Sri Lanka: Economic Crisis - Comparison of Two Governments (2016-2022)

Sri Lanka is currently facing a severe foreign exchange crisis with falling reserves, a huge price hike and a shortage of almost all essentials due to the lack of dollars to pay for the imports. 

Additionally, the diesel shortage has hit the country's power generation which has led to power cuts lasting more than four hours.

Mar. 09: The Governor of the Central Bank of Sri Lanka Ajith Nivard Cabraal at a meeting with bankers announced that the Sri Lankan Rupee was floated.

Inflation Rate (year-to-year)

Inflation Rate (year-to-year)

GDP Growth

GDP Growth

Sri Lanka Rupee against US$

Sri Lanka Rupee against US$

 Official Reserve Assets (US$mn)

 Official Reserve Assets (US$mn)

Fuel and Gas:  Price (1L/Rs.)

Diesel: price 2016-2022

Sri Lanka Diesel Price 2016-2022

Petrol: price 2016-2022

Sri Lanka Petrol Price 2016-2022

Diesel: price 2016-2022

Sri Lanka Gas Price 2016-2022

Kerosene: price 2016-2022

Sri Lanka Kerosene Price 2016-2022

 Fuel and Gas: price 2016-2022

Fuel and Gas

Current Goverment

Yahapalana Goverment

2016

2018

2020

2022

Petrol

117

125

137

254

Diesel

95

101

111

176

Kerosene

44

70

77

87

Gas

1,321

1,733

1,493

2,675

Essential Items: Price (Rs. per kg, 1L)

Balaya: price 2016-2022

Balaya Price 2016-2022 Sri Lanka

Beans: price 2016-2022

Beans Price 2016-2022 Sri Lanka

Brinjals: price 2016-2022

Brinjals Price 2016-2022 Sri Lanka

Cabbage: price 2016-2022

Cabbage Price 2016-2022 Sri Lanka

Carrot: price 2016-2022

Carrot Price 2016-2022 Sri Lanka

Coconut: price 2016-2022

Coconut Price 2016-2022 Sri Lanka

Coconut Oil: price 2016-2022

Coconut Oil Price 2016-2022 Sri Lanka

Dhal: price 2016-2022

Dhal Price 2016-2022 Sri Lanka

Eggs: price 2016-2022

Eggs Price 2016-2022 Sri Lanka

Kekulu (Red/White): price 2016-2022

Kekulu ((Red/White) Price 2016-2022 Sri Lanka

Milk Powder 400G: price 2016-2022

Milk Powder 400G Price 2016-2022 Sri Lanka

Nadu: price 2016-2022

Nadu Price 2016-2022 Sri Lanka

Onion Big (Imported): price 2016-2022

Onion Big (Imported) Price 2016-2022 Sri Lanka

Potato (Local): price 2016-2022

Potato (Local) Price 2016-2022 Sri Lanka

Rice (Samba): price 2016-2022

Rice (Samba) Price 2016-2022 Sri Lanka

Sprats: price 2016-2022

Sprats Price 2016-2022 Sri Lanka

Sugar: price 2016-2022

Sugar Price 2016-2022 Sri Lanka

Thalapath: price 2016-2022

Thalapath Price 2016-2022 Sri Lanka

Wheat Flour: price 2016-2022

Wheat Flour Price 2016-2022 Sri Lanka

Essential Items: price 2016-2022

Essential Items

Current Goverment

Yahapalana Goverment

2016

2018

2020

2022

Rice (Samba)

80

92

127

190

Dhal

169

127

180

420

Sugar

95

110

125

189

Carrot

77

69

200

260

Eggs

12

13

17

30

Kekulu (Red/White)

68

74

97

188

Potato (Local)

129

109

270

210

Coconut Oil

280

360

480

870

Beans

195

120

240

280

Sprats

490

500

850

1200

Onion Big (Imported)

