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The Sri Lankan economic crisis [8] is an ongoing crisis in Sri Lanka that started in 2019. [9] It is the country's worst economic crisis since its independence in 1948. [9] It has led to unprecedented levels of inflation, near-depletion of foreign exchange reserves, shortages of medical supplies, and an increase in prices of basic commodities. [10]
Services accounted for 58.2% of Sri Lanka's economy in 2019 up from 54.6% in 2010, industry 27.4% up from 26.4% a decade earlier and agriculture 7.4%. [41] Though there is a competitive export agricultural sector, technological advances have been slow to enter the protected domestic sector. [42]
In the past four years, the share of people living below the poverty line in Sri Lanka has risen to 25.9 per cent. The World Bank forecasts the economy to grow by just 2.2 per cent in 2024.
The South Asian Free Trade Area (SAFTA) is a 2004 agreement that created a free-trade area of 1.6 billion people in Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka with the vision of increasing economic cooperation and integration. [1]
Sri Lanka was closing in on victory and another test series sweep in Bangladesh after reducing the host to 268-7 in an improbable chase of a 511-run target on Tuesday. Pacer Lahiru Kumara, left ...
Follow live coverage of Bangladesh vs Sri Lanka from the Sri Lanka in Bangladesh 2024 today. The ICC Test Championship sees nine teams compete across a two-year cycle of matches before a two-team ...
Sri Lanka is the oldest democracy in Asia in terms of universal suffrage, which was granted by the Donoughmore Constitution in 1931. Today, fundamental rights are enshrined in the constitutions of all South Asian countries. The vast expanse of subnational units in India and Pakistan share a common feature of parliamentary government.