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The Sri Lankan economic crisis [8] is an ongoing crisis in Sri Lanka that started in 2019. [9] It is the country's worst economic crisis since its independence in 1948. [9] It has led to unprecedented levels of inflation, near-depletion of foreign exchange reserves, shortages of medical supplies, and an increase in prices of basic commodities. [10]
Arrack is a distilled alcoholic drink typically produced in Sri Lanka and Southeast Asia, made from the fermented sap of coconut flowers or sugarcane, and also with grain (e.g. red rice) or fruit depending upon the country of origin. It is sometimes spelled arak, [ 1] or simply referred to as 'rack or 'rak. [ 2]
Services accounted for 58.2% of Sri Lanka's economy in 2019 up from 54.6% in 2010, industry 27.4% up from 26.4% a decade earlier and agriculture 7.4%. [42] Though there is a competitive export agricultural sector, technological advances have been slow to enter the protected domestic sector. [43]
On January 4, 2021, total market capitalisation crossed three trillion rupees mark for the first time. [2] Hayleys announced a stock split on January 21 of 2021 and it resulted in increasing market capitalization by over 100 billion rupees. All share price index surpassed 8000 points for the first as a result. [3]
The Daily News is an English-language newspaper in Sri Lanka. It is now published by the Associated Newspapers of Ceylon Limited (Lake House), a government-owned corporation . The newspaper commenced publishing on 3 January 1918. [ 1 ]
The International Monetary Fund executive board approved the release of the second tranche of a $2.9 billion dollar bailout package to help Sri Lanka recover from the worst economic crisis in its ...
Sri Lanka is the world's fourth-largest producer of tea. In 1995, it was the world's leading exporter of tea (rather than producer), with 23% of the total world export, and Sri Lanka ranked second on tea export earnings in 2020 [2] after China. The highest production of 340 million kg was recorded in 2013, while the production in 2014 was ...
It is one of the main sources of foreign exchange for Sri Lanka and accounts for 2% of GDP, generating roughly $700 million annually to the economy of Sri Lanka. It employs, directly or indirectly over 1 million people, and in 1995 directly employed 215,338 on tea plantations and estates. Sri Lanka is the world's fourth largest producer of tea.