Sunday, July 23, 2017

Sri Lanka: Prospects for the Economy and Policy Ambiguities

There should be some protection for the agricultural sector, particularly given the growth being negative, amounting to -4.2 percent during 2016. This cannot be attributed solely to natural disasters like droughts and/or floods. These calamities should be anticipated even in the future.

by Laksiri Fernando -

( July 23, 2017, Sydney, Sri Lanka Guardian) There is some confidence in the economy as reflected in the sales or turnaround in the Colombo Stock Exchange (CSE) during the first six months of this year, particularly the last three months. Dropping 200 marks within the first three months, ASPI (All Share Price Index) has gained 700 marks by the end of June, the overall ASPI to be around 6,700. The situation is still below the 2010-2011 level, when suddenly the CSE became the best stock market in the world in 2010, which could not be sustained due to the tarnishing of its image through insider trading and other malpractices, sanctioned by the last regime.