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The Central Bank of Sri Lanka raised interest rates in August 2021, and Sri Lanka became the first nation in Asia to tighten the monetary policy during the pandemic era. [20] [21] On 27 August 2021, the government extended the lockdown to 6 September 2021 as the daily death toll surpassed 200 for the first time since the pandemic began. [22] [23]
Services accounted for 58.2% of Sri Lanka's economy in 2019 up from 54.6% in 2010, industry 27.4% up from 26.4% a decade earlier and agriculture 7.4%. [41] Though there is a competitive export agricultural sector, technological advances have been slow to enter the protected domestic sector. [42]
The Department of Immigration and Emigration issues a notice granting 14 days, starting from 23 February, for Russian and Ukrainian tourists living long-term in Sri Lanka to leave the country. Many of these tourists had been residing in Sri Lanka on periodic extensions of their tourist visas since the Russian invasion of Ukraine in February 2022.
The Sri Lankan economic crisis [8] is an ongoing crisis in Sri Lanka that started in 2019. [9] It is the country's worst economic crisis since its independence in 1948. [9] It has led to unprecedented levels of inflation, near-depletion of foreign exchange reserves, shortages of medical supplies, and an increase in prices of basic commodities. [10]
The tax revenue to GDP ratio is just about 11.6 percent as of 2018, which is one of the lowest rates among the upper-middle income earning countries. [2] At present, the government of Sri Lanka also face major challenges regarding the continuous budget deficits where government expenditures have exceeded the government tax revenue. [3]
Buoyed by promised pardons of their brethren for their Jan. 6 crimes and by Trump’s embrace of popular extremist far-right figures, those groups will likely see a resurgence post-January 2025 ...
1 May – May Day; 12 May – Vesak Full Moon Poya Day; 13 May – Day following Vesak Full Moon Poya Day; 7 June – Id Ul-Alha; 10 June – Poson Full Moon Poya Day; 10 July – Esala Full Moon Poya Day; 8 August – Nikini Full Moon Poya Day; 5 September – Milad un-Nabi; 7 September – Binara Full Moon Poya Day; 6 October – Vap Full ...
The election signified a major political realignment in Sri Lanka. [10] Dissanayake's victory was the first time a third-party candidate was elected president. This was also the first election where neither of the top two candidates were endorsed by the United National Party or the Sri Lanka Freedom Party.