Economic Monitoring Committee begins assessing Middle East crisis impact on Sri Lanka

Thursday, 12 March 2026 05:36 - - {{hitsCtrl.values.hits}}

The Economic Monitoring Committee convened on Tuesday to closely monitor the potential economic fallout from the escalating conflict in the Middle East and to assess risks and discuss urgent policy responses.

The Committee, established on a Cabinet proposal submitted by President Anura Kumara Dissanayake, had reviewed the possible impact of the volatile global environment on the country’s economy and explored measures required to stabilise markets and safeguard the welfare of citizens.

During the session held at the Presidential Secretariat, the Committee reviewed the potential economic implications of the geopolitical tensions and discussed urgent measures required to stabilise markets and protect the welfare of citizens.

It was noted that Sri Lanka, as a small open economy, remains highly vulnerable to external shocks, particularly due to its reliance on fuel imports, remittances from migrant workers in the Middle East, and trade and investment links with the region.

Against this backdrop, discussions focused on the potential economic risks arising from the crisis, including pressures on foreign exchange flows, energy costs, and broader market stability.

The Committee also emphasised the need for continuous monitoring of global developments and timely policy responses to mitigate possible disruptions and maintain economic stability.

The Committee is chaired by Labour Minister and Finance and Planning Deputy Minister Dr. Anil Jayantha Fernando, while Senior Additional Secretary to the President – Finance and Economic Affairs Russel Aponsu serves as the Secretary and Convener of the Committee.

The members of the Committee include Central Bank of Sri Lanka (CBSL) Governor Dr. Nandalal Weerasinghe, Treasury Secretary Dr. Harshana Suriyapperuma, Senior Presidential Adviser on Digital Economy Dr. Hans Wijayasuriya, Senior Economic Adviser to the President Duminda Hulangamuwa, Industry and Entrepreneurship Development Ministry Secretary Thilaka Jayasundara, Ceylon Petroleum Corporation Chairman D.J.A.S. de S. Rajakaruna, Litro Gas Lanka Ltd., Chairman Channa Gunawardena, Sri Lanka Ports Authority Chairman Dr. Parakrama Dissanayake, Sri Lanka Export Development Board Chairman Mangala Wijesinghe, Special Presidential Representative on Foreign Investment and Western Province Governor Hanif Yusoof, Sri Lanka Tea Board Chairman R.K. Obeysekara, Sri Lanka Tourism Development Authority Chairman Buddhika Hewawasam, and the Foreign Employment and Tourism Ministry Additional Secretary – Economic Affairs.