Echelon Magazine - January 2024

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We Must Choose
Best wishes for 2024. May you find peace, strength and resolve.
As citizens, we have a role in spearheading the economic revival of Sri Lanka. Despite the World Bank revealing a concerning decline in our GDP growth rates since 2010, with significant contractions in recent years exacerbated by the pandemic and ongoing economic crises, the path forward is clear. These challenges, stemming from decades of misguided policies, call for our collective determined, stoic resolve.
The recent efforts, some unpopular, to rejuvenate the economy are commendable but are just the initial steps in a long arduous journey. It would be best to brace for more tough but essential reforms to dismantle the legacy of populist policies.
Complain about taxes, by all means. The estimated tax revenue for 2024 is Rs3.8 trillion. Recurrent expenditure is Rs5.3 trillion, with public sector wages at Rs1.1 trillion, debt servicing at Rs2.6 trillion, and subsidy transfers at Rs1.2 trillion.
These numbers suggest that we are not mere victims of circumstance. We are active participants in what befalls our economy, as Dr W A Wijewardena argues in this issue, and how the current deficit is bridged will depend on which election promises attract us.
What would you cut? Taxes? Public sector wages or subsidies?
Dr Wijewardena provides insight into this in the Investor's Guide 2024, discussing the potential economic implications of the 2024 elections. Beware of promises of quick relief, handouts and concessions, increments and spending that would require more borrowings that could heave us back to the dark ages of two years ago.

Echelon Magazine Description:

Intelligent Storytelling

The one thing that will define the Echelon magazine will be the quality of the storytelling. Echelon,published monthly, will cover in depth Sri Lanka’s most successful businesses, examine their winning strategiesand profile their leaders in immersive stories. Great stories are also never limited to words, and our approach includes rich photography, bold graphics and leading edge design which together will make for a compelling read.

But business doesn’t start and end in a boardroom;it extends to the golf club greens, to international travel and to pursuits that blurthe lines between commercial venture and sheer passion. The Echelon team will present the best in business and lifestyle coverage that will appeal to an exclusive and affluent readership: an otherwise hard to reach demographic.

Content will be developed by one of the most experienced and proven teams of editors, financial journalists, photographers and designers in the country.This team has already raised the bar for powerful and expertly crafted business news. Shamindra Kulamannage, will lead the editorial team.

The reputation of Echelon is being built on the separation between editorial and advertising. However we are also looking for the most creative and impactful new formats that can be applied in our magazines, iPad app as well as website to help our clients reach our audience. We are flexible and creative and we will have a solution for every single advertiser who wants to reach our audience.

We are passionate about creative results and about working with our advertisers to help them create bespoke multi platform creative solutions with our in house creative team and of course our sales team.

Echelon will be a great place to show off the products and capabilities of our clients because they will be surrounded by an editorial product that is expertly crafted, full of integrity and intelligence.