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Sri Lanka Stocks Rally as ASPI Surges 15% in 2024

Sri Lanka Stocks Rally as ASPI Surges 15% in 2024

The Sri Lankan stock market bounced back strongly in early 2024. The All Share Price Index (ASPI) jumped by 15%. This surge shows growing investor trust in the country’s economic stability.

The Colombo Stock Exchange (CSE) saw busy trading days. Daily turnover ranged from Rs. 3.3 billion to Rs. 5.3 billion. Nine straight positive sessions highlighted the market’s strong performance.

Stock Market Recovers, ASPI Gains 15% in First Half of 2024

The blue-chip S&P SL20 index also grew, rising 2.41% to 2,794.15 points. Better-than-expected company earnings fueled this growth. The nation’s economy looks promising, with GDP growth predicted to hit 2-3% by year-end.

Offboard deals on specific stocks made up 15% of total turnover. These deals involved companies like Watawala Plantations and Commercial Bank of Ceylon. This shows strong investor interest in these firms.

The bull market proves Sri Lanka’s economic resilience. It’s attracting both local and foreign investors. As the rally continues, it’s expected to boost overall economic growth.

Stock Market Recovers, ASPI Gains 15% in First Half of 2024

The Sri Lankan stock market has shown impressive growth in 2024’s first half. The All-Share Price Index (ASPI) jumped 15%, while the S&P 20 rose 19%. Lower inflation rates and interest rates have boosted investor confidence.

Inflation Eases and Interest Rates Decline, Boosting Investor Confidence

Falling inflation and interest rates have fueled the stock market’s recovery. Investors now feel more optimistic about listed companies’ future. Quarterly interest costs for core companies have dropped significantly since 2020.

Sri Lanka stock market performance

Foreign Inflows Contribute to Market Rally

Foreign portfolio investment has driven the market rally. As the economy improves, foreign investors have become net buyers. Completing external debt restructuring is vital for market sentiment.

Sticking to the IMF reform program is crucial for sustained growth. Any deviation may create uncertainty and discourage foreign investor participation.

Key Sectors Like Capital Goods and Diversified Financials Lead the Surge

Capital Goods and Diversified Financials sectors are leading the market recovery. These companies have reported strong earnings growth and improved profitability. The banking sector is expected to see a re-rating.

Core earnings will be driven by loan growth amid positive GDP expectations. Non-Banking Financial Institutions should benefit from the current declining interest rate cycle.

Sector Allocation
Banks/NBFI 30%
Conglomerates 25%
Manufacturing 20%
Consumer 15%
Leisure 10%

Increased trading volume and investor participation have supported market growth. Small to mid-cap companies may outperform large caps due to falling fixed-income yields. CSE earnings are expected to grow by 15.0% in 2024.

The ASPI target is set at 13,800 levels by year-end. The Sri Lankan stock market is ready for further growth and recovery.

Factors Driving the Bull Market

Sri Lanka’s stock market bull run stems from improved economic outlook and investor sentiment. Successful debt restructuring talks led to an IMF agreement for a $2.90 billion Extended Fund Facility. This boosted investor confidence, showing the government’s commitment to economic reforms.

Government reforms and the IMF program have stabilized the macroeconomic environment. Inflation dropped to about 35% in April 2023 from over 70%. Market-based pricing for fuel and cooking gas has aided the economic turnaround.

Sri Lanka has made progress in overcoming its economic crisis. The tourism sector’s rebound has been a key factor in 2023’s economic growth.

Lower Inflation and Interest Rates Spark Multiple Expansion for Equities

Falling inflation and interest rates have fueled the Sri Lankan stock market bull run. Inflation is expected to hit single digits by Q3 2023. This has made investors more optimistic about the country’s economic future.

Lower interest rates have led to higher stock prices. Investors are willing to pay more due to improved earnings visibility. The Sri Lankan Rupee gained about 10% in February 2023 alone.

Successful Debt Restructuring Negotiations Improve Economic Outlook

Debt restructuring talks have been a game-changer for Sri Lanka’s economy. Foreign debt was 55% of total debt in early 2022. The IMF agreement and fiscal plans have greatly improved the economic outlook.

This has boosted various sectors, like Financial Services and Leisure. Maldivian Resorts and Colombo Hotels have performed well. The Group’s Bunkering business has seen higher profits from fuel prices and volumes.

