News
More than a quarter of Lankans living in poverty – World Bank
The World Bank has found that more than a quarter of Sri Lanka’s population is living in poverty,according to its latest publication.
Titled ‘World Bank Update: Bridges to Recovery’ released last week (April 2) shows that poverty has increased over the past four years—from 11 percent in 2019 to almost 26 percent in 2024 in Sri Lanka. The report briefly discusses how the unprecedented economic crisis that engulfed the country in 2022 has impacted the masses.
It however, insists that the savage austerity program dictated by the International Monetary Fund (IMF) and being implemented by the Wickremesinghe government is necessary to achieve “economic recovery.”
The World Bank report notes: “Households have been impoverished by a fall in their purchasing power due to high inflation, losses in wages, income and employment, and a drop in remittances.”
Approximately 60 percent of Sri Lankan households, it states, have decreased incomes, with many facing increased food insecurity, malnutrition and stunted growth. The persistence of this wide-scale social devastation and misery, however, is a direct result of the IMF’s brutal social attacks.
The report indicates that labour market trends in Sri Lanka have been affected by widespread closures of micro-, small- and medium-enterprises. In the third quarter of 2023, the labour force participation rate in the urban sector dropped to 45.2 percent, down from 52.3 percent in 2019. Youth unemployment, especially young adults (aged from 25–29), rose to 17.7 percent between the second and third quarters of 2023.
According to the report: “The implementation of new revenue measures increased estimated revenue as a share of GDP [Gross Domestic Product] from 8.4 percent in 2022 to 11 percent in 2023.”
As the World Bank report states: “17.5 percent of households indicated that they limited their education expenses (including on stationery and uniforms) to deal with rising costs, and most households have changed their health treatment procedures since March 2022 due to a lack of funds.”
While Sri Lanka recorded a minus 7.3 percent GDP growth rate in 2022, the World Bank said this had been reduced to minus 2.3 percent in 2023 and claimed this was “expected to turn positive” in 2024. The “improvement,” however, still means that there will be no real growth this year.
On April 2, World Bank Country Director for the Maldives, Nepal and Sri Lanka Faris Hadad-Zervos declared that the Sri Lankan economy “is on the road to recovery.” At the same time, however, he claimed that “sustained efforts to mitigate the impact of the economic crisis on the poor and vulnerable” required the government to maintain its social attacks on the working masses.
A two-pronged strategy to “maintain reforms that contribute to macroeconomic stability” and “accelerate reforms to stimulate private investment and capital inflows,” he said, must be continued. These so-called “economic reforms” mean an ever greater assault on the social position of working people.
News
Cabinet nod to increase the number of new automated passenger clearance gates at the Bandaranayake International Airport to 12
Approval of the Cabinet of Ministers was granted at their meeting held on 19.05.2025 to purchase four (04) automated passenger clearance gates for Bandaranayake International Airport.
In addition, it is expected to extend the automated passenger clearance gates facility so far given only to the Sri Lankans
parallel to the e – passport issuance system to be introduced in the year 2027 also to the foreigners who travel to and from this country.
Furthermore, considering also the number of air passengers rapidly increasing with the fast – forwarding business and tourism field, the appropriateness to increase the total automated passenger clearance gates up to twelve (12) in number has been recognized.
Accordingly, the Cabinet of Ministers, approved the resolution furnished by the Minister of Public Security and Parliamentary Affairs to initiate the procurement and installation of 12
automated passenger clearance gates altogether with the already approved four (04) and another eight (08) automated passenger clearance gates adhering to the formal procurement procedure
Based on the observations submitted by the Task Force on Prevention of Money Laundering and Financing for Terrorism, approval of the Cabinet of Ministers was granted at their meeting held on 18.12.2024 to amend the Trust Ordinance No. 9 of 1917 including amendments proposed by the Financial
Intelligence Unit of the Central Bank of Sri Lanka.
Accordingly, clearance of the Attorney General has been granted for the Trust (Amendment) Draft Bill formulated by the Legal Draftsman.
Therefore, the Cabinet of Ministers approved the resolution furnished by the Minister of Justice and National Integration
to publish the said draft bill in the government gazette notification and thereby, submit the same to the Parliament for its concurrence.
Action was taken to provide a fuel relief for the fuel consumers during the months of April, May and June of 2026 to redress by minimizing the impact caused to the day today life of the citizens of this country as well as the entire economy due to the price hike of petroleum fuel in the global market resulting from the war situation in the Middle East.
Government mediation is essential for minimizing the impact on the day to today life of citizens in this country due to that war situation not being ended further. Therefore, it has been planned to redress on the sale price for Auto Diesel and Industrial Diesel for a period of 03 months by the Government to provide relief to the public as well as to maintain the prices at a bearable level to the consumers without escalating the fuel prices in this country compared to the escalation of fuel prices
in the international market.
Therefore, the Cabinet of Ministers granted approval for the resolution furnished by the President in his capacity as the Minister of Finance, Planning and Economic Development to
allocate provisions subject to the monthly limitations respectively as rupees 15 billion for the month of October, rupees 13.5 billion for the month of November and rupees 12.15 billion for the month of December to provide the said relief
Cabinet nod to increase the number of new automated passenger clearance gates at the Bandaranayake International Airport to 12
Draft Bill for amending the Trust Ordinance
Implementing further relief programme to Public sffected by the Middle East conflict situation
Establishment of a Spectrum Management and Monitoring System and a Quality of Service and Quality of Experience System for the Telecommunications Regulatory Commission of Sri Lanka
Appointment of a Committee for the Restitution of Sri Lankan Cultural Heritage Held Abroad
Ten-Year National Action Plan on the Social Protection Sector (2026–2035)
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