- Former President & SLPP Leader Mahinda Rajapaksa says people should base their decisions on proper data & facts, and not on noise, lies & propaganda: also says the SL economy grew at an average 6% annually during his 9 years as President, leading to per capita GDP increasing from USD 1,242 in 2005 to USD 3,819 in 2014: highlights the “debt to GDP ratio” was reduced ro 69% in 2014 from 90% in 2005: notes that after he left office, economic growth declined, reaching negative levels in 2019: attributes the economic decline from 2015-2019 to mismanagement due to accumulation of foreign commercial debt, particularly ISBs, during the post-2015 period.
- Treasury Secretary Mahinda Siriwardana & 2 other officials from the Finance Ministry questioned for approximately 10 hours by the CID over the importation of Human Immunoglobulin.
- President Ranil Wickremesinghe urges hotels to go above the Minimum Room Rate: asks them to harness SL’s culinary prowess, culture, diversity & scenic beauty: also asks industry to seek higher revenue: commends the anticipated achievement of 1.5mn tourists in 2023 & asks the industry to target 2.5 mn tourists next year.
- Chamber of Commerce President Duminda Hulangamuwa says the economy needs it to expand at least by 4-5% annually to create new jobs: asserts 2023 was an “year of stabilization” with decline in inflation, interest rates, appreciation of Rupee and progress in fiscal & monetary reforms: analysts point out however that in 2023, economic growth has plummeted, millions of livelihoods lost, NPLs escalated, poverty doubled, peoples’ EPF balances slashed, & utilities (electricity, water, fuel & gas) usage significantly reduced.
- SJB MP Vadivel Suresh reportedly removed from his position as the SJB’s Passara Organiser: decision has reportedly been taken in the wake of the MP voting in favour during the vote on the 2nd reading of the 2024 Budget.
- Joint Apparel Association Forum says apparel exports continue its downward trend: October’23 exports decline 20% year-on-year to USD 331mn.
- Finance Ministry’s fiscal report reveals 38 state-owned enterprises out of 52 strategic ones now running at a profit after massive losses in the recent past: transformation said to be due to the Govt’s reform measures of 2022/23, including cost-reflective electricity tariff adjustment, fuel price formula and revision of water tariff, etc.
- Dept of Immigration & Emigration announces a “visa free” regime for nationals of China, India, Indonesia, Russia, Thailand, Malaysia & Japan, with immediate effect until 31st Mar’24: scheme launched as a pilot program to rebuild the tourism industry.
- Govt to borrow USD 60mn from the Asian Development Bank under the 2nd Integrated Road Investment Programme: SL is currently only repaying loans taken from the ADB, World Bank, IMF & other multi-lateral financial institutions, after the default announcement of 12th April’22.
- President Ranil Wickremesinghe says SL needs USD 100 bn to become a “net zero emitter” by 2040: adds there are no immediate plans to utilise green bonds: also says some funds will come from investors who are “interested”.
