economic research jobs in sri lanka

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Access Solar (Pvt) Ltd

Electrical engineers (solar related) / technical officer / solar technician.

• 12 days ago

Institute of Policy Studies of Sri Lanka

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Research Analyst at World Bank Group

Research Analyst

World Bank Group

Colombo, Sri Lanka

Experience: 3 to 5 Years

Skill Required: Research, Survey and Report Writing

Apply By: 20-08-2023

Job Description

Description.

Macroeconomics, Public Sector, Trade and Investment (MPSTI) staff work across a wide array of Bank instruments and often lead or participate in the preparation of Strategic Country Diagnostics, as well as other analytic tools such as Country Economic Memorandum, Climate Change Development Report, Country Private Sector Diagnostics, Public Expenditure Reviews, and just-in-time advisory notes on economic policy and public sector management issues.  Knowledge and learning is a central part of MPSTI’s work focused on 14 thematic areas:  macroeconomics; fiscal policy; tax policy and administration; economic management in resource rich environments; macroeconomic modelling & statistics; trade and regional integration; competition policy; public investment management; business regulation, growth; public sector management, state owned enterprise management; jobs and economic transformation; and (n) political economy analysis.

Duties and Accountabilities:

This is a local position for a Research Analyst. The Research Analyst will be part of the Sri Lanka and Maldives MPSTI Country Unit and work closely with a team of economists to produce high-quality analytics. The Research Analyst will report to the MPSTI Practice Manager covering South Asia. The selected candidate will undertake the following tasks:

• Update and maintain economic, financial, and statistical databases for Sri Lanka
• Monitor domestic, regional, and global economic developments to assess their impact on the Sri Lankan economy; for example, the national budget, and public and private sector trends
• Contribute to the team’s policy research and production of analytical reports and briefs on a range of economic growth, macroeconomic, fiscal, financial, debt, and/or trade-related topics, among others
• Work with the team on the analysis of recent economic developments and the macroeconomic outlook and forecasts, including through macroeconomic modelling
• Coordinate inputs from internal World Bank teams and support the economic policy dialogue and interactions with the authorities and other development partners 

Selection Criteria:

The successful candidate will have some experience on analytical work in economics, fiscal management, or macroeconomic issues, as relevant for this position.

Technical Skills and Experience:

• Minimum Master’s degree in Economics and at least 3 years of relevant professional experience
• Strong analytical skills and ability to conduct policy-relevant research 
• Advanced skills in Microsoft Excel, Word, and PowerPoint
• Excellent English oral and written communication skills
• Ability to work flexibly on a range of evolving tasks and meet deadlines
• Experience with econometrics software such as Stata is preferred

Source:  https://worldbankgroup.csod.com/ats/careersite/JobDetails.aspx?id=23818&site=1

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THE MOST INFLUENTIAL ECONOMIC POLICY THINK TANK IN SRI LANKA

Latest Publication: Trade Wars in Electric Vehicle Supply Chains: A Win for Sri Lanka’s Graphite Industry?

Call for Proposals: Saman Kelegama Memorial Research Grant 2024

IPS Flagship Publication Sri Lanka: State of the Economy 2023

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INSTITUTE OF POLICY STUDIES OF SRI LANKA

The Institute of Policy Studies of Sri Lanka (IPS) is an autonomous institution that aims to contribute to socio-economic development through high quality, policy-oriented economic research.

The substantive focus of the Institute’s research programme is to provide an integrated analysis of development challenges facing Sri Lanka to meet the fundamental objectives of sustainable growth, equity and poverty alleviation. The IPS research programme is carried out under the following themes.

• Macro, Trade & Competitiveness
• Migration & Urbanization
• Health, Education & Labour
• Agriculture & Agribusiness Development
• Poverty & Social Welfare
• Environment, Natural Resources & Climate Change

The IPS publications are an important means through which the Institute disseminates its research findings, obtains feedback and reactions, and informs policy makers on issues of socio-economic policy.

• State of the Economy
• Research Studies
• Policy Insights
• Talking Economics Digest
• South Asia Economic Journal

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Syndicated Surveys

Syndicated Surveys is an opinion polling product, designed and conducted by Verité Research. This product offers clients the opportunity to gain insight into public opinion and sentiment in Sri Lanka on social political and economic issues.

Understanding the Sri Lankan Media

Efficient decision making on matters that impacts the public arena requires a thorough understanding of the factors that shape public opinion. In order to acquire such an understanding, it is crucial to examine the vernacular press and its role in public opinion formation. Verité Research has been conducting research and analysis into the vernacular media since its inception in 2010. Built on the foundation of this experience and expertise, Verité offers clients a nuanced understanding of public debates and discourses.

