News
IMF Senior Mission Chief upbeat about Lanka’s prospects under their programme
International Monetary Fund Senior Mission Chief for Sri Lanka, Peter Breuer, has commended Sri Lanka’s economic recovery in recent years, stating that as economic opportunities return to Sri Lanka, income will increase and poverty decrease, making it more attractive for the people to remain in Sri Lanka.
Speaking at a press conference on the IMF Executive Board’s completion of the third review of Sri Lanka’s Extended Fund Facility (EFF) programme, the IMF Senior Mission Chief stated that Sri Lanka’s reserves have increased significantly so far under the EFF programme.
“They have reached about half of the programme objectives already which is very impressive”, Breuer said.
He said: “I think it’s quite clear that things really have turned around significantly in Sri Lanka. When I first got to Sri Lanka in June 2022 everybody was on a line somewhere to get fuel, to get cooking gas, get food or medication. Economic activity was very subdued. I think in real terms Sri Lanka lost around 10% of its economic activity as a result of this crisis.”
“Since then in the short amount of time that the programme has been there, basically since 2023, it has already recovered 40% of the income it lost in the preceding five years. In a short amount of time Sri Lanka already had a very significant recovery – the most recent growth number was 5.5%. So I think things are turning around significantly in Sri Lanka and that will have an impact on the indicators that we care about, such as poverty.”
“As economic opportunities return to Sri Lanka, income will be increased and poverty will be reduced. Also, it will be more attractive to remain in Sri Lanka, not leave or emigrate. Those who have emigrated will find opportunities back in Sri Lanka”, Breuer said.
The Cabinet of Ministers granted approval to the proposal submitted by the Prime Minister to recruit 2,284 to the government service as per the recommendations of the ‘Committee appointed to review the recruitment process of the Government Service at its meeting held on 14.11.2025.
1. Ministry of Education, Higher Education and Vocational Education 196
2. Ministry of Health and Mass Media 480
3. Ministry of Public Administration, Provincial Councils and
Local Governments 04
4. Ministry of Finance, Policy Planning and Economic
Development 19
5. Ministry of Transport, Highways and Urban Development 778
6. Ministry of Justice and National Integration 222
7. Ministry of Trade, Commerce, Food Security and Cooperative Development 107
8. Ministry of Defense 73
9. Ministry of Fisheries, Aquatic and Ocean Resources 20
10. Ministry of Public Security and Parliamentary Affairs 21
11. Ministry of Industries and Entrepreneurship Development 36
12. Ministry of Buddha Shasana, Religious and Cultural Affairs
04
13. Ministry of Plantation and Community Infrastructure
Facilities 02
14. Ministry of Agriculture, Livestock, Lands and Irrigation 74
15. Western Provincial Council 230
16. Uva Provincial Council 08
17. North Western Provincial Council 08
18. Finance Commission 02
Latest News
Cabinet green light to obtain a grant from the Asia Pacific Disaster Response Fund for post – disaster relief and rehabilitation activities
On a request made by the government of Sri Lanka, the Asian Development Bank has given its concurrence to provide a grant of United States dollars 3 million under Asia Pacific Disaster Response Fund.
It is expected to supply materials required for providing essential life security services for the communities affected, from the said grant.
Therefore, the Cabinet of Ministers granted approval to the proposal submitted by the President as the Minister of Finance, Plan Implementation and Economic Development to enter into the relevant agreements with the Asian Development Bank to obtain the said grant.
Business
Cabinet approves establishment of two 50 MW wind power stations in Mullikulum, Mannar region
Adhering to the broad plan of the Government to reach the objective of accomplishing 70% of the country’s electricity supply from renewable energy sources by the year 2030, the approval of the Cabinet of Ministers was granted on 10.02.2025 to invite requests for resolutions from interested developers of the private sector in order to implement the Mullikulum Wind Power – 100 Mega Watts (two (02) wind power stations of
50 Mega Watts each) on the basis of construction, ownership and execution with a monitoring period of 20 years.
Accordingly, requests for proposals have been called to implement the relevant project by adhering to the international competitive bidding methodology, and seven (7) prospective project proposals were submitted.
Evaluating the said proposals, based on the recommendations submitted by the negotiation committee appointed by the Cabinet of Ministers, the Cabinet of Ministers granted approval to the resolution furnished by the Minister of Power to award the contracts of establishing the two (02) 50 Mega Watts Wind
Power Stations to Consortium of Vidullanka PLC & David Pieris Motor Company (Lanka) Limited and WindForce PLC.
Cabinet approves recruitment of 2,284 to government service
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Cabinet approves establishment of two 50 MW wind power stations in Mullikulum, Mannar region
Cabinet approves the purchase of vehicles to improve the primary health care system across the island
Cabinet approves the transfer of the constructions and land reserved for the Kiinniya University to the Ministry of Foreign Affairs, Foreign Employment, and Tourism
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