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Sri Lanka Equity Forum » Stock Market Talk » Sri Lanka Economy

Sri Lanka Economy

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41Sri Lanka Economy - Page 3 Empty Re: Sri Lanka Economy on Thu Jun 28, 2018 6:38 pm

anges


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
policy makers are on the correct track it seems ! cannot be certain for sure ! but sudden change would be a essence for disaster ! people will decide by 2020 what they want disaster or stability ! either way it would not be good for the people just the stability .........!!!!!!!!!!!

42Sri Lanka Economy - Page 3 Empty Re: Sri Lanka Economy on Thu Jun 28, 2018 7:17 pm

samaritan


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@anges wrote:policy makers are on the correct track it seems ! cannot be certain for sure ! but sudden change would be a essence for disaster ! people will decide by 2020 what they want disaster or stability ! either way it would not be good for the people just the stability .........!!!!!!!!!!!
If policy makers are on the correct track, are you saying the Central Bank Governor is on the wrong track?

43Sri Lanka Economy - Page 3 Empty Turnaround time for economy: MR on Tue Nov 26, 2019 6:31 pm

fireshelter


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

  • Says he is aware of tough task ahead 

  • Confident of delivering policy consistency, economic growth 

  • Plans fresh legislation to protect public servants from FCID 

  • Insists he has proven track record after being Fin. Min. four times 

  • Policies to rejuvenate economy already drawn up, promises swift implementation 

  • Believes growth will be felt by everyone from farmer to big corporation 


By Uditha Jayasinghe 

Prime Minister Mahinda Rajapaksa yesterday assured policy consistency, competent leadership and economic stimulus to turnaround Sri Lanka’s economy in the shortest possible time, when assuming duties as the Finance Minister.   

Speaking at the Finance Ministry, Prime Minister Rajapaksa spoke extensively on what he termed the shortcomings of the previous administration. He insisted that due to their numerous shortcomings, the economy had been suffering for a number of years and it was now his responsibility as Finance Minister, for the fourth time, to implement solutions. 

He also made an effort to bolster the confidence of the public sector, censuring the Financial Crimes Investigations Division (FCID) for its conduct and assuring that he would bring in legislation which would protect all public employees who made decisions based on “good intentions” from any legal persecution.      

“The FCID has frightened public servants to the point they are afraid to take decisions. In the near future I hope to introduce legislation that will protect any public servant working with good intent. Fear of persecution has resulted in the public sector grounding to a virtual halt,” he told the Finance Ministry staff, well-wishers and reporters.

Rajapaksa pointed out that the policy manifesto of President Gotabaya Rajapaksa aimed to achieve a slew of goals for Sri Lanka, including increasing economic growth to 6.5%, per capita income to $ 6,500, delivering sweeping tax cuts while maintaining the Budget deficit under 5% and bringing interest rates to single digits.

“Policies to rejuvenate the economy have already been drawn up and implementing them will happen fast. Not only will we provide relief, we will also provide a boost to the economy and achieve the targets that have been set out in our manifesto. We are confident that we can achieve this but it can only be done with the dedication and hard work of everyone. We will create an economy that will provide tangible prosperity for everyone, including fishermen, farmers, small enterprises and large companies.”

Rajapaksa severely criticised the previous administration headed by former Prime Minister Ranil Wickremesinghe, whom he insisted had taken on a country that was experiencing good growth.  

“This is the fourth time I have become the Finance Minister and at each instance there have been different challenges for us to deal with. This time I have become Finance Minister at a critical point for Sri Lanka. To understand the weight of this challenge it is necessary to look back at where we were in 2014. At that point, for five years the average growth rate was 6.8%, our GDP growth had grown to $ 79 billion, inflation was at 3.3% and reserves were at a historical high of $ 8.2 billion,” he said. 

Rajapaksa added that the exchange rate was at about Rs. 130, lamenting the depreciation of the rupee that had taken place since then, and argued that the country’s debt had increased as a result. He also contended that poverty had been under control, as much as 98% of the population had uninterrupted electricity, the Budget deficit was low and taxes were at a level which people could bear. Debt as a percentage of GDP had reduced to 71% from 91%. 

