economic recovery
Can we learn anything from Sri Lanka?
Sri Lanka’s worst economic crisis since its independence began in 2019. Experts attribute a plethora of reasons behind the crisis. First, after the end of the civil war in 2009, the country emphasised providing goods for the local market instead of trade, a decision that led to a continued trade deficit of more than $3 billion each year. Along with trade policies, tax cuts in 2019 led to a loss of government revenue of over $1.4 billion a year.
A bleak time to draw up budget
In June last year when Finance Minister AHM Mustafa Kamal placed the budget in parliament, inflation had already been creeping up and the foreign currency reserves were on the decline. These two had derailed the full economic recovery from a two-year crisis wrought by the Covid pandemic.
Migration can boost recovery, growth and resilience across South Asia
Migration worldwide happens for two main reasons, both central to economic development. First, people migrate to seek better jobs and move to where they are more productive. Second, people migrate to cope with local economic shocks, such as weather-related disasters that continue to strike South Asia at a resounding pace.
Post-Covid challenges for our labour market
Specific policy incentives are needed to stimulate the economy and revive the labour market.
Can we learn anything from Sri Lanka?
Sri Lanka’s worst economic crisis since its independence began in 2019. Experts attribute a plethora of reasons behind the crisis. First, after the end of the civil war in 2009, the country emphasised providing goods for the local market instead of trade, a decision that led to a continued trade deficit of more than $3 billion each year. Along with trade policies, tax cuts in 2019 led to a loss of government revenue of over $1.4 billion a year.
A bleak time to draw up budget
In June last year when Finance Minister AHM Mustafa Kamal placed the budget in parliament, inflation had already been creeping up and the foreign currency reserves were on the decline. These two had derailed the full economic recovery from a two-year crisis wrought by the Covid pandemic.
Migration can boost recovery, growth and resilience across South Asia
Migration worldwide happens for two main reasons, both central to economic development. First, people migrate to seek better jobs and move to where they are more productive. Second, people migrate to cope with local economic shocks, such as weather-related disasters that continue to strike South Asia at a resounding pace.
Post-Covid challenges for our labour market
Specific policy incentives are needed to stimulate the economy and revive the labour market.
