Prospect of Economic development - Post Covid-19 Sri Lanka
S ince the President Gotabaya was elected he and his administration took ever greater measures to stimulate stagnating economy, cutting down taxes and increasing VAT threshold to encourage investments. He welcomed all developed nations to invest in Sri Lanka instead of finger pointing at the biggest investors. However, prevailing world reality of this unprecedented Covid-19 pandemic projects the development of our economy in a blur horizon at its worst, and as an uphill struggle at its best. Chart 1 - Ratio of world merchandise trade growth to world GDP growth, 1990‑2020 % change and ratio Source: WTO Secretariat for trade and consensus estimates for historical GDP. Projections for GDP based on scenarios simulated with WTO Global Trade Model. T he idea of being self-sufficient is up in the agen...