Assessing law & policy

Verité Research has a team of lawyers with expertise in constitutional law, labour law, trade and investment, human rights, international law, and the administration of justice. The team’s research focuses on three main thematic areas. The first involves constitutional, legislative and judicial analysis. The second involves analysis of policies, regulations, and administrative systems. The final area deals with rights protection and promotion. The legal research team offers advisory briefings on any one or combination of these research areas.

Advisory Services

Verité Research offers advisory services to clients from the government, corporate, development and diplomatic sectors. These services can be customised to suit the specific needs of each client. Advisory packages are available as one-off engagements or as continuous engagements on a monthly, quarterly or annual basis.

Running an economy is not about putting a framework in place and letting it run instead it needs constant vigilance & intervention. Not like a self-driving Tesla on US highway, more like driving a Maruti on Sri Lankan roads. That steering wheel needs to be constantly adjusted

We also found there are significant gaps in sectors such as agriculture, which is very politically sensitive. in 2013, there was a gap of 40%, or in other words, the actual expenditure was 40% less than promised expenditure for the sector. and even in 2016, there was a 30 % gap between the promised allocation and the delivery of the proposals announced through budget, relating to the agriculture sector, work with us.

The Current State of the Job Market in Sri Lanka: Trends and Insights

Economic overview and employment trends

The economic landscape of Sri Lanka has been experiencing steady growth, driven by sectors such as tourism, services, and information technology (IT). This growth has translated into diverse job opportunities for both local and international talent. The strategic positioning of Sri Lanka in the Indian Ocean has further enhanced its role as a trade and investment hub, shaping the contours of its job market. According to the U.S. Bureau of Labor Statistics, total employment is projected to grow by almost 4.7 million from 2022 to 2032, primarily driven by growth in the health care and social assistance sector.

Key sectors driving job growth

Several key sectors stand out as drivers of job growth in Sri Lanka:

• IT and Technology : The IT sector has witnessed remarkable expansion, fuelled by government initiatives supporting foreign investment and entrepreneurship. Technology parks equipped with modern infrastructure have provided a platform for the growth of IT companies.
• Construction: Job opportunities have increased in the construction industry, especially for skilled workers like masons, carpenters, and electricians. Additionally, the demand for construction workers in Gulf Cooperation Council (GCC) countries has contributed to job growth in this sector.
• Tourism and Services : The tourism industry plays a pivotal role in job creation, generating demand for skilled professionals in hospitality, tour guiding, and related services.
• Education and Training : Growth in the education sector has led to more job opportunities for teachers, administrators, and education professionals. Government efforts to align education with market needs have played a crucial role in enhancing workforce skills.

Impact of global events on employment landscape

The COVID-19 pandemic has significantly impacted Sri Lanka’s job market, leading to losses in tourism and hospitality but creating new opportunities in e-commerce and remote work. An economic crisis, driven by an unsustainable debt load, has resulted in a severe shortage of foreign currency exchange, affecting trade and labour supply for essential goods. Despite these challenges, the IT job market in Sri Lanka is thriving, with a 1.13% month-over-month increase in active job postings (1,162 in June 2023) and a 5.29% increase in technology-related job postings (577 in June 2023) according to GlobalData. Additionally, the International Labour Organization is conducting a study to guide recovery and transformation strategies for Sri Lanka’s labour market, focusing on the impact on micro, small, and medium-sized enterprises (MSMEs).

Emerging job roles shaping the future workforce

The evolving job market in Sri Lanka has given rise to new roles reflecting the growing importance of technology and digital skills. Emerging job roles include:

• Data Scientist
• Artificial Intelligence Engineer
• Cybersecurity Specialist
• Digital Marketing Specialist
• Remote Work Specialist
• Data analysis
• Cybersecurity

Technology and automation in the Sri Lankan job market

The Sri Lankan job market has seen significant developments in technology and automation. The government has actively supported the growth of the IT sector, established technology parks and implementing policies to promote foreign investment and entrepreneurship. The IT job market in Sri Lanka offers a diverse range of roles, including software development, data science, artificial intelligence, cybersecurity, cloud computing, and IT project management, providing opportunities for professional growth and upskilling. Additionally, the number of active technology-related job postings in Sri Lanka increased by 5.29% month-over-month, reaching 577 active job postings in June 2023. However, the integration of AI technology has raised concerns about job displacement, emphasizing the need for educational institutions and training programs to equip individuals with the necessary skills to work with AI. Despite challenges, AI also presents opportunities for the creation of new jobs and industries, such as AI research and development, contributing to economic growth and job creation.

