Sri Lanka’s sentiments surrounding economy continue to remain positive: report

Sri Lanka’s sentiments surrounding economy continue to remain positive: report

Sentiment surrounding the economy continued to remain positive in July with 44 percent of participants in the latest LMD-Nielsen Business Confidence Index (BCI) survey stating that conditions ‘will improve’ in the next 12 months.

According to local media reports, the latest 44 percent recorded in the month of July is an increase from 42 percent in June.
Additionally, a quarter of respondents say the economy is likely to remain the same during this period while 31% believe conditions will deteriorate.
The Daily FT has reported that the outlook for business over the next 12 months remains unchanged from the previous month with 68 percent of those consulted by Nielsen expecting sales volumes to increase.

Meanwhile, 34 percent anticipate improvements in sales in the next three months – up from 27 percent in June.

According to the report, 43 percent of those polled had described the investment climate as ‘fair.’

OSL take:

The report stating a survey showing a positive trend in the country’s business sentiment is indicative of the economy’s resilience despite a two month lockdown owing to the Covid 19 global pandemic. The programmes targeting economic revival by the government of Sri Lanka has opened up many business opportunities in the country. Sri Lanka has already shown a growth in exports sector and has recommenced its development programme. Foreign businesses/investors could therefore explore business/investment opportunities in Sri Lanka. 

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Article Code : VBS/AT/20200910/Z_3

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