We don't feel that there is a worldwide economic downturn in the day-to-day life in Sri Lanka. Due to the recent fuel price hike, public transportation rates are about to go up, and the rates for petty transportation services like the three-wheelers have already increased. Apart from that the banks and other financial institutions are stable. They issue business, housing and personal loans to the public. Rice, vegetable and fish prices too are quite stable even during this Christmas season, because they are amply produced locally.
Recently LKR was downgraded by 3% compared to the US$ as a budget proposal. Prices of imported items are expected to increase therefore. After the war victory, over 750,000 tourists have come to Sri Lanka so far (highest record ever), and we expect it to be 800,000 next year. I think they might have brought in a lot of money. Government is promoting development of the hospitality sector very much. We've got a new harbour built and completed, and a new international airport is under construction. A 10% salary increase was given to all government servants by the recent budget. A lot of corporate sector vacancies are being posted in the weekend newspapers.
by David Branagan 23 months ago
Can you associate an economic downturn with anything positive?Ireland had one of the worst economic disasters in history. Major unemployment, mass emigration, home repossession. One possitive thing was that it allowed parents more time to stay at home with their family and stimulated creativity,...
by dwreamy 7 years ago
How do you view fashion in this economic downturn?It fashion a necessity, should retailers attempt to slow down the fashion cycle so that "being in fashion" has a longer life.
by cindi h 7 years ago
How are you dealing with the economic downturn?
by iwriteforyou 6 years ago
How have you, your family or friends been affected by the economic downturn ?The news focuses on banker bonuses, export volumes and fiscal metrics but what is the impact on normal people and families ?. The lack of 'real stories' make many people think the recession has only hit their household so...
by tiginban 9 years ago
Hi,Just wondering if anyone's been reflecting on any positive aspects of the economic downturn. Seems like sometimes we're so crippled with fear, we forget to notice if anything good's happening. Here's 3 from me1. Though my husband does not have an income at present, we've found we've had to be...
by Sherry Hewins 6 years ago
Have you lost your home, your business or your job. How are you coping?
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