The bloom is off

Article Abstract:

Sri Lanka's economy is unsteady in some areas but strong overall as it tries to develop an export-led growth style. Exports overall grew 14.7% in 1994, but imports rose 21%, while economic growth slowed from 6.9% to 5.5%. Domestic savings slipped to 13.6% of GDP, but foreign investment kept overall domestic investment near 25% of GDP. More troubling are an unemployment rate of 13% and inflation of 8.4%, likely to rise above 11% in 1995. Government spending of about $1.3 billion in 1994 amounted to 10% of GDP.

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Walking wounded

Article Abstract:

The Colombo stock exchange, Sri Lanka, has seen a sharp drop in share prices since 1994. Shares in tobacco and liquor companies are likely to be affected by an increase in excise duties in Jun 1996. Inflation had risen to an annualized 15.6% in Jul 1996 from 12.9% in Jul 1995 and 8.4% for 1994. The civil war has weakened the economy and looks set to continue. Meanwhile rising tea prices should help the economy as should better weather and the end of a drought which created power shortages in early 1996.

Securities and Commodity Exchanges, Security and commodity exchanges, Securities Exchanges, Stock-exchange, Stock exchanges, Exchanges, Statistics, Colombo Stock Exchange

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Murder's shadow

Article Abstract:

Sri Lanka's economy, though showing signs of recovery from the slowdown caused by a drought in 1992, may deteriorate if Pres Ranasinghe Premadasa's assassination on May 1, 1993 leads to further political instability. The assassination is at least temporarily deterring foreign and domestic investment. Two worrisome indicators are the 29% growth in the money supply in Feb 1993 and the current 16% inflation rate. The tea industry's improved situation following the drought's end is a more hopeful sign.

Assassination

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