Government Reforms and IMF Extended Fund Facility Program Support Recovery

Government reforms and the IMF program provide a strong base for Sri Lanka’s recovery. These measures address macroeconomic imbalances and set the stage for future growth. The Group reported 17% EBITDA growth to Rs.45.74 billion despite challenges.

The Supermarket business showed resilience with 45% EBITDA growth to Rs.7.46 billion. Ongoing reforms and fiscal discipline are expected to brighten economic prospects. This provides a solid foundation for the continuing bull market in Sri Lankan stocks.

Sri Lanka Becomes UK’s Second Largest TNE Partner

Sri Lanka Becomes UK’s Second Largest TNE Partner

Sri Lanka has surpassed Malaysia as the UK’s second-largest transnational higher education (TNE) partner. It now accounts for 10% of the UK’s total TNE enrollments. This growth has made Sri Lanka a key player in global cross-border education partnerships.

British High Commissioner Andrew Patrick reports a 50% increase in Sri Lankan TNE enrollments. The number of students reached 53,915 between 2022 and 2023. This surge has made Sri Lanka the fastest-growing among the top ten TNE host countries.

The expansion of study abroad programs in Sri Lanka has been largely organic. There has been little intervention from the British government. This growth shows strong demand for high-quality international education among Sri Lankan students.

UK universities have shown willingness to partner with local institutions. These partnerships have contributed to the rapid increase in TNE enrollments from Sri Lanka.

Rapid Growth of UK Transnational Education in Sri Lanka

UK universities are expanding rapidly in Sri Lanka. The country is now the second-largest partner for UK Transnational Education (TNE) in 2022-2023. This growth meets the rising demand for quality education in Sri Lanka.

Sri Lanka Surpasses Malaysia as Second-Largest UK TNE Partner

Sri Lanka now accounts for 10% of all UK TNE enrollments globally. This impressive growth has pushed Sri Lanka past Malaysia. It’s now the second-largest country for UK TNE.

Significant Increase in Sri Lankan Enrollments in UK TNE Programs

UK TNE programs in Sri Lanka have seen a 50% surge in enrollments. Nearly 54,000 students are now enrolled. This shows the growing demand for international education among Sri Lankan students.

Several factors contribute to the rapid expansion of UK TNE in Sri Lanka:

  • Limited capacity in state universities, with only 44,000 out of 171,532 qualified students gaining admission in 2022
  • The need for a skilled workforce to support Sri Lanka’s growth targets, particularly in sectors such as IT, engineering, and medicine
  • The focus on Science, Technology, Engineering, and Mathematics (STEM) programs to enhance Sri Lanka’s global competitiveness

Organic Expansion of TNE Partnerships without British Government Intervention

UK TNE in Sri Lanka has grown without significant British government support. Six types of TNE partnerships have been established. These collaborations are mainly between UK universities and local institutions.

Sri Lanka is investing in education and skills development. The international university at Port City Colombo will boost global academic mobility. It aims to attract international students.

Sri Lanka focuses on STEM subjects and partnerships with leading institutions. This positions the country as a potential regional hub for higher education. It’s set to become a key player in the international education market.

Addressing Challenges in Sri Lanka’s Higher Education Sector through TNE

Transnational Education (TNE) tackles Sri Lanka’s higher education challenges. In 2022, only 44,000 of 171,532 qualified students entered state universities. TNE partnerships open doors for those unable to pursue tertiary education.

Sri Lanka saw a 113% growth in TNE program enrollment over five years. This expansion provides more opportunities for students seeking higher education.

Bridging Quality Gaps in Local Education Framework

TNE arrangements improve Sri Lanka’s educational quality by aligning with UK standards. This collaboration enhances employability and skills development, addressing workforce gaps.

TNE partnerships also promote gender parity in higher education. This creates a more inclusive and diverse learning environment for students.

Eliminating Delays in University Admissions through Flexible TNE Programs

TNE programs remove long wait times for state university admissions. Students can start their education promptly, avoiding the typical 1-2 year delay.

This flexibility drives demand for private and transnational education in Sri Lanka. The country now accounts for 10% of all UK TNE enrollments.

Limited Research on TNE’s Impact in Sri Lanka

Despite TNE’s growth in Sri Lanka, comprehensive research on its impact is lacking. Plans are underway to formalize TNE through regulations and monitoring systems.

In-depth studies are needed to understand TNE’s challenges and opportunities. This research will guide policy decisions and shape Sri Lanka’s educational future.

Insights from these studies will ensure TNE continues addressing key issues in tertiary education. These include accessibility, quality, and enrollment backlogs.

