Sri Lanka, June 30 -- Prime Minister Ranil Wickremesinghe will present an Interim Budget at the end of July offering over Rs. 200 billion as incentives to low- income families as well as the Small and Medium sector.

The Census Department announced that the Year-on-Year GDP growth rate for the first quarter of 2022 has been estimated as negative 1.6% which indicated a considerable contraction of the economy compared to the first quarter of 2021.

"We expect this to continue for some time before settling down," Economic Stabilization Committee Head and former Treasury Secretary Dr. R.H.S. Samaratunga said.

The inflation too increased from last midyear and now it's at around 45% and food inflation at over 57%. In addition our reserves too ...