Inflation ( CCPI)1.7% (June 2024)
GDP5.3% (1Q 2024)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate9.91%
12M T-Bill Rate10.21%
2Y T-Bond Rate10.65%/ 10.75%
4Y T-Bond Rate11.80% / 11.85%
USD/LKR303/304
Reserves $5.6Bn (June 2024)
Cum. Trade Deficit $1,229 Mn (March 2024 cumulative)
Cum. Fiscal DeficitLKR 361Bn (April 2024)

COVID19 accelerates spreading in Gulf states

Global IndexesApr 24, 2020
COVID19 accelerates spreading in Gulf states
Annual worker remittances to Sri Lanka estimated at USD 6.7Bn, majority are from Gulf states of Saudi, UAE, Kuwait, Qatar, Oman, Bahrain. COVID19 spreading has been accelerated in those countries in recent weeks risking many Sri Lankan foreign workers. 70% of the recent COVID positive case of Singapore found from the dormitories in which Singapore’s migrant workers live. Khaleejtimes.com reports " South Asian workers facing wage delays and job losses stranded without earnings, food or housing". While opendemocracy.net reports "The number of cases have been exponentially increasing in the Gulf states and although little information has been released by official authorities about how it is particularly affecting migrant workers, many facilities housing migrants all over the region, such as Qatar’s largest labour camp, have been under lockdowns and many companies, whose staff primarily consists of migrant labor, have also quarantined their workers after positive cases started emerging."

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