Women’s Chamber of Commerce and Industry hopes DDO will reduce interest rates

The Women’s Chamber of Industry and Commerce (WCIC) yesterday expressed hope that the Domestic Debt Optimisation framework that was approved by the Cabinet of Ministers will result in reduction of interest rates.

It said lower interest rates in turn will help businesses to access financing at a reasonable cost, resulting in increased contribution to our GDP.

“Growth in businesses will undoubtedly result in increased revenue to the Government and ensure sustainability of our sovereign debt,” said WCIC, the National Chamber for Women Entrepreneurs and Women in business assisting especially the SME and micro scale entrepreneurs to increase their contribution to the economy.

WCIC said it appreciates the role by President Ranil Wickremesinghe, Central Bank Governor Dr. Nandalal Weerasinghe, the Ministry of Finance and other relevant authorities in formulating the DDO framework considering the best possible solutions.

“We look forward to proactive engagement from all Government Institutions and financial institutions to support and assist businesses to increase their economic contribution to revive our economy,” WCIC added.