“In addition, Sri Lanka had the capacity and background to face a global crisis with courage and professionalism. Even though there was a humanitarian effort underway, resources for this were found by the Finance Minister. There were single-digit loan rates with the free circulation of money. There were also many infrastructure projects being implemented across the country. Local and foreign investors had confidence in Sri Lanka. The entire country, in short, was like one large construction site. That was the situation when I handed over the Government and left. This situation has completely reversed in the past few years.  

“All sectors of the economy are stagnating today, growth is slow and loan rates have doubled along with inflation. The private sector has fallen, investors have lost their confidence in Sri Lanka, even the tourism industry, which was the only bright spot, suffered badly after the Easter Sunday attacks. Thousands of companies have closed and non-performing loans are at a point never seen before,” he stated. 

Even though efforts were made to draw attention to these issues by his party, the warnings went unheeded, Prime Minister Rajapaksa said. He praised the public for giving a resounding mandate to President Gotabaya Rajapaksa and paving the way for him to return as Finance Minister to provide solutions.     

“I’m fully aware of how challenging this task is and how important it is to turn around the economy. We have to quickly create an environment where the public sector, the private sector and other stakeholders can have confidence and policy consistency. When we are successful in doing this, the confidence in our economy will improve and investment will increase. A positive cycle that benefits the poor and middle classes will be created.

44Sri Lanka Economy - Page 3 Empty More Govt Jobs Destroy Economy on Wed Jan 22, 2020 7:44 am

NANDANA2012


Manager - Equity Analytics
Manager - Equity Analytics
More than debt moratorium, tax cuts (Both have a positive effect medium term) or credit rating downgrade,  More Govt Jobs will hamper the economy and will never recover from there...

Actually none of these other efforts will not be fruitful after creating Macro economic issues which destroy economy and then also keeping SOE's without privatising..

https://economynext.com/sri-lanka-tax-payer-to-bear-unemployable-graduates-burden-from-march-41133/

Another cycle same output.. If Govt want to give Jobs to unemployed and poor, they have to arrange them for Private sector and ask them to work and earn. Govt can hire them or ask Private sector to pay half while Govt give half till they get trained for few years, afterwards they have to be absorbed or find other jobs. The money given by Govt can be considered a Long term loan and asked to pay later. Then these people will become productive labour. . Now these people going to sleep and earn in the Govt sector. Simply a burden on Tax payers and private sector. Private sector and general public will be loaded with some taxes or another to cover their salaries....

Who is advising this Govt to do these crazy things ..... ??


What is your idea ??

45Sri Lanka Economy - Page 3 Empty Re: Sri Lanka Economy on Wed Jan 22, 2020 10:29 am

ThilinaM


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
privet sector have to pay gvt pin padi jobs

ThilinaM

ThilinaM
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
privet sector have to pay gvt Pin jobs.

47Sri Lanka Economy - Page 3 Empty Re: Sri Lanka Economy on Wed Jan 22, 2020 10:31 am

ThilinaM

ThilinaM
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
gvt jobs are salary without value addition. cost to the country without benifit

48Sri Lanka Economy - Page 3 Empty Re: Sri Lanka Economy on Wed Jan 22, 2020 10:38 am

Quibit

Quibit
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Sri Lanka Economy - Page 3 Screen57

49Sri Lanka Economy - Page 3 Empty Re: Sri Lanka Economy on Wed Jan 22, 2020 1:26 pm

NANDANA2012


Manager - Equity Analytics
Manager - Equity Analytics
@ThilinaM wrote:privet sector have to pay gvt pin padi jobs

Exactly Thilina, it is time private sector and self employed etc with over 7 Million Voters get together and work as one force to against 1.4 Million Govt sector workers who always get many benefits using their vote base...

50Sri Lanka Economy - Page 3 Empty Re: Sri Lanka Economy on Wed Jan 22, 2020 1:32 pm

NANDANA2012


Manager - Equity Analytics
Manager - Equity Analytics
@ThilinaM wrote:gvt jobs are salary without value addition. cost to the country without benifit

Very True, the problem is its too high in Sri Lanka. All political parties give jobs to get votes after each election just for nothing.. Then they get compensation to stay home if some entities are closed.. Pensions.. so many nebefits.. Poor tax payers have to bear all these.. THIS IS TOP 10 ECONOMIC ISSUES IN SRI LANKA in addition to LOSS MAKING SOE's. So this Govt also after having a good majority trying to do the same...


