Business Expectations in the Industrial Sector Up Significantly, IOBE Report
Business expectations in the industrial sector have improved significantly in the last two years, the Foundation for Economic and Industrial Research (IOBE) said in a report released on Monday.
IOBE attributed this development to better conditions prevailing in 2017 compared with 2016 and in 2015, when uncertainty over economic outlook and the imposition of capital controls negatively affected businesses in all economic sectors.
The report showed a gradual lifting of political and economic uncertainty domestically and an improvement in external demand that have positively affected domestic industry. It noted, however, that a high tax burden and poor funding from the banking sector are negatively affecting the business environment, but stressed that these factors have been offset significantly by the market.