Challenges and opportunities in the current job market climate

The job market in Sri Lanka presents a mix of challenges and opportunities. The IT sector has flourished, offering a diverse range of roles and competitive salaries, driven by government support and infrastructure development. However, the number of active job postings in Sri Lanka increased by 1.13% month-over-month but decreased by 3.89% since March 2023, indicating fluctuations in job availability. The evolution of the Sri Lankan education system has influenced employability and skill development, with a significant challenge being the skills mismatch between graduates’ qualifications and job market demands. The COVID-19 pandemic and other global and domestic shocks have led to a “triple crisis” in Sri Lanka, impacting economic activity and the labour market. Bridging the gap between the education system and the job market requires a proactive and collaborative approach involving educational institutions, policymakers, employers, and students.

Remote work revolution and changing dynamics

The Remote Work Revolution is reshaping how and where work happens, transforming traditional dynamics. Beyond a response to global events, it signifies a lasting shift in work structures. Remote work, now a sought-after benefit, offers employees flexibility and proves strategic for employers in talent management.

Enabled by technology, this revolution fosters autonomy, work-life balance, and heightened productivity. It’s not just about remote locations; it’s a cultural shift towards a future where a hybrid model combines remote flexibility with in-person collaboration. This revolution is not a temporary adjustment but a fundamental redefinition of work norms, influencing the professional landscape for the long term.

Employment rates and market insights

The employment rate in Sri Lanka is forecasted to be 50.06% in 2023, with the number of employed people forecasted to be 9.32 million. However, the employment rate in Sri Lanka decreased to 94.80% in the second quarter of 2023 from 95.30% in the first quarter of 2023. The number of active job postings in Sri Lanka increased by 1.13% month-over-month. Additionally, 465 new jobs were posted in June 2023, marking a 17.13% increase compared to the previous month. However, 452 jobs were closed in the same month, indicating a 2.26% decrease in available positions. The International Labour Organization (ILO) has focused on issues such as automation and job displacement, employment conditions, and inequities in the labour market in Sri Lanka.

Tips to gain a better job opportunity

• Start Early : Begin your career journey early, especially if you’re a school leaver. Focus on entry-level positions to gain experience while pursuing higher studies.
• Job-Oriented Courses : Enrol in courses relevant to your desired field. Enhance soft skills, English language proficiency, and IT skills to boost your qualifications.
• Personality Improvement : Beyond educational qualifications, cultivate a pleasant personality. Participate in personality development programs and conduct self-research to present yourself effectively.
• Stay Updated: Regularly check for the latest job vacancies. Explore government gazettes, websites, newspapers, and other job portals for opportunities in both public and private sectors.
• Follow Application Guidelines : Adhere to specific application guidelines for government and private jobs. Understand the varying application processes, which may include exams, interviews, and skill assessments.

ERC International Sri Lanka: Elevating talent acquisition across industries

Established in 2023 in Colombo, ERC International Sri Lanka is a pioneering recruitment consultant dedicated to connecting clients with exceptional talent in the vibrant Sri Lankan job market. Specializing in C-level and entry-level positions across industries, ERC International offers comprehensive talent solutions for sectors like IT, manufacturing, construction, education, tech, fashion, oil and gas, and healthcare. With a passionate team and a deep understanding of local and international job markets, ERC Sri Lanka serves as a reliable partner for both job seekers and companies, committed to empowering careers and driving organizational excellence. As a leading recruitment firm, ERC International is instrumental in filling talent needs at various levels, providing tailored solutions for diverse industries in Sri Lanka.

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Sri Lanka Development Update 2023

Thilina Kaluthotage

The Sri Lanka Development Update (SLDU) has two main aims. First, it reports on key developments over the past 12 months in Sri Lanka’s economy, places these in longer term and global contexts, and updates the outlook for Sri Lanka’s economy. Second, the SLDU provides a more in-depth examination of selected economic and policy issues. It is intended for a wide audience, including policymakers, business leaders, financial market participants, think tanks, non-governmental organizations and the community of analysts and professionals interested in Sri Lanka’s evolving economy.

Click here to download the latest Sri Lanka Development Update (October 2023).

RECENT ECONOMIC DEVELOPMENTS

The economy contracted by 7.8 percent in 2022 and 7.9 percent in the first half of 2023. Construction, manufacturing, real estate, and financial services suffered the most amid shrinking private credit, shortages of inputs, and supply chain disruptions, worsening the negative welfare impacts of income contractions and job losses registered in 2022. Headline inflation, measured by the Colombo Consumer Price Index, peaked at 69.8 percent in September 2022 and subsequently declined sharply to 4 percent in August 2023 from a high base amid subdued demand. Decelerating inflation was beneficial for households’ welfare, and helped limit further increases in food insecurity and malnutrition, especially among poor households.

