Sri Lanka has established a special Committee on Economic Surveillance to assess the potential impact of the Middle East conflict on the country’s fragile economy, Cabinet Spokesman Nalinda Jayatissa said on Tuesday.
The Cabinet of Ministers approved the move following a proposal by President Anura Kumara Dissanayake, who also holds the finance portfolio. Labour Minister Anil Jayantha Fernando will chair the committee, which will include senior policymakers, heads of key state institutions, and industry representatives.
Jayatissa said the committee would function as an early warning mechanism, reviewing risks across sectors and recommending policy responses to the Government.
“As a very small open economy, Sri Lanka is exposed to external shocks due to its dependence on energy imports, remittances from expatriate workers in the Middle East, and trade and investment ties with the region,” he told reporters.
Officials warned that escalating hostilities could disrupt fuel supplies, reduce foreign exchange inflows, and undermine the country’s economic recovery.
The committee will continuously monitor developments, evaluate potential risks, and advise the Government on precautionary measures to safeguard economic stability.
Members are expected to include Central Bank Governor Nandalal Weerasinghe, Treasury Secretary Harshana Suriyapperuma, and senior industry representatives.
