The party's over

Article Abstract:

Chandrika Kumaratunga's government in Sri lanka has sent mixed messages about the country's move toward privatization. While Pres Kumaratunga spoke for privatization in early Jan 1995, the government budget released on Feb 8, 1995, suggested that there would only be partial privatization. Investors' displeasure at this move was reflected in the downward turn of the stock market. Investors can hope to benefit from the budget's cut on import duties on specific items. Among the supporters of state ownership is Kumaratunga's mother, Sirima Bandaranaike.

Privatization, Privatization (Business)

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Praying for rain

Article Abstract:

A terrible drought that struck Sri Lanka has severely damaged the country's economy, greatly reducing major plantation crops while decreasing manufacturing output due to lack of hydroelectric power. Tea, rubber and coconut had extremely low production and nationwide power-cuts were implemented after s 20% surcharge on electricity failed to accomplish energy conservation. Furthermore, the rupee has continued to decline in relation to the US dollar and the 1992 GDP is expected to be lower than last year's figure.

Column, Droughts

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Looking up

Article Abstract:

Sri Lanka's economic prospects are looking bright. The prices of tea, Sri lanka's major cash crop, had recovered after a slump in tea production in the first half brought prices down. However, there was a decline in tea exports. Textile and garment exports, the country's top foreign-currency earner, increased by 58% for the first four months. The civil war in the northeastern part of the country takes a tremendous toll on the economy.

Economic indicators

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