The central bank began to loosen monetary policy as inflation decelerated. Policy rates were cut by 250 basis points in June 2023 and by a further 200 basis points in July, bringing the Standing Deposit Facility rate down to 11 percent and the Standing Lending Facility rate to 12 percent. Supported by policy rate cuts and better clarity on domestic debt restructuring, the 91-day T-bill rates fell below 20 percent in July 2023 (for the first time since April 2022).

Between January and July 2023, the merchandise trade deficit contracted by US$1 billion, driven by import restrictions and subdued import demand (primarily for intermediate and investment goods), despite the reduction in exports driven by weak global demand. Foreign exchange liquidity pressures are easing due to the absence of large debt service payments, strong remittance flows, and improved tourism earnings, leading to an accumulation of usable foreign reserves to US$2.4 billion by end-July 2023 (equivalent to 5-6 weeks of imports of goods and services). Stronger remittance flows contributed to higher non-labor income, although it also reflected an increase in emigration since the start of the crisis. After depreciating by 81 percent against the US Dollar in 2022, the currency (LKR) appreciated by 11 percent from January to August of 2023.

The overall fiscal deficit increased in the first four months of 2023, driven by a sharp rise in interest payments, despite higher total revenues and, consequently, a near closing of the primary deficit. While some of the necessary fiscal reforms, including new revenue measures, have improved overall progressivity, indirect taxes, and rising energy prices are placing a disproportionate burden on the poor and vulnerable. Unless mitigated with targeted measures, the removal of energy subsidies could lead to further poverty increases.

Sri Lanka’s longstanding structural weaknesses were elevated by several shocks, which ultimately plunged the country into an economic crisis. Poor governance, a restrictive trade regime, a weak investment climate, episodes of loose monetary policy, and an administered exchange rate contributed to macroeconomic imbalances. Fiscal indiscipline led to high fiscal deficits and large gross financing needs, which, together with risky commercial borrowing, elevated debt vulnerabilities. Ill-timed tax cuts in 2019 further eroded weak fiscal buffers and led to a rapid growth in debt to unsustainable levels. As Sri Lanka lost access to international financial markets in 2020 and official reserves dropped precipitously thereafter, the forex liquidity constraint ultimately led to severe shortages of essential goods in 2022. The country announced an external debt service suspension in April 2022, pending debt restructuring. Amid the crisis, half a million jobs were lost, food insecurity and malnutrition increased, poverty doubled, and inequality widened.

The government is implementing structural reforms to regain macroeconomic stability and a sustainable growth path, including cost-reflective utility pricing, revenue-enhancing measures, and trade, investment, state-owned enterprise, and social protection reforms. Key legislation is being enacted on monetary policy, debt, and public financial management. In March 2023, the IMF approved a 48-month Extended Fund Facility of approximately US$3 billion to support the government’s reform program, which was followed by budget support from development partners, including the World Bank. Debt restructuring discussions with external creditors are ongoing. The Parliament approved a domestic debt restructuring strategy in July 2023, which excluded financial sector held government securities issued under domestic law.

Growth prospects depend on progress with debt restructuring and the implementation of growth-enhancing structural reforms. Inflation is projected to stay in single digits amid weak demand, as monetization of fiscal deficits wanes. Further, monetary loosening and exchange rate pressures could counter this trend. Poverty is projected to increase in 2023 before declining over the medium term, in line with the slow recovery. Despite the removal of import restrictions, the current account deficit is expected to narrow further in 2023, due to continued liquidity constraints, and remain benign thereafter with the recovery in tourism and remittances. Although the primary deficit is expected to decline in 2023, the overall balance will remain high due to the large interest bill. Debt restructuring and a revenue-based fiscal consolidation are projected to reduce the overall balance in the medium-term. While recent macroeconomic performance has been better than expected, downside risks remain high, given a narrow path to recovery and limited buffers. A prolonged or insufficiently deep external debt restructuring, a deterioration in the political situation (including a backlash to the reforms), inadequate domestic revenue mobilization, limited external financing support, a sharper global slowdown, and a prolonged recovery from the scarring effects of the crisis are key risks to restoring stability, regaining a sustainable growth path, and bringing Sri Lanka back to precrisis rates of poverty. The financial sector needs continuous monitoring, given high exposures to the public sector, rising nonperforming assets, and tight liquidity conditions.

The necessary macroeconomic adjustments may initially adversely affect growth, poverty, and inequality, but will correct overall imbalances, help regain access to international financial markets, and build the foundation for sustainable growth. Mitigating the impacts on the poor and vulnerable remains critical during the adjustment.

Last Updated: Oct 03, 2023