• The contemporary social, political, economic and cultural changes takes place domestically and globally affects a country’s economy.
• These contemporary economic events are mainly categorized as domestic and global.

 Global contemporary Economic events 

• Global contemporary economic events affect Sri Lankan economy in favourable and unfavouarable way and it can be explained with an example below:
  • Increase in prices of crude oil in foreign market affected Sri Lankan economy in an unfavourable way by increasing prices here.

Domestic contemporary Economic events 

• Domestic contemporary economic events affect Sri Lankan economy in favourable and unfavouarable way and it can be explained with an example below:
  • Tsunami disaster affected development of Sri Lankan economy in an unfavourable way by destroying of infrastructure, industries, human lives and property in coastal areas.