Social
Sri Lanka state sector to shrink by 30,000
Sri Lanka reduced the retirement age of state employees from 65 to 60 years in a bid to bring down government expenditure. But most of the state employees are eligible for pension (social security), which make up 85% of their salary.
In order to secure USD 2.9Bn IMF rescue financial package, the reduction of the budget deficit is essential as the country is unable to finance this deficit anymore.
Accordingly, the majority of employees (30.4%) are Professionals while the second highest of almost 20% are in elementary occupations
Jan 1, 2023
Sri Lanka state sector to shrink by 30,000
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