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US$ 70-80 Billion Needed

The CEO, NDB Investment Banking Cluster, Vajira Kulatilake – another speaker at the event – said that the debilitating factors facing the equities market are world conditions, macro and foreign policies and interest and exchange rate risks.
“The macro picture needs to be completed, otherwise it’s like a wedding with a bride but no groom,” he said.
Kulatilake further said that McKenzie Research in a recent report had said that there isn’t sufficient depth in the local market.
“We need US$ 70-80 billion in the next 10 years to achieve a 6-7% growth and not a 10% growth,” he said.
The capital market has to be vibrant and the debt market needs to be developed, said Kulatilake.
“But we have large budget deficits and the ratings are not that good for foreigners to come in with big quantities,” he said.

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