Inflation and the economy remain the primary concerns for businesspeople

While inflation remains the foremost burning issue for business, there has been a notable decrease in its impact with only 43 percent of surveyed executives saying so in May compared to two-thirds (66%) in the preceding month.

In the latest LMD-PEPPERCUBE Business Confidence Index (BCI) survey, interest rates surged in relative importance, surpassing high taxes as a major concern for 39 percent of respondents (April – 38%). According to the exclusive survey conducted in the first week of May, political interference climbed to third place on the anxiety scale with 34 percent expressing concern – i.e. a five point increase from the previous month.

Political instability emerged as the fourth concern among three in 10 (30%) respondents. Furthermore, high taxes – which remained a top concern for many months – dropped to fifth place with 27 percent of participants apprehensive about the tax burden and its implications.

On a national scale, the economy remains the foremost concern among 67 percent of respondents, reflecting a marginal decrease of two percentage points from April.

Perhaps in view of the election season, concern regarding the political culture surpassed that of the cost of living among businesspeople with an increase of eight percentage points (to 59%) in May.

The cost of living – which stood at 57 percent in April – experienced a steep decline in May, shedding 19 points to 38 percent. Meanwhile, bribery and corruption ranks fourth at 26 percent, reflecting a five point increase.

Additionally, the spectre of ‘ethnic issues’ appears on the radar of burning issues with more than a fifth (21%) of respondents expressing concern about their reemergence as a national issue.