The Economic Monitoring Committee, established on a proposal by President Anura Kumara Dissanayake to safeguard Sri Lanka’s economic stability and protect the welfare of citizens amid external pressures, met yesterday (10) afternoon at the Presidential Secretariat.
The committee is chaired by Deputy Minister of Finance and Planning and Minister of Labour Dr. Anil Jayantha Fernando. Senior Additional Secretary to the President (Finance and Economic Affairs) Russell Aponsu serves as the Secretary and Convener of the committee.
Members of the committee include Central Bank Governor Dr. P. Nandalal Weerasinghe; Secretary to the Treasury and Secretary to the Ministry of Finance, Planning and Economic Development Dr. Harshana Suriyapperuma; Senior Presidential Adviser on the Digital Economy Hans Wijesuriya; Senior Economic Adviser to the President Duminda Hulangamuwa; Secretary to the Ministry of Industry and Entrepreneurship Development Thilaka Jayasundara; Chairman of the Ceylon Petroleum Corporation D.J.A.S. de S. Rajakaruna; Chairman of Litro Gas Lanka Limited Channa Gunawardena; Chairman of the Sri Lanka Ports Authority Dr. Parakrama Dissanayake; Chairman of the Sri Lanka Export Development Board Mangala Wijesinghe; Special Presidential Representative on Foreign Investment Hanif Yusoof; Chairman of the Sri Lanka Tea Board R.K. Obeysekara; Chairman of the Sri Lanka Tourism Development Authority Buddhika Hewawasam; and the Additional Secretary (Economic Affairs) of the Ministry of Foreign Employment and Tourism.
During the meeting, attention was focused on the potential adverse impacts on Sri Lanka’s economy arising from the ongoing conflict in the Middle East, which has created uncertainty in the global economic environment.
Discussions also centred on urgent measures required to stabilise markets and safeguard the interests of citizens in response to these emerging challenges.
As a small open economy, Sri Lanka remains highly dependent on fuel imports, remittances from migrant workers employed in the Middle East, as well as trade and investment links with the region.
Accordingly, the committee held extensive discussions on the risks posed by external economic shocks and the policy measures that must be continuously monitored and implemented to mitigate these risks.
