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IPS to release Annual Flagship publication

The Institute of Policy Studies of Sri Lanka (IPS) will release its Annual Flagship publication ‘Sri Lanka: The State of the Economy 2009’ soon.

The “Sri Lanka: State of the Economy 2009” is an annual publication of the Institute of Policy Studies of Sri Lanka (IPS) devoted to a rigorous analysis of Sri Lanka’s economic outlook and emerging key areas of policy concern. The 2009 report focuses on the “Global Economic Crisis: Issues, Impacts and Outlook”.

It examines the path of the current global economic crisis, the impacts that have been visible in Sri Lanka, and discusses policy concerns that need to be addressed to mitigate downside effects.

In 2009, world output is estimated to contract for the first time in 60 years, with growth in global export volumes forecast to plummet by 10 percent after 30 years of uninterrupted growth.

Sri Lanka too has not been immune to the unfolding crisis.

A sharp drop in earnings of key export sectors has been the most obvious downside effect.

On the other hand, a marked reduction in international oil prices, and reduced demand for imports in general, helped the country to avert a looming foreign exchange crisis in the latter part of 2008 and into the first quarter of 2009.

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