Issuing National Consumer Price Index (NCPI), for the month of January 2018, Dr. Amara Satharasinghe, Director General of Census and Statistics said that the Year on Year inflation based on NCPI has declined to 5.4% from 7.3% in December 2017.
The National Economic Council (NEC) will introduce an accelerated program to strengthen the national economy by introducing the necessary reforms and selecting new priorities in economic management in the country, Co- cabinet Spokesman and Minister of Health, Nutrition and Indigenous Medicine Dr. Rajitha Senaratne said today.
Sri Lanka's Central Bank releasing the monetary policy review on Thursday said considering developments in the domestic and international macroeconomic environment it has decided to maintain current policy interest rates as the current monetary policy stance is appropriate.
The Central Bank Monetary Board has noted that the economy is currently operating at a level below its potential but as per the available indicators, the economy is likely to recover from the effects of adverse weather conditions in the past two years and benefit from the expected boost in external demand and foreign direct investment inflows.
By the third quarter of 2017, the estimated economically active population in the country was 8.52 million, the Quarterly Report of Sri Lanka Labour Force Survey conducted by the Department of Census and Statistics released recently stated. Out of this 63.1 percent are males and 36.9 percent are females.
Inflation, as measured by the change in the Colombo Consumers' Price Index (CCPI) declined to 5.8 percent in January 2018 from 7.1 percent in December 2017, the Department of Census and Statistics reported.
The external sector performance in November 2017 was supported by continued inflows to the financial account of the Balance of Payments (BOP) mainly with higher foreign inflows to the government securities market, and marginally improved earnings from tourism.
Australia and Sri Lanka signed a Subsidiary Arrangement for grant assistance to work together on strengthening governance in Sri Lanka, through a four-year program valued at up to AUD 31 million (LKR3,850 million).