Sri Lanka’s external sector demonstrated a modest performance in May 2018. The deficit in the trade account continued to expand at a comparatively slower rate in May 2018, as export growth outpaced import growth.
Tourist earnings continued to increase while workers’ remittances declined during the month. Inflows to the financial account of the balance of payments (BOP) moderated with net outflows from the government securities market and a reduction in net inflows to the Colombo Stock Exchange (CSE). The country’s level of gross official reserves at the end May 2018, stood at US dollars 8.8 billion.
Meanwhile, reflecting the developments in the domestic and global foreign exchange markets, the Sri Lankan rupee depreciated by 3.3 per cent against the US dollar by end May 2018 and by 4.5 per cent so far during the year up to 20 July 2018. Earnings from merchandise exports increased to US dollars 924 million in May 2018 mainly driven by industrial exports, despite a reduction recorded in agricultural exports.
Sri Lanka's first Agriculture Entrepreneurship Model Village was inaugurated yesterday at Kahattewela, Haputale under the patronage of the Minister of Agriculture Mahinda Amaraweera. The model village was established under the government's Grama Shakthi People's Movement which has been implemented to empower the people in rural areas and improve their living conditions
President Maithripala Sirisena observed the restoration activities of the Gini Petti Palama on D1 North Canal of Parakrama Samudra. ‘Gini Petti’ Bridge, built in the beginning of the Govi Janapada agriculture settlement program, was built allowing water flow of the North canal which carries water to 20,000 acres of paddy fields. Dilapidation of this bridge has cause many difficulties to the paddy farmers in the area.
A critically ill fisherman was brought ashore for treatment by the Sri Lanka Navy, on Friday (20TH). According to Navy media, the Indian Coast Guard Ship Sarang had assisted the SLN to bring ashore the sick fisherman to Trincomalee for treatment.
The second phase of the 1990 Suwa Seriya, Pre-Hospital Care Ambulance Service, was launched in Jaffna yesterday expanding it throughout the island. The launching ceremony was held at Jaffna Municipal Grounds under the patronage of Prime Minister Ranil Wickremesinghe, where Indian Prime Minister Narendra Sri Modi addressed the gathering through Live Video Link Technology.
Measures have been taken to recruit 250 graduates to the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) as investigative officers.Up to now police officers have been deployed as investigative officers and last year around 200 police officers have been attached to the Commission to conduct investigations.
The Ministry of Power and Renewable Energy says that sporadic power outages will be experienced in parts of Colombo from July 25 to 31 due to urgent repairs to be carried out to a 132KW system in the city.
The Joint Combined Exchange Training (JCET) exercise, between US Naval Special Warfare Forces personnel and Sri Lanka naval personnel from the 4th Fast Attack Flotilla (4FAF) and Special Boat Squadron (SBS) was ceremonially inaugurated at the Special Boat Squadron Training School (SBSTS) in Trincomalee.
Sri Lanka Army troops in the Northern peninsula have embarked on a programme to plant coconut trees in the region as a part of their green drive project. Accordingly, troops under the Security Force Headquarters - Jaffna (SFHQ-J) planted 200 coconut seedlings along the beach stretch in Mailaddy in Jaffna, on Wednesday (18). The effort was carried out with the cooperation of officials of the Coastal Conservation Department, Jaffna District Secretariat and Department of Agriculture in the Northern Province.
India and Sri Lanka signed a Memorandum of Understanding (MoU) today on a sanitation sector project under which 3400 toilets would be constructed in Batticaloa District of Sri Lanka.The MoU was signed by . Taranjit Singh Sandhu, High Commissioner of India to Sri Lanka and Mrs. Renuka Ekanayake, Secretary, Secretary, Ministry of Fisheries & Aquatic Resources Development and Rural Economy, with the participation of M.S.S. Ameer Ali, Deputy Minister of Fisheries & Aquatic Resources Development and Rural Economy and senior officials of Government of Sri Lanka.