It is time private sector and self employed etc with over 7 Million Voters get together and work as one force against 1.4 Million Govt sector workers who always get many benefits using their vote base...
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51Sri Lanka Economy - Page 3 Empty Re: Sri Lanka Economy on Wed Jan 22, 2020 1:41 pm

ThilinaM

ThilinaM
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@NANDANA2012 wrote:
@ThilinaM wrote:privet sector have to pay gvt pin padi jobs

Exactly Thilina, it is time private sector and self employed etc with over 7 Million Voters get together and work as one force to against 1.4 Million Govt sector workers who always get many benefits using their vote base...
it is time private sector and self employed etc with over 7 Million Voters get together and work as one force to against 1.4 Million Govt sector workers who always get many benefits using their vote base...

52Sri Lanka Economy - Page 3 Empty Re: Sri Lanka Economy on Wed Jan 22, 2020 2:26 pm

NANDANA2012


Manager - Equity Analytics
Manager - Equity Analytics
MR and GOTA have done many BIG things, done many difficult things, But they have done many mistakes too like Mattala. They did many with Chinese loans, but by the time they got defeated, economy and finance had come to a boiling point... There is no country in the world who will have a sound economy with a extra large Government sector and loss making State Enterprises... Just to please few thousands voters you make fundamentally wrong decisions and then you loose Millions of voters when the economy is stuck.. When u cant maintain exchange rate due to high Government spending, all sort of issues (Inflation, debt increase, low foreign investments, specially in stocks, low growth, business stagnation, high crime, poverty increase, high taxes  ) start to happen...

So either we have to be like Cuba (Closing to outside world) or we have to follow economic fundamentals.. Then achieving 6-8% growth will not be difficult and when growth is good, all other issues will start dissapearing....NO BASICS - NO GROWTH....

KavinduTM

KavinduTM
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

KavinduTM

KavinduTM
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
http://www.colombopage.com/archive_20A/Jan25_1579898998CH.php

“Our country was in the forefront of Asia in terms of economic growth from 2005-2014. Economic growth has slowed down in the last few years. One of the biggest challenges we face today is the revival of the economy,” President Rajapaksa said.


“New technology must be used to rebuild the economy. Skilled labor is another important factor. The education system too needs to be transformed to create a strong economy. It is a top priority to get more youth into tertiary education,” the President also said.


“We need to identify areas where we can serve the people and contribute more to economic growth. Institutions such as the Tourist Board and the Board of Investment have a major responsibility. These institutions should free themselves from the allegations leveled against them in the past and contribute to the economic recovery,” said the President.

55Sri Lanka Economy - Page 3 Empty Re: Sri Lanka Economy on Sat Jan 25, 2020 8:13 pm

Teller

Teller
Moderator
Moderator
Petroleum and electricity board estimate loss 200 billion lkr, more than 1 billion USD... think how to run..its so simple.


_________________




Teller said is said..

56Sri Lanka Economy - Page 3 Empty Re: Sri Lanka Economy on Sat Jan 25, 2020 8:29 pm

NANDANA2012


Manager - Equity Analytics
Manager - Equity Analytics
@Teller wrote:Petroleum and electricity board estimate loss 200 billion lkr, more than 1 billion USD... think how to run..its so simple.
Yes true, Sri Lanka has no future with these loss making, corrupt, inefficient, filled with political staff - Govt entities. 

This Govt (Unlike Yahapalanaya) is capable of changing them, but problem is they believe these have to be kept under Govt (As they will lose earning opportunities and chance to give jobs to party people as these are very lucrative places)

We are now a developed nation if we had privatised (Properly - not given to friends for a penny) these 15/20 years back.

In total they make about 200 Billion Losses annually - a Big Chunk of Govt Expenses - about 10% of tax income and About Rs. 40000 from each family..

