Protecting Sri Lankan MSMEs during pandemic: Need for innovative solutions
Click here to read full article from source
Sri Lanka, Sept. 15 -- The micro, small, and medium enterprise (MSME) sector in Sri Lanka accounts for 90 percent of all businesses in the country, provides 45 percent of employment, and contributes 52 percent to the nation's GDP.
Successive Sri Lankan governments have, thus, correctly identified the importance of MSMEs as one of the main drivers of growth and development. However, while this sector makes up the backbone of the Sri Lankan economy, it continues to be one of the most vulnerable to local and global economic disruptions.
The COVID-19 pandemic has intensified the traditional vulnerabilities amongst MSMEs, such as low levels of savings, assets, and inventories, consequently creating a unique set of associated policy challenge...
To read the full article or to get the complete feed from this publication, please Contact Us