Short-term business prospects also appear grim as 46% of poll participants expect their sales volumes to decline over the next three months (compared to 39% in September).
An executive explains that “the depreciation of the rupee has impacted many establishments that rely on the import of raw materials and goods for their operations.”
As for the investment climate, a notable majority (69%) of those consulted consider it to be ‘poor’ or worse in contrast to a mere five percent of respondents who view it as ‘good’ or better, LMD reports.
“It is important that the Government safeguards investments that are currently taking place as well as builds trust among potential investors,” asserts one businessperson.
Media Services, the publisher of the pioneering business magazine, says the November edition of the magazine has been released to leading supermarkets and bookstores in Colombo and the outstations.