CAL and AFC executives urge fiscal reforms in Sri Lanka's upcoming budget
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At a media briefing on 3 November 2026, Capital Alliance Holdings and Asia Frontier Capital executives said Sri Lanka's economy is well placed for a frontier market revival if fiscal discipline continues.
CAL Group CEO Kanishke Mannakkara urged the upcoming budget to maintain a healthy primary surplus, contain the fiscal deficit, and shift spending to capital investment. He also suggested moderating taxes to attract private investors.
AFC Fund Manager Ruchir Desai noted Sri Lankan equities fell approximately 17% in US dollar terms in 2026. However, he called the sell-off overdone, attributing current headwinds primarily to Middle East geopolitical tensions.