FAQ

What is transnational education (TNE)?

TNE involves educational programs where students are in a different country from the institution. It includes branch campuses, distance learning, and partnerships between local and foreign universities.

How has Sri Lanka’s position changed in terms of UK TNE partnerships?

Sri Lanka is now the second-largest TNE partner for UK universities. It accounts for 10% of UK’s total TNE enrollments. This growth happened in just one year.

What types of TNE partnerships exist in Sri Lanka?

Six types of TNE partnerships have been set up in Sri Lanka. Most UK TNE enrollments are through collaborations between UK universities and local institutions.

How has the growth of UK TNE in Sri Lanka occurred?

TNE in Sri Lanka has grown organically, without much British government intervention. From 2022 to 2023, Sri Lankan enrollments in UK TNE programs increased by 50%.

This growth brought the total to 53,915 students. Sri Lanka is now the fastest-growing among the top ten TNE host countries for the UK.

What challenges does Sri Lanka’s higher education sector face?

Only 25% of eligible students get into public universities in Sri Lanka. This creates a big accessibility issue. There are also quality gaps in Sri Lanka’s educational system.

How do TNE partnerships help address these challenges?

TNE partnerships provide a key pathway for students who can’t access higher education otherwise. They expand access and help improve quality by aligning with UK standards.

These programs also eliminate long wait times often linked to state university admissions. Students can enroll without the typical 1-2 year delay.

Sri Lanka’s GDP Contracts by 7.8% in 2022; Recovery Ahead

Sri Lanka’s GDP Contracts by 7.8% in 2022; Recovery Ahead

The Sri Lankan economy shrank by 7.8% in 2022 amid an unprecedented crisis. Industry suffered the most, contracting by 16.0%. Agriculture also declined, shrinking by 4.6% that year.

Inflation skyrocketed from 5.9% in 2021 to 46.4% in 2022. This led to a 9.0% drop in private consumption. The central bank hiked policy rates by 1,050 basis points to fight inflation.

Gross capital formation fell by 24.9% in 2022. This further added to the economic downturn. However, signs of slow recovery are emerging.

The fiscal deficit decreased to 10.2% of GDP in 2022. Government spending fell from 15.6% of GDP in 2021 to 14.6% in 2022. Revenue remained steady at 8.3% of GDP.

Protecting the poor is vital during this crisis. They’ve been hit hardest by economic troubles. Recovery may take time, but targeted reforms can help.

International support, like the FAO and Norad fisheries project, is crucial. With these efforts, Sri Lanka can build a more stable future.

Key Takeaways

  • Sri Lanka’s GDP contracted by 7.8% in 2022, with industry and agriculture sectors significantly affected.
  • Inflation soared to 46.4% in 2022, leading to decreased private consumption and increased policy rates.
  • The fiscal deficit narrowed to 10.2% of GDP in 2022, and government recurrent expenditure decreased.
  • Protecting the poor and vulnerable is crucial as Sri Lanka navigates the economic crisis.
  • Gradual recovery is expected with targeted reforms and international support.

Economic Crisis and Contraction in 2022

Sri Lanka faced a severe economic crisis in 2022. The country’s GDP contracted by 7.8%. This crisis stemmed from pre-existing vulnerabilities, policy missteps, and external shocks.

Foreign currency reserves dwindled, causing scarcity of essential goods. An acute energy crisis worsened the country’s fiscal challenges. These factors left Sri Lanka ill-prepared to handle the economic storm.

Factors Contributing to the Economic Crisis

The Sri Lankan rupee depreciated by 44.8% year-on-year in 2022. Inflation rates soared to 46.4%. The country heavily relied on indirect taxes for revenue.

State-owned enterprises (SOEs) were loss-making and depended on government financing. Guaranteed SOE debt totaled 5.6% of GDP by the end of 2022.

Impact on Various Sectors and Living Standards

The crisis affected many sectors. Industry contracted by 16.0%, agriculture by 4.6%, and services by 2.0%. Construction, manufacturing, real estate, and financial services were hit hard.

The human cost was devastating. Half a million jobs were lost. Food insecurity and malnutrition increased. Poverty rates doubled and inequality widened.

Some sectors showed resilience. Smallholders in the Climate Smart Irrigated Agriculture Project saw income improve by 13%. This contrasted with a 19% drop for non-participating households.

The government is now focusing on debt restructuring and reforms. They aim to stabilize the economy and foster recovery. Support from the IMF and international partners is crucial.

