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Searched Tag: economic strain

The report says in 2022, the cost of tax exemptions reached as high as 56 per cent of the government revenue

Flawed tax policies led to Sri Lanka’s economic meltdown: Report

October 17, 2025, 07:58 PM - 2 min read

A non-profit human rights watch group has released a 101-page report on the reasons for the 2022 economic crisis that gripped the island nation of Sri Lanka, saying governments there had historically adopted policies that resulted in inadequate revenues

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Spain rejects NATO’s 5% defence target, cites economic strain

June 20, 2025, 01:29 PM - 3 min read

Spain has declined NATO’s proposal to raise defence spending to 5 per cent of GDP, warning it would undermine European sovereignty and harm domestic economic priorities. Prime Minister Pedro Sánchez called the target “unreasonable” and asked for an exemption ahead of next week’s summit.

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