AKD's neo-liberal Budget 2026: Will it resolve slow growth issues quickly?

PRESIDENT Anura Kumara Dissanayake or AKD, in a marathon Budget speech taking more than four and a half hours to finish, presented his second Budget for 2026 in Parliament last week.[1]

- By W.A. Wijewardena

President and Finance Minister Anura Kumara Dissanayake presenting the 2026 Budget on Friday in Parliament

AKD, man of the Match

Though it is an exhausting exercise, throughout the Budget speech, there was the usual calm composure which he maintains when addressing the public countering the occasional catcalls of opposition members with well-articulated humour treating everyone with a savouring appetiser. It was a conventional Budget speech that talked about the achievement of his Government during its first year, strategic objectives of the Budget, macroeconomic outlook in the next few years, growth to be generated by the private sector participation and investments, growth drivers like tourism, modernisation and digitalisation, strengthening of research and development or R & D, Clean Sri Lanka program, Government services to different sectors, revenue proposals, and changes in Budgetary management systems.

The mission of his Government, according to AKD, has been to modernise the economic and political structure, create a people-centred governance, establish the rule of law and order, strengthen governance, and bring the economic achievements to the people living at the grassroot level. The last mission implying inclusiveness in wealth sharing is an important goal since the economic policy which his Government follows has been framed by IMF and other international donors, commonly known as neoliberal economic policies, is weak in inclusive economic growth.

Conversion of a hardcore leftist to neoliberalism