57Sri Lanka Economy - Page 3 Empty Re: Sri Lanka Economy on Sun Jan 26, 2020 10:01 am

NANDANA2012


Manager - Equity Analytics
Manager - Equity Analytics
@ThilinaM wrote:gvt jobs are salary without value addition. cost to the country without benifit

Pls promote this petition, if you agree with it..

https://www.change.org/SriLanka_Pension

NANDANA2012


Manager - Equity Analytics
Manager - Equity Analytics
@Teller wrote:Petroleum and electricity board estimate loss 200 billion lkr, more than 1 billion USD... think how to run..its so simple.
Also if you calculated  Srilankan losses for last few years - You all have paid them about Rs. 40000. 

SO YOU ARE ENTITLED TO ASK A FREE TICKET FROM THEM....

Ekanayake90

Ekanayake90
Senior Equity Analytic
Senior Equity Analytic
Opportunity2030 study reveals the almost USD10 trillion private-sector investment opportunity in contributing to the UN Sustainable Development Goals (SDGs) in emerging markets
At USD7.3 billion, the greatest private-sector investment opportunity in Sri Lanka is investment in achieving and maintaining universal access to electricity (SDG 7)


The Standard Chartered SDG Investment Map reveals an almost USD 10 trillion (USD 9.668 trillion) opportunity for private-sector investors across all emerging markets, with Sri Lanka representing USD16.2 billion of that total.

The study identifies opportunities for the private sector to contribute to three infrastructure-focused goals between now and 2030: SDG 6: Clean Water and Sanitation, SDG 7: Affordable and Clean Energy and SDG 9: Industry, Innovation and Infrastructure across emerging markets.

Big population, big opportunities

The greatest opportunity in Sri Lanka is found in achieving and maintaining universal access to electricity (a key SDG 7 indicator), representing a USD 7.3 billion private-sector investment opportunity. This takes into account the proportion of the Sri Lankan population currently without access to electricity (2 per cent), projected population growth, and the growing demand for power as the economy develops.

For SDG 9, which encourages improvement in industry, innovation and infrastructure, Opportunity2030 highlights private sector investment opportunities in transport and improving digital access. Securing full digital adoption in Sri Lanka – a combination of mobile phone subscription rates and internet connectivity – would require private sector investment of around USD 4.1 billion. To significantly improve Sri Lanka’s transport infrastructure by 2030 provides a USD 4.6 billion investment opportunity for the private sector.

Bingumal Thewarathanthri, Chief Executive Officer at Standard Chartered Sri Lanka said:

“Sri Lanka’s commitment to the Sustainable Development Goals (SDGs) make it an attractive prospect for the private sector to invest with impact. The government is looking to increase public-private collaboration and its Vision 2025 programme aligns with the SDGs, demonstrating the commitment to the goals.

“Opportunity2030 reveals the opportunities private sector investors have to make a difference in achieving the SDGs. These findings show that in Sri Lanka there is a chance to have a real impact on millions of people’s lives over the next decade.”

60Sri Lanka Economy - Page 3 Empty Re: Sri Lanka Economy on Tue Jan 28, 2020 10:10 pm

Teller

Teller
Moderator
Moderator
This is a big lie.

Opportunity2030 study reveals the almost USD10 trillion


_________________




Teller said is said..

KavinduTM

KavinduTM
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
http://www.colombopage.com/archive_20A/Jan28_1580232434CH.php

Jan 28, Colombo: Sri Lanka Prime Minister Mahinda Rajapaksa says that as a policy, the government will not sell any national resources to foreigners.


The Prime Minister said this while participating at a function held at the Sri Lanka Customs Headquarters auditorium today to mark International Customs Day.
Addressing the gathering the Prime Minister said that the services of the Customs Department should be more efficient.


“We can promise that the events of the past ministry will not happen. We have great faith in you. It is your responsibility to exercise that trust and function more efficiently,” he said.


The Prime Minister said despite the efforts many things are brought into the country without paying taxes and if the Customs can stop them, the state revenues can be increased further.


Pointing out that the development of the country depends on the state revenues, the Prime Minister said about 57 percent of the Customs revenue is used for the country’s development.


The Prime Minister said the previous government sold the national resources belonged to the people of this country to foreigners.


“As a government policy, we are not going to sell any of our resources to foreigners,” said Prime Minister Mahinda Rajapaksa.


