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Services accounted for 58.2% of Sri Lanka's economy in 2019 up from 54.6% in 2010, industry 27.4% up from 26.4% a decade earlier and agriculture 7.4%. [42] Though there is a competitive export agricultural sector, technological advances have been slow to enter the protected domestic sector. [43]
The army was officially established as the Ceylon Army in 1949, though the army traces its roots back in 1881 when Ceylon Light Infantry Volunteers was created; the army was renamed as the 'Sri Lanka Army' when Sri Lanka became a republic in 1972. In 2024, the Army had approximately 150,000 personnel. [ 1][ 3]
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The 2022 Sri Lankan protests, commonly known as Aragalaya ( Sinhala: අරගලය, lit. 'The Struggle'), were a series of mass protests that began in March 2022 against the government of Sri Lanka. The government was heavily criticized for mismanaging the Sri Lankan economy, which led to a subsequent economic crisis involving severe ...
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The Central Bank of Sri Lanka raised interest rates in August 2021, and Sri Lanka became the first nation in Asia to tighten the monetary policy during the pandemic era. [20] [21] On 27 August 2021, the government extended the lockdown to 6 September 2021 as the daily death toll surpassed 200 for the first time since the pandemic began. [22] [23]
Presidential elections will be held in Sri Lanka on 21 September 2024. [ 1][ 2] Voters will elect a president for a 5-year term. Incumbent president Ranil Wickremesinghe is running for re-election as an independent candidate. [ 3][ 4][ 5] This would make him the first incumbent president to run for re-election since Mahinda Rajapaksa in 2015.