Inflation ( CCPI)1.7% (June 2024)
GDP5.3% (1Q 2024)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate9.55%
12M T-Bill Rate10.07%
2Y T-Bond Rate10.55%/ 10.65%
4Y T-Bond Rate11.80% / 11.85%
USD/LKR303/304
Reserves $5.6Bn (June 2024)
Cum. Trade Deficit $2,180 Mn (May 2024 cumulative)
Cum. Fiscal DeficitLKR 361Bn (April 2024)

Cost on Fertilizer imports fell in 1Q 2023

OtherMay 15, 2023
Cost on Fertilizer imports fell in 1Q 2023

Global fertilizer prices are falling substantially after almost two years, and the war in Ukraine had a major impact on the global supply of agricultural fertilizers, potentially undermining food security around the world. It was one reason the previous government changed the fertilizer policy overnight and lost popularity.

Potash exports from Belarus have fallen by more than 50% due to the restriction on using EU territory for transit purposes, which is one of the biggest fertilizer exporters along with Russia.

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