Sri Lankans are voting in their first presidential election since mass protests, triggered by the country’s most severe economic crisis, led to the ousting of the former president in 2022. Saturday’s election is widely seen as a referendum on the economic reforms that have been introduced in an effort to bring the country back from the brink of collapse.
Despite some signs of recovery, many citizens are still grappling with the impact of austerity measures, including tax hikes and cuts to subsidies and welfare. Economic concerns are expected to play a central role in shaping voter decisions in what is anticipated to be a closely contested election.
“The country’s soaring inflation, skyrocketing cost of living, and widespread poverty have left voters desperate for solutions to stabilize prices and improve livelihoods,” said Soumya Bhowmick, an associate fellow at the Observer Research Foundation, an India-based think tank, in a statement to the BBC.
“With the country seeking to emerge from its economic collapse, this election is crucial for shaping Sri Lanka’s recovery trajectory and restoring both domestic and international confidence in its governance.”
Key candidates in the race
Among the main contenders is incumbent President Ranil Wickremesinghe, 75, who was appointed by parliament following the ousting of former president Gotabaya Rajapaksa in 2022. Wickremesinghe has faced the daunting task of leading the country out of its economic crisis and is seeking a new term.
Wickremesinghe’s tenure has been marked by the suppression of the remaining protest movement, and he has been accused of shielding the powerful Rajapaksa family from prosecution—a claim he denies.
Challenging him is Anura Kumara Dissanayake, a leftist politician whose anti-corruption platform has been gaining public support. The leader of the opposition, Sajith Premadasa, and Namal Rajapaksa, the 38-year-old nephew of the ousted president, are also key candidates in the race. This election has seen more candidates running than any other in Sri Lanka’s history, though four dominate the spotlight.
Economic crisis still weighs heavy
The protests that unseated Gotabaya Rajapaksa, known as the “Aragalaya” (struggle) uprising, were ignited by an economic meltdown exacerbated by years of under-taxation, weak exports, and policy missteps, compounded by the COVID-19 pandemic. These factors led to a depletion of foreign exchange reserves, skyrocketing inflation that reached 70%, and a public debt exceeding $83 billion.
While the country’s political and social elite were relatively insulated from the fallout, the general population faced severe shortages of essential goods such as food, cooking gas, and medicine. The widespread hardship fueled months of protests, culminating in the dramatic ousting of Rajapaksa in July 2022.
In response, Wickremesinghe’s interim government implemented strict austerity measures aimed at stabilizing the economy. Although these reforms have brought down inflation and strengthened the Sri Lankan rupee, many citizens continue to feel the economic strain.
“Jobs are the hardest thing to find,” said 32-year-old Yeshan Jayalath. “Even with an accounting degree, I can’t find a permanent job.” Small businesses have also suffered, with many still struggling to recover from the crisis. Norbet Fernando, who had to close his roof tile factory in 2022, described how the cost of raw materials like clay, wood, and kerosene has tripled. Out of 800 tile factories in his area, only 42 remain operational.
Despite some improvements in 2024, business sentiment remains subdued compared to pre-crisis levels. “The Sri Lankan economy may for now have been put back on its feet, but many citizens still need to be convinced that the price is worth paying,” said Alan Keenan, senior consultant on Sri Lanka at the International Crisis Group (ICG).
A close election expected
This election marks Ranil Wickremesinghe’s third attempt to win the presidency through direct voting. His competitors include Anura Kumara Dissanayake of the National People’s Party, known for his anti-corruption stance, and Sajith Premadasa, leader of the Samagi Jana Balawegaya party, whose father served as Sri Lanka’s second executive president before being assassinated in 1993. Namal Rajapaksa, son of former president Mahinda Rajapaksa, also seeks to appeal to voters despite the association of his family with the country’s economic collapse.
Sri Lanka’s voting system allows voters to rank up to three candidates by preference. If no candidate secures an absolute majority, second- and third-preference votes are counted. Historically, elections have always produced clear winners in the first round, but this year, there is speculation that a second round of counting may be needed for the first time.
“Opinion polls and initial campaigning suggest the vote is likely, for the first time ever, to produce a winner who fails to gain a majority of votes,” said Mr. Keenan of the ICG. “Candidates, party leaders, and election officials should be prepared to handle any possible disputes calmly and according to established procedures.”
Polls will close at 4:00 p.m. local time (10:30 GMT), with results expected by Sunday morning.
