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President Announces Record Rs. 1,400 Billion Budget Allocationfor Development

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President Anura Kumara Dissanayake emphasized that this year’s budget has allocated the highest capital expenditure by a government in recent history for development activities, amounting to nearly Rs. 1,400 billion. 

The President stated that it is the responsibility of both the political leadership and state officials to ensure that these funds are utilized effectively to meet the economic growth targets before the end of this year.

President Dissanayake further stated that the general public, who are not involved, have fallen victim to the choices made by the political authority and state officials, stressing that this situation must not persist.

The President made these remarks yesterday while attending the Matara District Special Coordination Committee meeting held at the auditorium of the Matara District Secretariat.

Highlighting that the government expects an economic growth rate of 5% this year, the President stated that increased state investments will contribute significantly to this growth.

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Sri Lanka’s tourist arrivals surpass 1 million in first five months of 2026

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Tourist arrivals to Sri Lanka have surpassed the one million-mark since the beginning of this year, according to the Sri Lanka Tourism Development Authority.

The SLTDA stated that a total of 1,010,807 tourists have arrived in the country from January 1 to May 28, 2026.

It further noted that 134,530 tourists arrived during the month of May so far.

Among the May arrivals, the highest number of tourists came from India, totaling 56,063. The United Kingdom ranked second with 8,582 arrivals, followed by China with 8,439 visitors.

According to cumulative arrivals for the year, India remains the leading source market with 245,981 tourists, followed by the United Kingdom with 97,427 and Russia with 75,963.

The highest monthly arrivals so far this year were recorded in February, which saw 277,327 tourist arrivals.

The report also indicates that, since February, monthly tourist arrivals have shown a gradual decline.

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Sri Lanka Dollar crisis: IMF gives key assurance ahead of review

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Sri Lanka’s reform programme continues to move forward, with the International Monetary Fund (IMF) Executive Board set to consider the combined fifth and sixth reviews under the Extended Fund Facility (EFF) next week, according to IMF Asia-Pacific Department Director Krishna Srinivasan.

In a statement shared on social media, Srinivasan said Sri Lankan authorities had made “significant progress” in restoring macroeconomic stability, rebuilding reserves, and strengthening confidence over the past few years.

He said these efforts had been recognised by the public, investors, and stakeholders, helping place the economy on a “firmer footing.”

However, Srinivasan noted that recent global developments had created renewed pressures, similar to challenges faced by many economies in a difficult external environment.

“Navigating these shocks is never straightforward, but Sri Lanka’s policy framework today is considerably stronger than in the past,” he said.

He also stressed that maintaining a consistent policy direction and allowing the economy to adjust to changing conditions would be essential to sustaining progress.

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Sri Lanka among global bright spots with improved democratic rights in 2025

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Sri Lanka has been identified as one of the countries that recorded improvements in political rights and civil liberties in 2025, according to the latest Freedom House report titled Freedom in the World 2026. South Asians & Diaspora

The report notes that Sri Lanka registered a five-point increase on the organization’s 100-point freedom scale, placing the country in the “Partly Free” category.

The improvement comes at a time when global freedom has continued to decline, marking the 20th consecutive year in which more countries experienced deterioration than progress. According to the report, 54 countries recorded declines in political rights and civil liberties in 2025, while only 35 countries showed improvements.

Sri Lanka was among the countries with the largest one-year gains in freedom scores during the year, alongside nations such as Syria, Bolivia, Gabon, Fiji, and Malawi.

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