In a recent statement, the Central Bank of Sri Lanka revealed significant financial improvements for the first half of this year. Earnings from the tourism sector have reached $1,557 million, nearly double the growth compared to the same period last year. Additionally, the service sector, excluding tourism, reported receipts of $1,762 million.
Remittances from foreign employees have also shown a notable increase, climbing to $3,144 million from $2,823 million in the previous year. By the end of June, the country’s gross official reserves have grown to $5.7 billion. The Central Bank further highlighted that the Sri Lankan rupee has been overvalued against the US dollar through June.