Economy

IRD records highest tax revenue in its history

Published

5 months ago

November 21, 2025

The Inland Revenue Department (IRD) has announced that it has achieved the highest tax revenue collection in its history, reaching Rs. 2,002,241 million as of November.

According to an official statement issued on November 18, the revenue collected so far in 2025 marks an increase of Rs. 60,079 million compared to the total revenue recorded in 2024, which stood at Rs. 1,942,162 million.

The IRD stated that surpassing the Rs. 2 trillion mark within the first eleven months of 2025 reflects a significant contribution toward strengthening the government’s financial position.

Commissioner General of Inland Revenue, Rukdevi P. H. Fernando, expressed her appreciation to taxpayers for fulfilling their obligations in accordance with tax laws, noting that their cooperation has supported national progress and public welfare. She also extended gratitude to officials of both state and private institutions for their dedication and support in achieving this milestone.

Economy

Sri Lanka literacy hits record 97.4%, gender gap closes for first time

Published

3 hours ago

April 12, 2026

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Sri Lanka has achieved a historic education milestone, with literacy rising to 97.4% in 2024, up from 95.7% in 2012.

For the first time since 1881, the literacy gender gap has closed, with males at 97.9% and females at 97.0%.

Digital literacy has reached 67.6%, while computer literacy stands at 34.7%, highlighting Sri Lanka’s growing digital transformation.

Economy

$ 900 m in four months: Port City Colombo signals new investment era

Published

1 day ago

April 11, 2026

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From November 2025 to March, Port City Colombo secured approximately $ 900 million in investments, an almost unprecedented surge for a project that had seen gradual traction in its early years amid broader macroeconomic challenges. The timing is not accidental.

After a prolonged period marked by the Easter Sunday attacks, the global shock of the COVID-19 pandemic, and Sri Lanka’s economic collapse, the project remained largely in a holding pattern.

International marketing efforts began to gain momentum from late 2025 onwards, as conditions began to stabilise.

“The macro story had to align first,” Aluwihare explained. “You cannot market a country when the fundamentals are unstable. Now, we are seeing recovery, policy alignment, and growing confidence, and we are finally seeing the results.”

From real estate to a ring-fenced financial ecosystem

Port City Colombo’s most significant transformation has been conceptual rather than physical. Originally envisioned as a waterfront real estate development, it has evolved into a fully ring-fenced services export Special Economic Zone (SEZ), enabled by the Colombo Port City Economic Commission Act.

Economy

Sri Lanka’s Official Reserves fall 3.5%in March – CBSL

Published

3 days ago

April 9, 2026

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Sri Lanka’s Official Reserve Assets have decreased by 3.5% to USD 7,019 million in March 2026, according to the latest data of the Central Bank of Sri Lanka.

The CBSL states that the decrease is from USD 7,270 million reported in February 2026.

The CBSL further states that the figure for March includes the swap arrangement with the People’s Bank of China.