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Overall business confidence in Bangladesh for the January-March quarter this year has declined compared to the 2021 October-December quarter, reflecting businesses’ growing concern about the advent of the Omicron variant, according to a latest study by the South Asian Network on Economic Modeling (SANEM). Most of the sectors have expressed lesser confidence for the next quarter as well, it reveals.
However, the present business status index (PBSI) is approaching the mark of 60 in the October-December 2021 quarter from 56.79 in the earlier quarter, indicating a continuation of improvement, the survey results showed.
Considerable improvement has been observed in the profitability and sales or export order sub-indicators, it found.
Business confidence in Bangladesh for the January-March quarter has declined compared to the 2021 October-December quarter, reflecting businesses’ growing concern about the Omicron variant, according to a latest study by the South Asian Network on Economic Modeling. Most of the sectors have expressed lesser confidence for the next quarter as well.
At a recent webinar where the survey results were released, Selim Raihan, professor, department of economics, University of Dhaka and SANEM executive director, stressed on the faster disbursement of the stimulus packages, easing access to stimulus packages and government support focusing on specific requirements of firms.
The survey recommended developing a sector-specific protocol for managing the situation, accelerating the vaccination programme and considering pragmatic stringent policies.
SANEM has been conducting this survey since July 2020. Under the latest (seventh) round of the survey, a total of 502 firms were surveyed from January 3 to 24 this year.
Large firms (57 per cent) and exporter firms (56 per cent) have higher business confidence (BCI) compared to the micro, small and medium firms (54-55 per cent) and non-exporter firms (54 per cent) respectively, they survey found.
Fibre2Fashion News Desk (DS)
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