KARACHI: Despite the positive trends, the overall confidence of the business community remains low due to persistent economic crises in 2022
A recent survey conducted by Gallup Pakistan indicates a 42% increase in business owners’ confidence regarding prospects, compared to the preceding quarter.
The Gallup Business Confidence Index report for the third quarter of 2023 reveals that fewer business owners hold pessimistic views about future conditions and the country’s direction compared to the second quarter.
While a sense of business insecurity persists due to ongoing economic and political crises, the survey notes a more positive outlook among businesses regarding their future.
Concerns such as inflation, utility bills, and political instability continue to contribute to business uncertainty, although fewer businesses express hopelessness than in the previous quarter.
Surprisingly, businesses demonstrate optimism in their expectations for future conditions, with 61% expressing positive outlooks and 38% anticipating a worsening situation. The net future business confidence score has improved by 42% since the spring, reaching 22%.
Perceptions about the country’s direction have also shown improvement over the last two quarters, with 26% of respondents expressing the belief that Pakistan is heading in the right direction.
Despite these positive trends, the overall confidence of the business community remains low due to persistent economic crises in 2022.
Economic insecurity in the country has worsened since the beginning of the year, but the business situation score has improved by 25 percentage points, according to the survey.
