Inflation ( CCPI)50.6% (Feb 2023)
GDP-12.4% (4Q 2022)
Unemployment5.0% (3Q 2022)
3M T-Bill Rate25.99%
12M T-Bill Rate24.31%
5Y T-Bond Rate27.00%/ 27.25%
10Y T-Bond Rate22.00% / 23.00%
USD/LKR335/341
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Reserves $2.22Bn (Feb 2023)
Cum. Trade Deficit $449Mn (Feb 2023)
Cum. Fiscal DeficitLKR 1,601Bn (Nov 2022)

Social

FeaturedJan 1, 2023

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

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