WHAT ARE SRILANKA'S MAJOR ECONOMIC ISSUES




                       WHAT ARE SRILANKA'S MAJOR ECONOMIC ISSUES


The Sri Lankan economy has been experiencing one of its worst economic crises in history, owing to mismanaged government finances and ill-timed tax cuts, in addition to the impact of the Covid-19 pandemic.

This paper examines six critical economic issues that have contributed to the Sri Lankan crisis: the impact of the 2019 tax cuts on the domestic economy; successive BOP crises; a series of botched IMF bailouts; the sudden disastrous switch to organic farming; and the tourism sector's demise following the 2019 Easter holiday.

Sri Lanka received a 37 on a scale of 0 ("highly corrupt") to 100 in Transparency International's 2021 Corruption Perception Index ("highly clean"). Sri Lanka ranks #102 out of 180 countries in the Index in terms of score, with the country ranked #1 having the most honest public sector.

Sri Lanka's economic freedom score is 53.3, ranking it 132nd in the 2022 Index. Sri Lanka is ranked 28th out of 39 Asia-Pacific countries, and its overall score is lower than the regional and global averages.


                                                                                                                         By 
                                                                                                                       M Kiran Mahi
                                                                                                                         30-075

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