Feedback from a recent visit to more than 70 business houses in Georgetown by officials of the Georgetown Chamber of Commerce and Industry (GCCI) points to a significant decline in urban commercial activity, newly elected President of the Georgetown Chamber of Commerce and Industry (GCCI) Deodat Indar has told the Stabroek Business.
Blaming the sluggishness of the business climate largely on reduced liquidity and a decline in “walk-in customers” – partly the result of the situation that had arisen out of the parking meter fiasco, Indar said the feedback received from the business houses engaged by the Chamber officials points to a decline in trading that ranges from 30% to 60%,
The disclosure by the new Chamber president follows months of wider private sector insistence that there has been a significant slowdown in economic activity, though he conceded that there was a need to support the anecdotal evidence with reliable statistical information.