Sri Lanka bourse gains 0.56-pct amid 2027 budget speech

Newswire reports that President Anura Kumara Dissanayake began presenting the 2027 budget in Parliament on November 12. EconomyNext reports that the Colombo stock market closed higher during the speech: the All Share Price Index gained 124.47 points, or 0.56%, to 22,157.40, while the S&P SL20 rose 0.26% to 6,365.57. Turnover was 2.97 billion rupees.

EconomyNext reports that Sri Lanka Telecom, Distilleries and Dialog were among the strongest positive contributors to the ASPI, while Ceylon Cold Stores, PGP Glas and Softlogic Capital were among the largest negative contributors. It also reports that the budget provides a five-year tax break for telecommunications tower construction and cash grants intended to widen coverage in rural areas.

EconomyNext reports that the budget is anchored by a record 2 trillion rupees in public capital expenditure and includes concessions and subsidies to encourage installation of solar power battery-storage systems. Newswire reports proposals including 77 billion rupees for clean drinking water and sanitation, with private investment also under consideration, and 70,000 houses under a housing programme, including 10,000 planned for 2027. The reported housing assistance per home would rise from 1 million to 1.5 million rupees.

It also reports 9.5 billion rupees for digitising Sri Lanka Police operations, 500 million rupees for planning a modern Criminal Investigation Department building, and 200 million rupees for feasibility work on a police administrative building. Other proposals include a technology-equipped police uniform from June 2027 and a 250 million-rupee Defence Development Research Centre.