Colombo, October 3, 2024 – The ongoing conflict in the Middle East is likely to have serious repercussions for Sri Lanka’s economy, warns international information analyst Mr. Mohan Samaranayake. He highlights that the ramifications could be particularly severe if the situation escalates.
Samaranayake stated, “The greatest concern is the potential impact on our economy. Should tensions rise further, particularly with threats of a large-scale attack by Israel on Iran, Sri Lanka could find itself in a precarious position.”
One of the critical areas of concern is the fluctuation of crude oil prices in the global market. “A spike in crude oil prices will have a direct and immediate effect on Sri Lanka,” he explained. “Given our current economic crisis, absorbing additional financial burdens will be exceedingly challenging.”
The analyst also noted that the ongoing conflict is already affecting Sri Lanka’s import and export markets. “We are witnessing disruptions that could lead to shortages and increased prices for essential goods. The longer this conflict persists, the more detrimental the effects will be on our economy.”
As Sri Lanka continues to grapple with its economic challenges, the potential for external factors, such as the Middle East conflict, to exacerbate the situation remains a pressing concern for policymakers and citizens alike.