The road ahead is challenging. However, resilient sectors and targeted interventions offer hope. A gradual turnaround may be possible with continued efforts.

Fiscal Challenges and Reform Measures

Sri Lanka faces major fiscal challenges amid its economic crisis. The Treasury ran a primary budget deficit of 5.7% of GDP in 2021. The government has taken steps to address these issues through reform measures.

Tax cuts from 2019 have been reversed. Partnerships focusing on precision agriculture are being developed to boost productivity. These efforts aim to promote sustainable practices in the agriculture sector, which shrank by 4.6% in 2022.

Reversal of Tax Cuts and IMF Extended Fund Facility Arrangement

The IMF’s Extended Fund Facility arrangement approval is a crucial step for Sri Lanka’s economy. This bailout package aims to help regain macroeconomic stability. The government is implementing structural reforms to enhance revenue and stabilize the economy.

These reforms include cost-reflective utility pricing and changes in trade and investment. State-owned enterprises and social protection systems are also being reformed. These measures are designed to address the country’s fiscal challenges effectively.

Debt Restructuring Efforts and Stabilization

Sri Lanka is working on debt restructuring with external creditors. In July 2023, Parliament approved a domestic debt restructuring strategy. This shows the country’s commitment to economic recovery.

These adjustments may initially impact growth, poverty, and inequality. However, they’re necessary to correct imbalances and regain access to international financial markets. The Climate-Smart Agriculture Investment aims to strengthen farming against climate change impacts.

There are signs of hope for Sri Lanka’s economic recovery. The Agriculture Sector Modernization Project generated about $141 million in new export earnings. The Climate Resilience Multi-Phase Program helped 11.5 million people across 22 districts.

Shehan Karunatilaka’s 2022 Booker Prize win for “The Seven Moons of Maali Almeida” brought international recognition to Sri Lanka. This literary success offers a glimmer of hope amid the country’s economic challenges.

Galle Face Green Becomes Cultural Hub During Peaceful Protests in 2022

Galle Face Green Becomes Cultural Hub During Peaceful Protests in 2022

In 2022, Galle Face Green transformed into Sri Lanka’s protest epicenter. This iconic Colombo oceanfront space hosted the People’s Aragalaya movement from April to July. The historic landmark became a stage for peaceful protests and civic activism.

On July 9th, 2022, record-breaking crowds gathered at Galle Face Green. People from across Sri Lanka united to call for political change. Protesters renamed the space “GotaGoGama” (GGG) during the demonstrations.

Galle Face Green Becomes Cultural Hub During Peaceful Protests in 2022

Galle Face Green has long symbolized Colombo’s vibrant culture and history. The British introduced horse racing there in 1829. In 1853, Governor Henry Ward completed the sea-front walk for Colombo’s residents.

The landmark has faced controversies over the years. In 1873-75, plans to build a railway through the green sparked public outcry. An alternate route was chosen, preserving Galle Face Green’s integrity.

Historic Significance of Galle Face Green

Galle Face Green is a key Colombo landmark with a rich history. It has changed from marshland to a beloved public space. This iconic area has played a big role in colonial and modern times.

In the 1800s, British rule made Galle Face Green a trendy spot. It became popular for Victorian sports and leisure. The green space hosted many historic events over time.

A key moment was the mass independence rally on February 4th, 1948. This marked a turning point in Sri Lanka’s path to self-rule.

Evolution of Galle Face Green Over Centuries

Late 1800s saw a big fight over Galle Face Green. Plans for a railway line through the area faced strong opposition. The public, council, and Governor of Ceylon all got involved.

In the end, they decided to keep the area for public use. This choice helped preserve the green space for everyone to enjoy.

Landmark Public Gatherings at Galle Face Green

Galle Face Green has been a key spot for big events and peaceful protests. Recently, it saw huge crowds during the People’s Aragalaya protest movement.

People from all walks of life came together here. They united to ask for big changes and fair treatment in the economy.

Galle Face Green Becomes Cultural Hub During Peaceful Protests in 2022

In 2022, Galle Face Green in Colombo became a vibrant cultural hub. Peaceful demonstrations, called the Aragalaya movement, took place here. People from various backgrounds gathered to voice concerns about economic hardships.

Protesters renamed Galle Face Green “GotaGoGama”. This name referred to their demand for President Gotabaya Rajapaksa’s resignation. The movement’s main hashtag was #GoGotaHome, which sparked variations like #GoGota and #PalaGota.

