Economy at breaking point, job losses feared By Duruthu Edirimuni Chandrasekera View(s): View(s):Sri Lankan corporates have seen an over 50 per cent to 70 per cent drop in their total potential output over the past two months owing to the worst political and socio economic crisis the country has witnessed since independence. This is after the authorities failed to resuscitate the economy that went through a gruelling pandemic and failed economic policies. The lack of raw material imports and shortage of electricity and the failure to run generators are killing these businesses. Amid this unmanageable situation, Dr. P. Nandalal Weerasinghe was appointed Central Bank (CB) Governor who stepped down in October 2020 as deputy governor. The new CB governor has an enormous task and both these gentlemen have done a big service by the nation by accepting these two positions at this critical time.

Source: Sunday Times April 10, 2022 00:47 UTC