Government to Establish Economic Monitoring Committee to Assess Impact of Middle East Conflict

12-Mar-2026

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The Government has decided to establish an Economic Monitoring Committee to assess the potential impact of the ongoing conflict situation in the Middle East region.

The present war situation in the Middle East has created a climate of global uncertainty that could adversely affect economies worldwide.

As a country with a relatively small and open economy, Sri Lanka remains vulnerable to external economic shocks due to its reliance on energy imports, remittances from migrant workers employed in Middle Eastern countries, as well as trade and investment links with the region.

In this context, the proposed committee will continuously monitor possible impacts on the Sri Lankan economy, evaluate risks that may arise across various sectors, and periodically review the evolving situation. It will also submit recommendations to the Cabinet regarding appropriate policy responses.

Accordingly, Cabinet has approved a proposal submitted by the President to appoint an Economic Monitoring Committee headed by Minister of Labour and Deputy Minister of Finance and Planning Dr. Anil Jayantha Fernando, together with heads of relevant institutions and subject-matter experts.