In a fresh fiscal policy stance of austerity measures, the Finance Ministry has cut down non-essential capital expenditure in ministries, departments and state institutions in a bid to save money during this economic crisis, a Ministry circular revealed.
Sri Lanka’s State Owned Enterprises (SOEs) are encountering significant operational and financial challenges for its survival in unprecedented political turmoil amidst the weakest state of the economy at present, recent report of the Finance Ministry revealed.
There is nothing new about nations collapsing under the weight of their debts. But Sri Lanka’s awful predicament highlights three new aspects of our world.