• Release of "Economic and Social Statistics of Sri Lanka - 2020" Publication

    The “Economic and Social Statistics of Sri Lanka – 2020” an annual publication of the Central Bank of Sri Lanka, is now available for public access.

    Marking the 70th Anniversary of CBSL, this year, Statistics Department restructured the layout of the publication for ease of reference, while adding more statistics to enrich its content. Accordingly, the new version consists of statistical tables categorised under eight major areas, i.e. ‘National Accounts’, ‘Economic and Social Infrastructure’, ‘Prices, Wages and Employment’, ‘External Trade and Finance’, ‘Government Finance’, ‘Money and Capital Markets’, ‘Financial  Sector’ and statistics of other countries.

    The publication is available in both printed and web versions and will be a useful collection of information for anyone who is interested in socio-economic statistics.

  • CCPI based Inflation decreased in August 2020

    Headline inflation as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100) decreased to 4.1 per cent in August 2020 from 4.2 per cent in July 2020. This was mainly driven by the statistical effect of the high base prevailed in August 2019. Food inflation (Y-o-Y) increased to 12.3 per cent in August 2020 from 10.9 per cent in July 2020, whereas Non-food inflation (Y-o-Y) decreased to 0.8 per cent in August 2020 from 1.5 per cent in July 2020.

    The change in the CCPI measured on an annual average basis remained unchanged at 4.8 per cent in August 2020.

  • Land Valuation Indicator - First Half of 2020

    Land Valuation Indicator (LVI) of Colombo District reached 141.6 during the 1st half of 2020, recording an annual increase of 7.1 per cent. Meanwhile, on semi-annual basis the LVI marginally increased by 2.0 per cent. Both annual and semi-annual percentage changes of LVI showed a declining trend over the recent periods.

    All sub-indicators of LVI, namely Residential LVI, Commercial LVI and Industrial LVI contributed to the overall increase. Industrial LVI recorded the highest annual increase of 7.2 per cent, while both Residential LVI and Commercial LVI recorded 7.1 per cent increases.

  • Central Bank Extends the Deadline of Application for 4% Working Capital Loan Scheme until 30th September 2020

    The Monetary Board decided to extend the deadline of 4% Working Capital Loan Scheme, at its meeting held on 19th August 2020. Accordingly, COVID-19 affected businesses and individuals can submit their loan applications under the Saubagya COVID-19 renaissance facility to respective licensed banks until 30th September 2020.

    Meanwhile, the Central Bank of Sri Lanka surpassed the milestone of Rs. 100 billion loans on 18th August 2020, approving Rs.100,017 million worth of loans submitted by 36,489 applicants under the above facility. Out of approved loans, licensed banks have already disbursed more than Rs. 68.5 billion among 25,365 affected businesses and individuals island-wide as of 18th August 2020 (See Table 1 for details).

  • NCPI based Inflation decreased in July 2020

    Headline inflation as measured by the yearon- year (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100) decreased to 6.1 per cent in July 2020 from 6.3 per cent in June 2020. This was mainly driven by the statistical effect of the high base prevailed in July 2019. Meanwhile, Food inflation (Y-o-Y) decreased to 12.9 per cent in July 2020 from 13.6 per cent in June 2020, where as Non-food inflation (Y-o-Y) increased to 1.0 per cent in July 2020 from 0.8 per cent in June 2020.

    The change in the NCPI measured on an annual average basis increased to 5.9 per cent in July 2020 from 5.6 per cent in June 2020.

  • Establishment of Financial Consumer Relations Department of the Central Bank of Sri Lanka

    The Central Bank of Sri Lanka (CBSL) established a new department named “Financial Consumer Relations Department” (FCRD) with effect from 10.08.2020 to serve as the single point of contact to handle all external complaints and grievances directed to CBSL on entities regulated by CBSL under the provisions of Section 33 of the Monetary Law Act No. 58 of 1949, as amended.

  • The Central Bank of Sri Lanka continues its Accommodative Monetary Policy Stance

    The Monetary Board of the Central Bank of Sri Lanka, at its meeting held on 19 August 2020, decided to maintain the Standing Deposit Facility Rate (SDFR) and the Standing Lending Facility Rate (SLFR) of the Central Bank at their current levels of 4.50 per cent and 5.50 per cent, respectively. The Board recognised the necessity to continue the accommodative monetary policy stance, particularly as market lending rates are yet to reflect the full passthrough of policy easing measures implemented thus far. The Board decided to adopt targeted measures to reduce specific interest rates that it considered to be excessive, which would help marginal borrowers.

  • Sri Lanka Purchasing Managers’ Index - July 2020

    Purchasing Managers' Indices for both Manufacturing and Services activities continued to expand in July 2020, compared to June 2020 benefitting from the normalising of economic activities.

    Reflecting that manufacturing activities are gradually approaching the pre-COVID levels with the normalization of business activities, the Manufacturing PMI continued to expand in July 2020 recording 64.6 mainly due to the expansion in New Orders and Production sub-indices.

    Services sector continued to expand for the second consecutive month with PMI reaching 51.4 in July 2020. This was underpinned by the expansions observed in New Businesses, Business Activities and Expectations for Activity compared to June 2020 indicating a further recovery in the services sector, which was affected by COVID-19 pandemic.

  • External Sector Performance - June 2020

    Sri Lanka’s external sector stabilised further in June 2020, with the gradual normalisation of domestic economic activity. The trade deficit declined in June 2020 (year-on-year), with a more than expected rebound in merchandise exports and notable reduction in merchandise imports on account of restrictions on non essential imports. Workers’ remittances recorded a growth in June, for the first time since the outbreak of the COVID-19 pandemic. During the month, both the government securities market and the Colombo Stock Exchange (CSE) recorded some outflows. Supported by the reduction in the trade deficit, the Sri Lankan rupee recorded a marginal appreciation during June 2020.

  • CCPI based Inflation increased in July 2020

    Headline inflation as measured by the year-on-year (Y-o-Y) change in the Colombo Consumer Price Index (CCPI, 2013=100) increased to 4.2 per cent in July 2020 from 3.9 per cent in June 2020. This was mainly driven by monthly increase of prices of items in Non-food category along with the statistical effect of the low base prevailed in July 2019. Food inflation (Y-o-Y) increased to 10.9 per cent in July 2020 from 10.0 per cent in June 2020. Further, Non-food inflation  (Y-o-Y) also increased marginally to 1.5 per cent in July 2020 from 1.4 per cent in June 2020.

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