The national carrier of Sri Lanka is poised for a major shift in strategy, ranging from privatisation to network restructuring, in a bid to achieve sustained profitability.
Sri Lanka
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Economic update | Sri Lanka Year in Review 2015
16 Dec 2015
In the wake of general elections earlier this year, Sri Lanka has emerged with a renewed emphasis on economic reforms and fiscal consolidation, which has allayed concerns for many local and foreign investors.
With an eye on the target of reaching $8.5bn worth of clothing exports per annum by 2020, Sri Lanka’s apparel manufacturers are backing a national bid to regain preferential trade concessions from the EU.
A $1bn revenue target is spearheading Sri Lanka’s efforts to solidify its place as a key source market for gemstones and jewellery, although flat global sales of luxury goods, coupled with labour shortages, risk hindering the country’s efforts.
Supply is set to overtake demand at the high end of Sri Lanka’s residential property market, with a series of large-scale projects under way in and around Colombo.
The coming year looks set to bring further consolidation to Sri Lanka’s financial sector, with market forces expected to drive the trend, in lieu of the government-led policy of the previous administration.