Unprecedented Crowds Gather at Galle Face Green on July 9th, 2022

On July 9th, 2022, record-breaking crowds gathered at Galle Face Green. This marked a significant moment in the Aragalaya movement. The protests blended various cultural elements, with technology playing a key role.

Protesters used social media and digital networks to coordinate efforts. They also expressed dissent in novel ways. For example, they projected laser messages on the Presidential Secretariat walls.

The demonstrations showcased over twenty facets of culture. These included art, music, and democratic expression. However, some instances of derogatory behavior towards political figures occurred.

The protests lasted from March 15th to November 14th, 2022. They resulted in casualties, arrests, and resignations of key officials. This included President Gotabaya Rajapaksa.

The movement significantly impacted Sri Lanka’s political and social landscape. It highlighted the power of peaceful demonstrations in creating change. It also emphasized the importance of addressing the nation’s economic challenges.

Conclusion

Galle Face Green transformed into a vibrant cultural hub during 2022’s peaceful protests. This iconic space has been a platform for democratic expression throughout history. The recent Aragalaya movement further cemented its importance in Sri Lankan heritage.

On July 9th, 2022, unprecedented crowds gathered at Galle Face Green. They renamed it “GotaGoGama,” showing people’s determination to demand change. This event highlighted the power of collective action and Sri Lankan resilience.

Galle Face Green remains a beacon of hope amid Sri Lanka’s challenges. It’s crucial for fostering democratic expression and cultural resilience. Citizens continue to use this space to advocate for their rights.

Preserving this iconic space is vital for future generations. It ensures they can freely assemble and voice their opinions. Galle Face Green represents Sri Lanka’s democratic aspirations and cultural identity.

Sri Lanka Updates School Curriculum for Grades 6-13 in 2024

Sri Lanka Updates School Curriculum for Grades 6-13 in 2024

Sri Lanka’s Education Ministry is revamping the curriculum for grades 6-13 starting in 2024. This update aims to modernize learning and improve academic standards. The goal is to prepare students for future challenges.

Artificial Intelligence will be an optional subject from grade 8 onwards. This will complement existing IT courses. The government is also seeking approval for a new policy on digital education.

Sri Lanka boasts a 94.5% adult literacy rate and gender parity in education. However, challenges like unemployment (4.5%) and limited internet access (40%) persist. The curriculum update focuses on digital skills to boost youth employability.

Education Ministry Announces Curricula Update for Grades 6-13 from 2024

The Education Ministry plans to modernize the K-12 curriculum starting in 2024. This update aims to improve student learning and prepare them for future challenges. The reforms will focus on critical thinking, creativity, and digital literacy.

The government has secured a $100 million credit agreement with the World Bank. This funding will help develop digital learning materials for English and Mathematics. These subjects are key to the country’s economic growth.

Artificial Intelligence (AI) to be Introduced as Optional Subject from Grade 8

AI will become an optional subject for students from Grade 8 onwards. This addition will allow students to explore this new field alongside traditional IT subjects. Students will gain skills needed for our technology-driven world.

Cabinet Approval Sought for Education Digitization Policy

The government is seeking Cabinet approval for an education digitization policy. This policy will guide the changes in the education sector. It aims to provide all students with quality digital learning resources.

Sri Lanka is committed to offering world-class education that meets global standards. The reforms focus on helping disadvantaged regions and key subjects. These changes will boost student learning and support long-term economic growth.

Addressing Challenges in Sri Lanka’s Education System

Sri Lanka’s education system boasts impressive youth literacy rates and free public education. However, it faces challenges in quality, equity, and relevance. Only 23,000 out of 220,000 students enter state universities annually. This leads many to seek education abroad.

Comprehensive reforms are needed to address these issues. The Education Ministry plans to update curricula for Grades 6-13 from 2024. These reforms should focus on key areas.

Ensuring Quality, Equity, and Relevance in Education

Modernizing curricula is crucial for high-quality, relevant education in the 21st century. This includes adding subjects like AI and emphasizing critical thinking skills. Enhancing teacher training is also essential.

Educators need skills to deliver effective instruction and adapt to new curricula. This will help ensure students receive the best possible education.

Integrating Technology and Bridging the Educational Divide

Technology integration is vital to provide equal opportunities for all students. Sri Lanka received a $100 million World Bank loan for STEM enrollment expansion. More investments are needed for digital resources in schools.

