Integrating Social Protection and Economic Inclusion with Management of Sri Lanka’s Coastal Fisheries

Investment Rating - The report does not explicitly provide an investment rating for the coastal fisheries sector in Sri Lanka. Core Insights - Sri Lanka's coastal fisheries are crucial for livelihoods, food, and nutrition, contributing approximately 1.2 percent to the GDP in 2022 and providing employment to around 586,000 people, with 54 percent directly involved in fishing [5][6][10] - Coastal fish stocks are declining, failing to meet domestic demand, which negatively impacts livelihoods [7][11] - The report emphasizes the need for integrating Social Protection and Jobs (SPJ) policies with fisheries management to support fishers during stock rebuilding efforts and enhance long-term sustainability [11][29] Summary by Sections Introduction - Coastal fisheries are vital to Sri Lanka's economy and culture, with significant contributions to nutrition and employment [5][6] - The fisheries sector's contribution to GDP and employment statistics highlight its importance [5][6] - The report identifies the challenges faced by the sector, including declining fish stocks and increased fishing efforts due to poor management [7][11] Data and Methods - The study utilized a literature review and socioeconomic survey data to analyze the SPJ policies and their adequacy in the fisheries sector [30][31] - The survey focused on households in Tissamaharama, collecting data on demographics, economic activities, and aspirations [32][34] Main Findings - Sri Lanka spends 2.5 to 3 percent of total public expenditure on social assistance, with only 30 percent of the population benefiting from such programs [34][35] - The assistance provided does not adequately reach the poorest segments of society, highlighting inefficiencies in the social protection system [34][35] - The report discusses the need for improved governance and coherence in SPJ policies to better support the fisheries sector [11][18]