Sri Lanka and it's Economy

Status-Quo of Sri Lanka

Sri Lanka, is a Island nation that is situated right under the largely populated nation of India. Sri Lanka which started off a country that once was filled by the influence of the Indians grew to become a sole and independent nations of it's own. 

The nation of Sri Lanka parallelly to India became widely known for it's spices and tea plantations, currently the most commonly known source of income is it's tourism.

The Island is filled with a lot of greenery around it also supporting the growing urbanisation happening at the heart of the country in Colombo. 

Sri Lanka despite it being known as a low economy Island, for the locals it looks as a slowly developing nation. The government of Sri Lanka closely worked with the government of China, now they have decided to build an artificial Island that touches along the largest beach in Colombo known as 'Galle Face'. 

This Artificial Island, started construction at the year 2019 and is planned to be fully constructed in the year 2041. This Artificial Island's name is Port City.

What is Wrong with Sri Lanka now?

Sri Lanka one of the many nations that subdued to the Corona Virus at the end of year 2019, since then the economy of Sri Lanka has been plummeting down steadily. 

Over the past few days large oil bearing countries Russia and Ukraine, have been at a state of war. Russia which had started the war has taken over most of Ukraine, many people have lost lives. This not only affects Ukraine, but also the other countries that are oil dependent such as Sri Lanka. 

Sri Lanka is currently growing through a heavy economy crisis, with people fleeing illegally to India escaping from the poverty of the nation. The current economy crisis that is currently going out about in Sri Lanka was started due to the lack of resources in the country. From Petrol to Flour all prices have increased making it hard for the people residing in the nation to survive. Covid-19 also had earlier heavily affected the Island due to the lack of tourists visiting the nation because of travel restrictions. 

There have been riots that have been taking place, people cannot afford to lose money, they have started to spend very little in daily expenses. Recently two 70 year olds succumbed to death whilst standing for gas. The main reasons for these riots is to get rid of the corrupt government that is currently ruling over the SLPP. 

What is to be expected in the days to come?

Due to the current economic crisis, and the upcoming Tamil/Sinhala New Year, people are predicting there could be a major shortage from Petrol to Food. People have started bulk buying produces and storing them, in order to survive in these crucial dates the 13th/14th of April 2022. 

People are not sure how the nation might run after these dates. This year has resulted Sri Lanka in the largest economic crisis in it's history.