Ministers Wimal Weerawansa, Johnston Fernando, State Minister Shehan Semasinghe and Finance Ministry Secretary SR Attygalle and several others were present at the occasion.

62Sri Lanka Economy - Page 3 Empty Re: Sri Lanka Economy on Wed Jan 29, 2020 5:51 pm

Teller

Teller
Moderator
Moderator
We should not sell and strictly no lease 99 years too. Recently 3 acre was given 42 millions $ , for 99 yrs


_________________




Teller said is said..

63Sri Lanka Economy - Page 3 Empty Re: Sri Lanka Economy on Wed Jan 29, 2020 6:14 pm

Arrowrisk

Arrowrisk
Manager - Equity Analytics
Manager - Equity Analytics
@KavinduTM wrote:http://www.colombopage.com/archive_20A/Jan28_1580232434CH.php

Jan 28, Colombo: Sri Lanka Prime Minister Mahinda Rajapaksa says that as a policy, the government will not sell any national resources to foreigners.


The Prime Minister said this while participating at a function held at the Sri Lanka Customs Headquarters auditorium today to mark International Customs Day.
Addressing the gathering the Prime Minister said that the services of the Customs Department should be more efficient.


“We can promise that the events of the past ministry will not happen. We have great faith in you. It is your responsibility to exercise that trust and function more efficiently,” he said.


The Prime Minister said despite the efforts many things are brought into the country without paying taxes and if the Customs can stop them, the state revenues can be increased further.


Pointing out that the development of the country depends on the state revenues, the Prime Minister said about 57 percent of the Customs revenue is used for the country’s development.


The Prime Minister said the previous government sold the national resources belonged to the people of this country to foreigners.


“As a government policy, we are not going to sell any of our resources to foreigners,” said Prime Minister Mahinda Rajapaksa.


Ministers Wimal Weerawansa, Johnston Fernando, State Minister Shehan Semasinghe and Finance Ministry Secretary SR Attygalle and several others were present at the occasion.

Biggest joke of the year..... Very Happy

As long as majority of Srilanka citizens are blind, politicians can make these types of nonsense joke frequently as a time pass.....

64Sri Lanka Economy - Page 3 Empty Re: Sri Lanka Economy on Wed Jan 29, 2020 6:20 pm

KavinduTM

KavinduTM
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Teller wrote:We should not sell  and strictly no lease 99 years too. Recently 3 acre was given 42 millions $ , for 99 yrs

Ah 99 yrs is too much neh  Neutral

However they earned 2 times from same deal which was started by previous gov.

65Sri Lanka Economy - Page 3 Empty Re: Sri Lanka Economy on Wed Jan 29, 2020 6:22 pm

KavinduTM

KavinduTM
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Arrowrisk wrote:
@KavinduTM wrote:http://www.colombopage.com/archive_20A/Jan28_1580232434CH.php

Jan 28, Colombo: Sri Lanka Prime Minister Mahinda Rajapaksa says that as a policy, the government will not sell any national resources to foreigners.


The Prime Minister said this while participating at a function held at the Sri Lanka Customs Headquarters auditorium today to mark International Customs Day.
Addressing the gathering the Prime Minister said that the services of the Customs Department should be more efficient.


“We can promise that the events of the past ministry will not happen. We have great faith in you. It is your responsibility to exercise that trust and function more efficiently,” he said.


The Prime Minister said despite the efforts many things are brought into the country without paying taxes and if the Customs can stop them, the state revenues can be increased further.


Pointing out that the development of the country depends on the state revenues, the Prime Minister said about 57 percent of the Customs revenue is used for the country’s development.


The Prime Minister said the previous government sold the national resources belonged to the people of this country to foreigners.


“As a government policy, we are not going to sell any of our resources to foreigners,” said Prime Minister Mahinda Rajapaksa.


Ministers Wimal Weerawansa, Johnston Fernando, State Minister Shehan Semasinghe and Finance Ministry Secretary SR Attygalle and several others were present at the occasion.

Biggest joke of the year..... Very Happy

As long as majority of Srilanka citizens are blind, politicians can make these types of nonsense joke frequently as a time pass.....

You must be talking about that land deal. And we are not blind Mr.

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