The Asian Development Bank's (ADB) on said its Board of Directors has approved $75 million in additional financing to continue support toward the development of small and medium-sized enterprises (SMEs), considered vital for economic growth and job creation in Sri Lanka.
Producer’s Price Index for all economic activities which include, agriculture, manufacturing and electricity and water supply increased slightly by 1.3 index points to 130.2 index points in November 2017 as compared to October 2017.
Sri Lanka’s Index of Industrial Production (IIP) in the month of November 2017 has improved by 4.6% from 104.3% in November 2016 to 108.9% in November 2017, statistics released by the Department of Census and Statistics (DCS), showed.
Macroeconomic and financial conditions have been stable, despite a series of weather-related supply shocks. The authorities remain committed to the economic reforms under the program and have undertaken measures to improve government revenue and accumulate international reserves, said Mitsuhiro Furusawa, Acting Chair and Deputy Managing Director of the International Monitory Fund following the Executive Board’s discussion of the review on Sri Lanka, at the IMF Headquarters in Washington DC.
The World Bank indicated in its latest report that the Sri Lanka has made significant progress in human development and Social indicators rank among the highest in South Asia, compare favorably with those in middle-income countries.