Development and Economic News

The Food and Agriculture Organization of the United Nations (FAO) handed over two specially designed climate resilient fishing boats and 30 modified fish display stalls to the Fisheries Ministry, in line with FAO’s commitment to sustainable development and addressing climate change challenges.

Sri Lanka is fast losing its rubber plantations to a fast-spreading airborne fungal disease, which is severely impacting the crop output.

The World Bank has provided a loan of 34 million US dollars to strengthen the primary health care system, under the primary health care system empowerment project.

The IMF Board on Tuesday completed the first review under the 48-month Extended Fund Facility with Sri Lanka, providing the country with access to SDR 254 million (about US$337 million) to support its economic policies and reforms, the IMF said.

The workers’ remittances in the first 11 months of this year have topped the $ 5 billion mark sustaining the growth momentum.

Air Arabia, the Middle East and North Africa’s first and largest low-cost carrier last week launched a new route connecting Abu Dhabi and Colombo.

The Sectoral Oversight Committee on National Economic and Physical Plans in Sri Lanka discussed the government’s goal to attract five million tourists to the country in the year 2024.

The Government has extended the deadline for submission of Request for Qualification (RfQ) for the purchase of controlling stake in Sri Lanka Telecom (SLT) until 12 January 2024.

Claiming that the government was expecting Rs. 227 billion in state revenue from the increase of VAT from 15 percent to 18 percent, State Minister of Finance Ranjith Siyambalapitiya said today the inflation will also escalate by 2.5 percent as a result of the VAT increase.

Australian budget airline Jetstar is considering operating flights to Sri Lanka after a major shake-up to its long-haul flights.

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