Key Figures

Chief of State:
President Ranil Wickremesinghe
Head of Government:
President Ranil Wickremesinghe


Government Name:
Democratic Socialist Republic of Sri Lanka
Adopted: 1978; Provided for a unicameral parliament and executive President. Term limits for both parliament and the president are set as well and a new form of multi-member proportional representation was introduced for elections to parliament. In addition, the judiciary is established as independent and the basic fundamental rights of the Sri Lankan people are defined.
Government Type:
Presidential Republic
Democratic Socialist Republic of Sri Lanka Flag
Coat of Arms of Democratic Socialist Republic of Sri Lanka

Index of Economic Freedom

Grades each country on a scale of 0 to 100, based on ten freedoms, with 100 representing the greatest amount of economic autonomy from government intervention. Source: Heritage Foundation (2023)

Country Risk Rating

A high-risk political and economic situation and an often very difficult business environment can have a very significant impact on corporate payment behavior. Corporate default probability is very high. Source: Coface (2022)

Government Branches

Main Powers Election Process Election Cycle 1

Head of state, head of government, commander in chief of the armed forces, responsible to Parliament for the exercise of duties under the constitution and laws.

President is elected through a contingent vote system.

6 years


Court has ultimate appellate jurisdiction in constitutional matters, and take precedence over all lower courts.

Appointed by president.

Mandatory retirement age of 65


Reserves the power to make all laws.

Parliament members are elected by open list proportional representation in multi-member constituencies.

6 years

Regional Trade Blocs

International Organization Participation [2]

Environmental Agreements [3]

Tax Information [2]

Tax Authority:
Information not available
Tax Name:
Information not available


  1. ElectionGuide
  2. EY,
  3. CIA World Factbook,
  4. U.S. Bilateral Relations Fact Sheets