Inflation ( CCPI)0.9% (March 2024)
GDP4.5% (4Q 2023)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate10.03%
12M T-Bill Rate10.23%
2Y T-Bond Rate10.85%/ 11.00%
4Y T-Bond Rate12.10% / 12.20%
USD/LKR300/301
Reserves $4.951Bn (March 2024)
Cum. Trade Deficit $860 Mn (Feb 2024 cumulative)
Cum. Fiscal DeficitLKR 2,020 Bn (Nov 2023)

Contribution of Hydro electricity declines despite rain in Colombo

EnergyFeb 20, 2023
Contribution of Hydro electricity declines despite rain in Colombo

Sri Lanka experienced the drought season during the first four months of 2022, it seems to repeat in 2023 as well. The country faces a power crisis in the first quarter of 2022, which triggered political chaos and the government had to spend limited FX for thermal electricity generation which was a costly method.

The government started losing revenue due to these expenses and analysts indicate that a similar scenario will occur in 2023 as well.

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