Sri Lanka election results 2024.

Polling has closed in Sri Lanka's presidential election, the first since mass protests ousted the country's leader in 2022.

Saturday’s vote is widely seen as a referendum on the economic reforms aimed at steering the country towards recovery after its worst financial crisis. However, many Sri Lankans are still struggling due to tax hikes and cuts to subsidies and welfare programs.

Analysts predict that economic issues will dominate voters' concerns, with the election shaping up to be a close contest.

Counting began with postal ballots at 5:00 p.m. local time (11:30 GMT), though results are not expected until Sunday morning.

“The country's spiraling inflation, rising cost of living, and widespread poverty have left voters desperate for solutions to stabilize prices and improve livelihoods,” Soumya Bhowmick, an associate fellow at the Observer Research Foundation, told the BBC.

“As Sri Lanka tries to emerge from its economic collapse, this election is crucial for shaping the country’s recovery path and restoring both domestic and international confidence in its governance.”

Current President Ranil Wickremesinghe, tasked with leading Sri Lanka out of its economic freefall, is running for another term. The 75-year-old was appointed by parliament a week after former President Gotabaya Rajapaksa was forced out of office.

Since taking office, Wickremesinghe has suppressed the remaining protest movements and has been accused of protecting the Rajapaksa family from legal accountability, a claim he denies.

One of his key challengers is leftist politician Anura Kumara Dissanayake, who has garnered increasing support with his anti-corruption platform.

This election has the most candidates in Sri Lanka's history, with over three dozen running. However, four dominate the headlines: Wickremesinghe, Dissanayake, opposition leader Sajith Premadasa, and Namal Rajapaksa, the 38-year-old nephew of the ousted president.

A Nation in Crisis

The “Aragalaya” (struggle) movement that toppled former President Gotabaya Rajapaksa was fueled by an economic meltdown. Years of low taxation, weak exports, policy missteps, and the COVID-19 pandemic drained the country’s foreign exchange reserves. Public debt soared past $83 billion, and inflation hit 70%.

While the elite were largely shielded from the crisis, everyday citizens faced severe shortages of essentials like food, cooking gas, and medicine, driving widespread unrest. Rajapaksa’s government was blamed, leading to months of protests demanding his resignation.

On July 13, 2022, in dramatic scenes broadcast globally, protesters stormed the presidential palace, swimming in the pool and looting the residence. Rajapaksa fled the country, staying in exile for 50 days.

In his place, interim President Wickremesinghe implemented strict austerity measures to stabilize the economy. Although the reforms have reduced inflation and strengthened the Sri Lankan rupee, ordinary citizens continue to feel the burden.

“Jobs are the hardest to come by,” says 32-year-old Yeshan Jayalath. “Even with an accounting degree, I can’t find permanent work.” Instead, he has taken on temporary jobs.

Many small businesses are also still suffering from the economic shock. Norbet Fernando, who had to shut down his roof tile factory in 2022, told the BBC that the costs of raw materials like clay, wood, and kerosene have tripled in the past two years. "After 35 years, it’s heartbreaking to see my factory in ruins," he said, noting that only 42 of the 800 tile factories in his area have remained operational since 2022.

Central bank data shows that demand for businesses has been low in 2022 and 2023, with some improvements in 2024, though still below pre-crisis levels.

“The Sri Lankan economy may have stabilized for now, but many citizens still need to be convinced that the price they’re paying is worth it,” said Alan Keenan, a senior consultant with the International Crisis Group (ICG).

The Key Candidates

Ranil Wickremesinghe: Having lost twice in previous presidential elections, this is his third attempt to be elected directly by Sri Lanka’s people, rather than by parliament.

Anura Kumara Dissanayake: A candidate from the leftist National People’s Party alliance, who is promising tough anti-corruption measures and good governance.

Sajith Premadasa: The leader of the opposition, representing the Samagi Jana Balawegaya party. His father served as Sri Lanka’s second executive president before being assassinated in 1993.

Namal Rajapaksa: The son of former President Mahinda Rajapaksa, who ruled from 2005 to 2015. Namal hails from a powerful political dynasty but will need to win over voters who hold his family responsible for the economic crisis.

How Does the Voting Process Work?

Sri Lankan voters select a single winner by ranking up to three candidates in order of preference.

If a candidate secures an absolute majority, they are declared the winner. If no candidate wins a majority, a second round of counting is triggered, where second and third-choice votes are considered.

No election in Sri Lanka has ever gone to a second round of counting, with a single candidate always emerging as the clear winner based on first-preference votes.

This year, however, things could be different.

“Opinion polls and initial campaigning suggest that, for the first time, we may see a winner who doesn’t secure a majority of votes,” said ICG's Keenan. “Candidates, party leaders, and election officials must be prepared to handle any disputes calmly and according to established procedures.”