Gradient Alliance News Bulletin January 2016
The only source for a roundup of key Sri Lankan News.
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Gradient Alliance News Bulletin – January 2016
In Economic news:
• Budget deficit reaches 7.2% in 2015 on high “contractual payments”.
• 2016 budget revisions continue, VAT/NBT latest casualty.
• Sri Lanka looks to IMF to shore up reserves..
• Sri Lanka joins China led AIIB.
• USD 5-6bn FDI targeted; 2015 inflows fall to USD 700-800m.
• Private sector credit continues to grow in November.
• Sri Lanka slightly improves to 83rd in the Corruption Index.
• Inflation rises 4.2% YoY in December. CCPI at 0.9% in January.
• Rupee in January at 142.06/146.1 vs. USD (down 0.01% MoM).
• Stock market closes at 6,340.10 in January (-8.0% MoM).
In Business news:
• Tourist arrivals at a record 1.7m in 2015, up 17.8%; Fox News includes Sri Lanka as “one of the top under the radar destinations”.
• Vehicle regs. up 54.4% YoY in 2015, reaches an all-time high 660,200 regs.
• Tea production in 2015 at a three year low.
• Trade deficit in November 2015 contracts to USD 629,9m (-13.2% YoY).
• LMD-Nielsen business sentiment index rise to 152 (+5 pts MoM).
In Consumer news:
• Nielsen consumer confidence index falls to 75 (-9 pts MoM).
• Bread prices up.
• Rs.100 on per kg of canned fish reimposed.
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