
IMF has approved a US$ 407.8 million disbursement to Sri Lanka under its ongoing Stand-by Arrangement offered to the country.
This has been done taking into consideration the country’s overall economic conditions, which the IMF says is improving and the economy is likely to show strong growth this year.
It also says Inflation remains subdued and average [...]
The Executive Board of the International Monetary Fund will sit today to discuss the disbursement of the 3rd tranche of the IMF standby arrangement provided to Sri Lanka.
IMF website’s executive board calendar outlines it will discuss the “Second and Third Reviews under the Stand-By Arrangement”
Accordingly The Executive Board will discuss the Sri Lanka report submitted [...]
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