FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

Latest topics

» THE NEXT OPPORTUNITY - GET IN
by morphy360 Today at 10:11 am

» LOLC FINANCE PLC (LOFC.N0000)
by Surajmp Today at 10:03 am

» UNION BANK - Ownership change requires approval
by God Father Yesterday at 5:51 pm

» PEOPLE'S INSURANCE PLC (PINS.N0000)
by K.R Yesterday at 4:21 pm

» PMB/PLC/PINS
by K.R Yesterday at 4:19 pm

» Focus on Government controlled entities
by K.R Yesterday at 8:06 am

» Sri Lanka cleared to borrow cheaper IDA funds by World Bank
by K.R Tue Dec 06, 2022 10:14 am

» PLR (Prime Lands) Next Value counter.. Fair Value Rs 20
by Anushka Perz Tue Dec 06, 2022 12:19 am

» NESTLE LANKA PLC (NEST.N0000)
by Anushka Perz Tue Dec 06, 2022 12:15 am

» What will happen tomorrow?
by ErangaDS Mon Dec 05, 2022 9:12 am

» Paris Club proposes 10-year moratorium on Sri Lanka debt, 15 years of debt restructuring
by K.R Sun Dec 04, 2022 11:27 pm

» Banking Sector Faces Tight Liquidity
by DeepFreakingValue Sat Dec 03, 2022 4:15 pm

» Sri Lanka: Exchange Rate Movement
by DeepFreakingValue Sat Dec 03, 2022 3:46 pm

» Fitch downgrades Sri Lanka’s rating further
by CHRONICLE™ Sat Dec 03, 2022 9:12 am

» Sri Lanka bond yields extend fall on DDR comments
by K.R Fri Dec 02, 2022 7:11 pm

» Sri Lanka banks may need more regulatory, accounting forbearance
by CHRONICLE™ Fri Dec 02, 2022 2:05 pm

» Banking Sector Vulnerability to Domestic Debt Restructuring
by God Father Fri Dec 02, 2022 9:29 am

» Palm Oil is going up again
by ErangaDS Thu Dec 01, 2022 3:09 pm

» The rupee was now ‘heavily undervalued’ based on fundamentals - Central Bank Governor Nandalal Weerasinghe
by K.R Thu Dec 01, 2022 8:58 am

» Shares to Sell
by Tax Wed Nov 30, 2022 5:36 pm

LISTED COMPANIES

Submit Post


ADVERTS

Poll

EXCHANGE RATE PREDICTION: 2022

Excerpts from Premier's Speech in the Parliament Vote_lcap16%Excerpts from Premier's Speech in the Parliament Vote_rcap 16% [ 43 ]
Excerpts from Premier's Speech in the Parliament Vote_lcap21%Excerpts from Premier's Speech in the Parliament Vote_rcap 21% [ 58 ]
Excerpts from Premier's Speech in the Parliament Vote_lcap30%Excerpts from Premier's Speech in the Parliament Vote_rcap 30% [ 83 ]
Excerpts from Premier's Speech in the Parliament Vote_lcap34%Excerpts from Premier's Speech in the Parliament Vote_rcap 34% [ 93 ]

Total Votes : 277

ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



EXPERT CHRONICLE™

MARKET CHAT


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

LATEST TWEETS

You are not connected. Please login or register

FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Excerpts from Premier's Speech in the Parliament

Excerpts from Premier's Speech in the Parliament

Go down  Message [Page 1 of 1]

God Father


Manager - Equity Analytics
Manager - Equity Analytics

Excerpts from Premier's Speech in the Parliament A25a1b10

🇱🇰 *Excerpts from Premier's Speech in the Parliament Today*

_Debt Restructuring Plan and Debt Sustainability Analysis to be produced to the IMF in August. Extended Fund Facility will follow after that._

🎙️ *Progress of the IMF EFF Discussions:* IMF staff-level discussions ended in a fruitful manner. Notable progress was made in June 2022. Next, Sri Lanka has to submit its debt restructuring plans and debt sustainability analysis plans to the IMF executive board. Sri Lanka's debt restructuring advisors; Lazard and Clifford Chance are currently in the process of preparing the plans. These will be submitted to the IMF in August 2022. The Premier is hopeful of reaching a staff-level agreement after that. Once the IMF executive board gives the nod, an Extended Fund Facility (EFF) will be given for four years. 

🎙️ *A Donor Summit in the next few months:* Once an IMF agreement is arrived at, a donor summit will be organized with the help of Sri Lanka's all-weather friends like India, Japan and China. 

🎙️ *GDP Growth Forecast:* The CBSL forecasts a negative 4-5% growth in 2022. The IMF forecasts a negative 6-7% growth. In 2023, GDP growth will be a negative 1%. In 2018, GDP stood at USD 94 billion, in 2022, GDP will come down to USD 76 billion (at the official exchange rate level). Sri Lanka is likely to reach the 2018 GDP level by 2026. 

🎙️ *Primary account surplus by 2025:* The government plans to achieve a primary account surplus by 2025. _Primary account surplus = Tax revenue - Recurrent government expenditure (excludes interest paid on government debt)._

🎙️ *Total external debt payable:* Sri Lanka has USD 28 billion external debt to settle. 

🎙️ *Debt to GDP:* Debt to GDP is currently at 140%. This will be brought down to 95% by 2032. 

🎙️ *Revenue to GDP:* Currently at 7.3%. The plan is to increase this to 14% by 2026. 

🎙️ *Money Printing:* Monetary financing (money printing) to be limited/ceased by 2024.

🎙️ *Inflation Expectations:* In 2022, the year-end headline inflation will be at 60%. Inflation will be brought down to 4-6% by 2025. 

🎙️ *Financial System Stability:* State banks have faced a double whammy; with the slowdown in the economy and excessive SOE debt. Financial system stability needs to be restored. 

🎙️ *Food Security:* Steps have been taken to increase the output in the upcoming Maha season. Fertilizer and other seeds etc will be provided. Provisions will be made in the interim budget. In the interim, global organizations like the World Food Programme will assist Sri Lanka. 

🎙️ *Vulnerable Groups:* Social security benefits will be given to the vulnerable groups in society. 
 
Source: Parliament of Sri Lanka
https://youtu.be/l2bHFcC8DTo

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum