Analyzing the Impact of COVID-19 on Sri Lankan Economy

Abstract

The most recently found Corona virus causes COVID 19, a communicable disease. COVID 19 was affected for more than 200 countries in the world. All of the affected countries have been looking for a safety precaution, and a few countries are investigating a specific Corona virus vaccination, but the situation has already spiraled out of control due to a lack of awareness and management. More than six months into the pandemic, Sri Lanka has made significant progress in controlling the spread of COVID 19; yet, the threat remains. This study examines that how the COVID 19 impact to Sri Lankan economy and discussed some economic aspects such as GDP, employment, inflation, exchange rate, house hold income etc. and how COVID 19 affected to those aspects. This study is based on secondary data which are already published data. Mainly gathered data from research articles, annual reports of CBSL. The COVID 19 epidemic has had a number of negative consequences for major revenue industries. Due to COVID 19 other countries economies also slowdown. That also highly impacted to Sri Lankan economy. Sri Lankan import expenditure increased and export income has come down. These scenarios descriptively analyzed by following chapters and presented some recommendations to rebuild the economy.