The economy’s weak competitiveness is an issue to address. Restrictive trade policies over the past decade have created a strong anti-export bias, which has been reflected in a dramatic decline in trade. While growth in Sri Lanka has been strong over the past few years, it has been inward-oriented and based on the growth of non-trade-able sectors. Sri Lanka also attracts a much lower volume of FDI than peer economies and the shortcomings of the investment climate pose obstacles for new firms.
Moreover, significantly high state participation in the economy has implications on competitiveness in a number of sectors and labour market dynamics. Low revenues as a share of GDP has been a structural issue that adversely impacts fiscal position. The major causes are the low number of number of tax payers (less than 7 percent of the labour force and formal establishments pay income tax), reductions in statutory rates without commensurate efforts to expand the tax base, inefficiencies in administration and numerous exemptions. Low revenues combined with largely non-discretionary expenditure in salary bill, transfers, and interest payments has constrained critical development spending and squeezed expenditure on health, education and social protection, which is low compared to peers.
Medical Relief International Projects since 2015
Water & Sanitation To Help Combat Disease
Duel Water Tube Wells For Clean Drinking Water
Water Tap Connections For Families In Rural Mountainous Regions
Construction of Semi-Permanent Houses
Construction of Permanent Latrines
Ramadan Food Packs For Orphan, Widow and Poor Families
Iftaar Food Distribution Through Local Organisations & Centres
Qurbani Box Donations To Families During Eid Al Adha
Livelihoods & Self Sustainable Projects:
Canoe Boats Built And Donated To Fishermen To Help Create And Boost The Local Economy
School Books, Stationery And Uniforms Donated To Local School Children