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WorldPosted at: Oct 20 2022 12:04PM


Huge blow to SL biz if crisis deepens

Colombo, Oct 20 (UNI) The prevailing economic crisis could deal a severe blow to many Sri Lankan business sectors if it deepens or drags for a prolonged period, Fitch Ratings said in remarks published on Thursday.
This is because runaway inflation, elevated interest rates and import restrictions have already pressured their revenues, margins, profits and cash flows, the Daily Mirror quoted Fitch Ratings as saying.
In a brief commentary on the implications the economic crisis would have on Sri Lanka’s listed companies, the rating agency identified consumer goods retail, power generation and home building among the most affected sectors from a prolonged crisis.
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