Moving towards economic resurgence

Friday, 26 July 2019 00:00 - - {{hitsCtrl.values.hits}}

“Businesses playing a role in regaining and sustaining Sri Lanka’s economic resurgence is of great relevance, especially as the country is experiencing a feeling of uncertainty and challenges,” stated MAS Holdings Chairman Deshamanya Mahesh Amalean.

MAS Holdings Chairman Deshamanya Mahesh Amalean

Speaking about Sri Lanka’s current economic context at a panel discussion organised by the Ceylon Chamber of Commerce recently, he highlighted that the constitutional crisis which the country experienced last October and the Easter Sunday attacks, have together created confusion and lack of confidence about the country’s collective leadership.

“The detrimental impacts of the recent incidents are so visible, that the numbers speak for themselves. For instance, if we consider our GDP growth rate, at the beginning of the year it was projected to be around 4% for 2019. However, with these unfortunate incidents, the growth rate for Sri Lanka has been downgraded to be between the range of 2.5% to3%, the lowest for the past 18 years,” he said.

Clarity is power

What can be done to address these issues and how does one regain and sustain economic resurgence? For Amalean, the solution is simplicity itself: to have clarity, be focused and to never let negatives pull you down.

“As a business, what we have done is to look at the next two years to strengthen our core business. We need to build internal strength. I believe clarity gives us enormous strength, direction and focus in a challenging environment,” he added.