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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]
The welfare state of Sri Lanka began to evolve in the 1930s through to the 1970s, and comprises expenditures by the government of Sri Lanka intended to improve health, education, employment and social security. The Sri Lankan system has been classified as a liberal welfare state system.
Private provident funds existed in the private sector, with some companies contributing on a voluntary basis until 1958, when the Employees' Provident Fund was established by S. W. R. D. Bandaranaike following the enactment of the Employees' Provident Fund Act No 15 of 1958 which established the Employees' Provident Fund which made it compulsory for all employers and employees to contribute if ...
The Constitution of Sri Lanka has been the constitution of the island nation of Sri Lanka since its original promulgation by the National State Assembly on 7 September 1978. It is Sri Lanka's second republican constitution and its third constitution since the country's independence (as Ceylon) in 1948, after the Donoughmore Constitution ...
Therefore, the Sri Lankan government faces a dilemma of pursuing growth that is equitable; trying to promote economic growth without leaving the poor in the rural area behind. Apart from government policies, Non-Governmental Organizations (NGOs) help ease the situation too.
Government of Sri Lanka: Headquarters: The Secretariat, Lotus road, Colombo 1 ... The Ministry of Finance, Economic Stabilization and National Policies [2] ...
Sri Lanka's economy is expected to grow 3% this year, reversing last year's contraction, while inflation, which peaked at 70% in September 2022, moderated to 0.5% in August.
The Port City Colombo was suspended after the end of the Rajapaksa government in 2015 due to alleged claims related to the sovereignty of Sri Lanka and adverse environmental impacts. [9] [10] [11] The Port City Colombo is governed by an independent authority and will not be subject to the Colombo Municipal Council.