Sri Lanka, April 10 -- Sri Lanka has witnessed a significant contraction in its small business sector in recent years, with more than 200,000 micro, Small and Medium-scale Enterprises (SMEs) ceasing operations between 2018 and 2022, Deputy Minister of Finance and Planning Dr. Anil Jayantha Fernando told Parliament yesterday.Sri Lanka Travel

Addressing lawmakers, the Deputy Minister highlighted the severe toll of the country's economic crisis on the SME sector, noting that approximately 108,000 businesses were forced to shut down as a direct consequence of the economic crisis that gripped the nation. He further revealed that an additional 155,000 enterprises closed due to other challenges, underscoring the multiple pressures faced by smal...