As Sri Lanka enters a new phase of economic transformation, the KPMG Budget Analysis 2026 offered a first-look analysis of the national budget presented by His Excellency the President. This event served as a critical platform for understanding the fiscal policies designed to stabilize the nation while sparking a new era of development.
Centered on the theme "Reviving Growth, Rebuilding Trust," the session provided an immediate, expert-led breakdown of the budget proposals as they unfolded in Parliament, focusing on governance, transparency, and the roadmap to economic normalcy.
Key Highlights
Fiscal Discipline: A deep dive into the 5.2% budget deficit target and the strategic allocation of revenue for debt servicing and national growth.
Taxation Evolution: Understanding the shift toward a 40:60 direct-to-indirect tax ratio and the digitalization of tax administration to minimize leakages.
Empowering SMEs: A major focus on reorganizing institutions under the Industrial Development Board to provide a unified support system for small businesses.
Energy Transformation: Analyzing the ambitious 2030 target of achieving 70% energy generation from renewable sources.
Governance-Linked Budgeting: How the 2026 proposals align with international standards and IMF requirements to rebuild global investor confidence.
Insight Sessions & Panelists
Presenter
Rifka Ziyard – Principal - Tax & Regulatory, KPMG in Sri Lanka
Session 1: Sri Lanka’s Economic Reset
This session explored the fundamental shifts required to stabilize the macro-economy and set the stage for long-term growth.
Dr. Indrajit Coomaraswamy – Former Governor of the Central Bank of Sri Lanka
Revan Wickramasuriya – Director General of the Colombo Port City Economic Commission
Hasith Prematillake – Managing Director of Western Regions Greatest Companies and Rayhan Electronics (Private) Limited
Moderator: Suren Rajakarier – Partner, Chief Operating Officer, KPMG in Sri Lanka
Session 2: Revenue, Reform & Resilience
A deep dive into fiscal policies, tax administration, and the reforms necessary to build a resilient revenue stream for the nation.
Aboobacker Nafeel – Senior Commissioner (Metro Unit), Inland Revenue Department
Dhananath Fernando – Chief Executive Officer of Advocata Institute
Hasitha Radella – Partner - Tax & Regulatory, KPMG in Sri Lanka
Rifka Ziyard – Principal - Tax & Regulatory, KPMG in Sri Lanka
Moderator: Suresh R. I. Perera – Principal - Head of Tax & Regulatory, KPMG in Sri Lanka
Session 3: Digital Economy & Financial Services
Focused on the modernization of financial systems and the role of digital transformation in driving the future economy.
Damith Pallewatte – Managing Director and Chief Executive Officer of Nations Trust Bank PLC
Channa de Silva – Chief Executive Officer of LankaPay (Private) Limited
Bingumal Thewarathanthri – Vice Chairman of The Ceylon Chamber of Commerce and CEO of Standard Chartered Bank Sri Lanka
Moderator: Suren Rajakarier – Partner, Chief Operating Officer, KPMG in Sri Lanka
Expert Publications & Reports
Snapshot - Budget 2026
The ‘Snapshot - Budget 2026’ provides a high-level summary of the critical fiscal targets and immediate policy shifts presented in the national budget for the year 2026.
Key Budget Insights - 2026
The ‘Key Budget Insights - 2026’ offers an expert, in-depth analysis of the government’s 2026 proposals, exploring the strategic themes of reviving growth and rebuilding trust.
Watch the Full Events Highlights
Stay informed on the policies and perspectives that will define the coming year. Gain a comprehensive understanding of Sri Lanka’s economic journey by watching the full session.
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