Sri Lanka’s Presidents and Economic Performance (1978–2025)
| President | Years in Office | Economic Strategy | Avg. GDP Growth (%) | Inflation (avg %) | Public Debt (% of GDP) | Key Economic Events / Policies |
|---|---|---|---|---|---|---|
| J.R. Jayewardene | 1978–1989 | Liberalization & open economy | 6.0 | 11 | 70 | Opened economy; Free Trade Zones; Mahaweli Development; initial IMF reforms; start of civil war (1983). |
| R. Premadasa | 1989–1993 | Pro-poor growth & populism | 5.3 | 14 | 80 | Poverty alleviation programs; housing schemes; rising fiscal pressure. |
| D.B. Wijetunga | 1993–1994 | Fiscal restraint & stability | 5.6 | 9 | 75 | Economic stability restored after political unrest; low investment period. |
| Chandrika Bandaranaike Kumaratunga | 1994–2005 | Mixed economy, welfare focus | 4.3 | 8–9 | 90 | Partial privatizations; welfare expansion; civil conflict intensified; droughts hurt agriculture. |
| Mahinda Rajapaksa | 2005–2015 | Post-war infrastructure push | 6.2 | 6–7 | 79 → 83 | End of civil war (2009); heavy Chinese borrowing; highways, ports, tourism boom; fiscal deficits widened. |
| Maithripala Sirisena | 2015–2019 | Reform & consolidation | 3.7 | 5 | 84 | IMF program (2016); tax reforms; slow growth; political instability. |
| Gotabaya Rajapaksa | 2019–2022 | Tax cuts & crisis | –5.5 | 25–70 | 93 → 120 | 2019 tax cuts; COVID-19 collapse; forex crisis; April 2022 default. |
| Ranil Wickremesinghe | 2022–present | IMF stabilization & reforms | 3.5 (proj) | 3–4 | 100 → 109 | IMF EFF (2023); fiscal consolidation; debt restructuring; stabilization phase. |
Here are three charts illustrating Sri Lanka’s economic performance under each president:
- Average GDP Growth by President (1978–2025) – shows economic expansion or contraction by leadership period.
- Inflation and Debt-to-GDP Comparison – visualizes fiscal and price stability challenges.
- Economic Timeline (Growth, Inflation, Debt) – a multi-indicator trend showing policy shifts and outcomes over time.