Economic recession: The effects on children and adolescents

Abstract

Introduction Sri Lanka is currently facing its worst economic recession in history. According to data from the Central Bank, the Inflation Rate in Sri Lanka has increased to 29.8% in April from 18.7% in March 20221. The rising costs, prolonged power cuts, and shortages in gas, as well as fuel, have led to a decline in wholesale and retail trade, food and beverages, health and education services. The services Purchasing Managers Index (PMI) in Sri Lanka had fallen to a 7-month low of 51.3 in March 20221. The Sri Lankan rupee has lost more than a third of its value since a flexible exchange policy was implemented by the Central Bank in March 20221. The resulting increase in prices affected the ability of citizens to meet their basic living expenses, leading to increasing food insecurity and a decline in welfare.