85

88

180

180

Milk Powder 400G

325

337

380

790

Brinjals

79

101

160

280

Thalapath

708

720

720

1480

Nadu

82

75

107

195

Coconut

52

71

85

90

Wheat Flour

89

91

90

170

Cabbage

77

64

80

160

Balaya

380

368

560

560

Fruits: Price (Rs. per kg)

Apple: price 2016-2022

Apple Price 2016-2022 Sri Lanka

Grapes: price 2016-2022

Grapes Price 2016-2022 Sri Lanka

Orange: price 2016-2022

Apple Price 2016-2022 Sri Lanka

Papaw: price 2016-2022

Apple Price 2016-2022 Sri Lanka

Pineapple: price 2016-2022

Apple Price 2016-2022 Sri Lanka

Fruits: price 2016-2022

Fruits

Current Goverment

Yahapalana Goverment

2016

2018

2020

2022

Apple

60

65

48

180

Grapes

780

815

1100

1570

Orange

50

35

48

110

Papaw

70

165

180

180

Pineapple

160

150

180

320

 Bus Fare

Bus Fare Sri Lanka Price 2016-2022

Total expense to purchase some of the essential items in 2016

Yahapalana Government headed by President Maithripala Sirisena

 

Yahapalana Government headed by President Maithripala Sirisena

Product

Rs.

Rice (1kg)

80.00

Sugar (1kg)

95.00

Dhal (1kg)

169.00

Potato (1kg)

129.00

Big Onion(lkg)

85.00

Coconut 01

52.00

Milk pkt.(400g)

325.00

Chicken (1kg)

380.00

Coconut oil (1L)

280.00

Wheat flour(1kg)

89.00

Turmeric (1kg)

1,000.00

Bread (1)

55.00

Cas (1)

1,321.00

Petrol (1L)

117.00

Total

4,177.00

Total expense to purchase some of the essential items in 2022

Current Government headed by President Gotabaya Rajapak

Current Government headed by President Gotabaya Rajapak

Product

Rs.

Rice (1kg)

190.00

Sugar (1kg)

189.00

Dhal (1kg)

420.00

Potato (1kg)

210.00

Big Onion (1kg)

180.00

Coconut (01)

90.00

Milk pkt (400g)

790.00

Chicken (1kg)

900.00

Coconut oil (1L)

870.00

Wheat flour (1kg)

170.00

Turmeric (1kg)

4,000.00

Bread (1)

110.00

Cas (1)

2,675.00

Petrol (1L)

254.00

Total

11,048.00

 Sri Lanka: Tourist Arrivals 2016-2022

Sri Lanka: Tourist Arrivals 2016-2022

Projects suspended by Current Government

  • Malabe to Fort, Light Railway Project (LRT). The estimated value of the Project was US$ 1.85 bn. Japanese Government agreed disburse money in five tranches starting from 2020. Project was to be completed by 2025. If it was done estimated travel time from Malabe to fort was 32 minutes. Estimated ticket price Rs 100
  • Kelani Valley Railway Line Project. The estimated value of the Project was US$ 662mn. Project was planned to be completed by 2025. Estimated travel time from Homagama was 42 minutes. Saving of approximately one hour travel time.
  • AFD funded Urban Improvement Project. The scope of the Project was to improve infrastructure of Kurunegala, Dambulla, Trincomalee and Rathnapura. Project value US$ 300mn
  • Improvement of 25 secondary townships. This was to be implemented under Ministry of Local government. Project value was US$ 250mn.
  • MCC. The United States' Millennium Challenge Corporation (MCC) voted to discontinue the US$ 480mn compact agreement with Sri Lanka.
  • Pettah Multimodal Transport Centre Project
  • Meethotamulla Garbage Dump Rehabilitation Project.
  • Kandy Multi Modal Centre also slowed down.

 


Sources: Central Bank/ Department Of Census And Statistics/ News Reports

By Pethum Bandara ©DM GraphicDesk

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