Will president Dissanayake’s economic vision get backing in Sri Lanka’s snap election? - Video

The Marxist-leaning president, who was elected in September, called the early election after finding his National People's Power (NPP) coalition held just three out of 225 seats in the current parliament. 

Dissolving the legislature, Dissanayake is now hoping for a favourable shift that would enable his government to implement reforms aimed at stabilising the island’s struggling economy.

Dissanayake’s economic vision includes pursuing austerity measures initially introduced by his right-wing predecessor Ranil Wickremesinghe, which has stirred mixed opinions among Sri Lankans. "I think the president's party, the NPP, will emerge victorious," said Imran Furkan, an analyst from Australia-based geopolitical risk firm Tresync. He believes Dissanayake will have the opportunity to implement his reform plans, despite the potential unpopularity of some economic measures.

The upcoming election is seen as critical by various sectors, particularly tourism and business. Anura Lokuhetty, the former president of The Hotels Association of Sri Lanka (THASL), expressed hope for a stable political climate. “As a businessman in the leisure sector… tourism plays a very vital role in Sri Lanka's economy. Therefore, a peaceful environment that is conducive to carrying out any business is what we anticipate from the election,” he told AFP.

The outcome of this election will determine the legislative backing for Dissanayake's economic reform agenda and set the course for Sri Lanka's recovery amidst significant financial challenges.