Cheers
Article Abstract:
The Sri Lankan economy continues to have some problems but there are many indications of improvement. The trade deficit widened by 27.6% in the first half of 1997, inflation increased to 14.7% in Jun 1997, and the value of the rupee against the US dollar slipped to 59 in Aug 1997. Signs of improvement include a falling government deficit and a growth rate expected to rise to 5.2% for 1997. Privatisation sales have boosted the government's chances of meeting its 1997 fiscal target of a deficit of 65 billion rupees, and good rains have boosted agricultural output, which accounts for 18% of GDP.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1997
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Bountiful harvest
Article Abstract:
Favorable weather has allowed Sri Lanka's agriculture to revive following the drought of 1992, which in turn will probably cause gross domestic product to rise 5.7% in 1993, in contrast to the anemic 4.4% growth in 1992. In addition, Pres Ranasinghe Premadasa's assassination on May 1, 1993 has not blighted economic activity as some observers feared. However, three problems persist: high interest rates jacked up to fight inflation; a widening trade gap; and the government's budget deficit.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1993
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No rain, no shine
Article Abstract:
Sri Lanka is suffering from the effects of a prolonged drought which threatens to cripple the nation's economy. The absence of rain is adversely affecting the agricultural sector including tea and coconut growers. Approximately 84% of Sri Lanka's power comes from hydroelectricity and the drought has forced utilities to impose lengthy brownouts that last up to five hours daily. The dry weather is contributing to a worsening economy that already suffers from a civil war.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1996
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