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The Sri Lankan government has been successful in reducing poverty from 15.2% on 2006 to 8.9% in 2010, urban poverty was reduced from 6.7 to 5.3% while rural poverty was reduced from 15.7 to 9.5%, and the nation has made significant progress towards achieving Millennium Development Goals on eradicating extreme poverty and hunger.
In 2019 with an income per capita of 13,620 PPP Dollars [34] or 3,852 (2019) nominal US dollars, [35] [36] Sri Lanka was re-classified as a lower middle income nation with the population around 22 million (2021) [37] by the World Bank from a previous upper middle income status. [38] Sri Lanka has met the Millennium Development Goal (MDG) target ...
The Sri Lankan economic crisis [8] is an ongoing crisis in Sri Lanka that started in 2019. [9] It is the country's worst economic crisis since its independence in 1948. [9] It has led to unprecedented levels of inflation, near-depletion of foreign exchange reserves, shortages of medical supplies, and an increase in prices of basic commodities. [10]
Sri Lanka's population is aging faster than any other nation in South Asia and has the fifth highest rapidly growing population of older people in Asia after China, Thailand, South Korea and Japan. [16] [17] [18] In 2015, Sri Lanka's population aged over 60 was 13.9%, by 2030 this will increase to 21% and by 2050 this number will reach 27.4%.
Taxation by country. Taxation in Sri Lanka mainly includes excise duties, value added tax, income tax and tariffs. [1] Tax revenue is a primary constituent of the government's fiscal policy. The Government of Sri Lanka imposes taxes mainly of two types in the forms of direct taxes and indirect taxes. As of 2018 CBSL report, taxes are the most ...
Private provident funds existed in the private sector, with some companies contributing on a voluntary basis until 1958, when the Employees' Provident Fund was established by S. W. R. D. Bandaranaike following the enactment of the Employees' Provident Fund Act No 15 of 1958 which established the Employees' Provident Fund which made it compulsory for all employers and employees to contribute if ...
Central Highlands of Sri Lanka. Central Highlands of Sri Lanka is a recognised World Heritage Site in Sri Lanka. The site comprises the Peak Wilderness Protected Area, the Horton Plains National Park and the Knuckles Conservation Forest. These are rain forests, where the elevation reaches 2,500 metres (8,200 ft) above sea level.
It is one of the main sources of foreign exchange for Sri Lanka and accounts for 2% of GDP, generating roughly $700 million annually to the economy of Sri Lanka. It employs, directly or indirectly over 1 million people, and in 1995 directly employed 215,338 on tea plantations and estates. Sri Lanka is the world's fourth largest producer of tea.
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