Economic outlook continues to be bleak – Survey

Saturday, 7 October 2023 00:54 - - {{hitsCtrl.values.hits}}

Business magazine LMD reports, in its October edition: “Perceptions about Sri Lanka’s economic climate continue to be under a cloud.”

“Despite the fact that many of Sri Lanka’s key economic indicators continue to improve – albeit gradually – perceptions in the nation’s corridors of business remain muted at best.”

The magazine reports that “the percentage of business executives that believe the national economy will improve in the next 12 months increased by 4% to 17% in September. Six months ago however, slightly over a third (34%) expressed confidence about the economic outlook.”

Less than a quarter (21%) expect the economy to remain the same (from 25% in August) while a pool of 62% polled that it would get worse – similar to the figure recorded in the preceding month, it notes.

A spokesperson for LMD also states: “One in three of those polled expects sales volumes in the next 12 months to get better, as was the case in August. But over a quarter feel that the numbers will remain the same, which is higher than the 22% recorded in August.”

LMD’s publisher, Media Services, says the latest edition of the magazine has been released. Its digital edition has also been shared on WhatsApp and the publisher’s social media platforms.

The magazine’s cover story presents a study of Sri Lanka’s FDI landscape, including an exclusive interview with the Governor of the Central Bank who affirms that interest rates are set to come down further in the near term.

The full story has been uploaded on LMD’s website (www.LMD.lk).