The central bank governor projects cooling the red-hot inflation, which has hovered above 9 percent since March last year, to 7 percent by June next year.
The Asian Development Bank (ADB) has become the first among multilateral and bilateral lenders to respond to the interim government's call for budgetary support, approving $600 million aimed at easing pressure on foreign exchange reserves and accelerating economic recovery.
Bangladesh’s national budget for fiscal year 2024-25 is likely to be reduced by more than Tk 50,000 crore, with the entire cut expected to be made in funds meant for the annual development programme (ADP).
Bangladesh, mired in data fog, has “sleepwalked” into the middle-income trap according to the white paper on the state of the country’s economy.
Distressed assets in the banking sector have reached a whooping Tk 6,75,030 crore, an amount bigger than the cost of building 22 bridges across the Padma or 13.5 metro rail systems in Dhaka, according to a White Paper released yesterday.
Despite rising interest rates on deposits and various efforts by the central bank, Bangladesh’s banking sector continues to face a liquidity crisis that has hamstrung some lenders.
Moody’s has downgraded Bangladesh’s banking sector to “very weak” from “weak”, citing worsening client confidence, limited transparency and inadequate financial safeguards over the past year.
When most non-bank financial institutions (NBFIs) in Bangladesh are in hot water with high ratios of non-performing loan (NPL), a handful have been successfully able to keep the rate low.
Non-food expenditure of households has increased in Bangladesh in the past six years compared to expenses aimed at food purchases, data from the Bangladesh Bureau of Statistics (BBS) showed.
The average monthly household income in Bangladesh rose to Tk 32,422 in 2022, up more than 102 per cent from six years ago, according to the latest data from the Bangladesh Bureau of Statistics (BBS).
The World Bank has found out that the exporters need around 300 hours to meet the border and documentary compliance requirements in Bangladesh, whereas the time comes down to 60 hours in India and 30 hours in China.
In term of brand value among the South Asian countries, Bangladesh stands second after India while the brand values of Pakistan, Sri Lanka and Nepal are respectively $232 billion, $48 billion and $29 billion
Dhaka division’s 4.19 crore people in 13 districts have stored in banks a total of Tk 9.79 lakh crore, around 85 per cent of which, or Tk 8.32 lakh crore, belong to the people living inside Dhaka district alone.
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The major challenges for Bangladesh will be keeping inflation under control while maintaining currency rate stability in the coming days, according to the Bangladesh Bank's annual report.
The current level of high inflation rate may persist throughout the ongoing fiscal year, according to a forecast of the Bangladesh Bank.
Bangladesh’s economic situation may worsen thanks to internal reasons mainly political crisis that will appear in the days to come rather than the external factors, said MM Akash, economics professor of Dhaka University.
Cash recycling machines (CRMs), set up by banks in Bangladesh to help clients deposit, withdraw and transfer money instantly, almost doubled in the last financial year.
