Sri Lanka, April 9 -- More than 200,000 micro, small, and medium-scale enterprises (SMEs) in Sri Lanka ceased operations between 2018 and 2022 due to various reasons, the Deputy Minister of Finance and Planning, Dr. Anil Jayantha Fernando said.

Speaking in Parliament today (09), the Deputy Minister revealed that approximately 108,000 businesses ceased operations as a direct result of the economic crisis.

He added that a further 155,000 enterprises were shut down due to other factors.

According to the Deputy Minister, data from the Department of Census and Statistics indicates that Sri Lanka had around 1.3 million registered institutions during the 2018-2022 period. Of these, about 1.037 million remain operational.

He also noted that a...