Minister of Finance and Mass Media Mangala Samaraweera further relaxing the policies announced in the Budget – 2018 on the importation of vehicles has also revised the policy on Loan to Value (LTV) ratio on the financing for purchase of vehicles under lease basis.
Market interest rates are unlikely to experience volatility through public debt-servicing requirements, as the Central Bank and the Sri Lankan government are better prepared to mange domestic and foreign debt next year with the planned implementation of the Liability Management Act and the buffers being built up by the state.
Since the Index of Industrial Production (IIP) reported for the years 2017 and 2016 were 107.7 and 101.6 respectively, the volume of industrial production has increased by 6.0% in the month of September, 2017 compared to the same month in 2016, issuing a communique Director General of Department of Census and Statistics (DCS), Dr. A.J. Satharasinghe has said.
The special levy for debt repayment is proposed to impose on all transactions has to be totally borne by the financial institutions and won’t be allowed to be passed on to customers, State Minister of Finance Eran Wickremeratne clarified.