The ongoing economic crisis has worsened these challenges. Low investment in education has led to neglect of quality development. The government plans to prioritize human capital development.

They aim to invest about 3 percent of GDP to drive change in education. This investment will help prepare students for success in the global economy.

Proposed Reforms for Primary and Secondary Education

Sri Lanka plans to reform primary and secondary education. These changes aim to improve learning quality and relevance. Students will gain skills needed for success in today’s world.

Revising Curricula to Emphasize Critical Thinking and Creativity

The Education Ministry is updating curricula for all grades. The focus will be on critical thinking, creativity, and problem-solving. Students will learn to apply knowledge in real-life situations.

The Aesthetic Education Curriculum is also getting a makeover. Art, Music, Dance, and Drama will nurture artistic skills. Students will develop creative expression and cultural appreciation.

Promoting English Learning and STEAM Education

English learning will be a priority across all grades. This recognizes its importance in the global economy. STEAM education will be part of the curricula too.

STEAM develops scientific literacy, tech skills, and innovation. By 2025, all schools will become smart schools with digital resources. A STEEAM education system will be in place.

Ensuring Digital Integration in All Schools

By 2040, all schools will have high-speed internet and digital devices. Teachers will be trained to use these tools. This will help bridge the education gap.

Students will access online resources and interactive platforms. The government will provide free transport for teachers. Each school will have a trust fund for sustainability.

Restructuring Examinations for Holistic Assessment

The exam system will change to reduce student stress. Instead of memorization, tests will assess understanding and problem-solving. Continuous assessment will provide a more complete picture of student learning.

Girl students in Grades 6-13 will receive monthly cash for menstrual products. This shows the government’s commitment to student well-being.

These reforms aim to transform education in Sri Lanka. They focus on critical thinking, creativity, and digital skills. New initiatives like VSSL and vocational colleges will prepare students for future challenges.

Curricula of Grades 6–13 to Be Updated from 2024, Announces Education Ministry

Sri Lanka’s Education Ministry plans to update curricula for Grades 6-13 starting in 2024. This update aims to create an equitable and innovative education system. The reforms seek to enhance educational outcomes and foster economic growth.

The 2024 budget allocates Rs. 237 billion for educational initiatives. An additional Rs. 280 billion is designated for education at the provincial level. The total education budget for 2024 is approximately Rs. 517 billion.

These funds will support various programs, including teacher recruitment for estate schools. A special program for early childhood development will target children aged 3-5.

The reforms plan to introduce inclusive education for children with special needs. It aims to conduct GCE O/L in Grade 10 and GCE A/L in Grade 12. Students will gain formal access to STEAM education fields.

The Ministry plans to establish a training University in Kotagala. This will prepare students for plantation work. They’ll collaborate with NGOs to expand education programs.

These changes will prepare the next generation for 21st-century challenges. They’ll contribute to national development and global competitiveness. Sri Lanka is working towards a progressive and inclusive educational future.

FAQ

What changes are being made to the curricula of Grades 6-13 in Sri Lanka?

Sri Lanka’s Education Ministry plans to update the curriculum for grades 6-13 starting in 2024. The reforms aim to boost critical thinking and creativity. They will integrate subjects like English, STEAM education, and Artificial Intelligence.

When will the updated curricula be implemented?

The Education Ministry will implement the new curricula for Grades 6-13 in 2024.

What new subjects will be introduced in the updated curricula?

Artificial Intelligence (AI) will be an optional subject from Grade 8 onwards. Students can study AI alongside information technology subjects.

What is the government’s plan for the digitization of education?

The government seeks Cabinet approval for a policy on education digitization. This policy will guide educational transformation processes.

Schools will receive high-speed internet and digital devices. Teachers will be trained to support digital learning.

How will the proposed reforms address the challenges faced by Sri Lanka’s education system?

The reforms aim to improve quality, equity, and relevance in education. They will modernize curricula and enhance teacher training.

The government plans to invest about 3 percent of GDP in education. This investment will drive transformative change in the sector.

What changes are being made to the Aesthetic Education curriculum?

The Aesthetic Education curriculum is being redesigned to develop 21st-century skills. It will include subjects like Art, Music, Dance, and Drama.

The new curriculum will focus on Artistic Perception and Creative Expression. It will also cover Historical & Cultural Context and Aesthetic Appreciation.

How will examinations be restructured under the proposed reforms?

Examinations will be restructured to reduce stress and promote holistic assessment. The focus will shift away from memorization and rote learning.