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.
The government has set a target to collect Tk 433,000 crore as revenue in the upcoming 2022-23 fiscal year.
The overall budget deficit for the fiscal year 2022-23 will be Tk 245,064 crore, or 5.5 percent of GDP, said Finance Minister AHM Mustafa Kamal in his budget speech today.
Finance Minister AHM Mustafa Kamal unveiled a proposed budget of Tk 678,064 crore for 2022-23 fiscal year in the national parliament today.
Natural calamities, including the recent flash floods in haor areas caused by heavy rain amid cyclone Ashani, have damaged the production of 78,987 tonnes of boro rise this season, according to the Department of Agricultural Extension (DAE).
Yusuf Ali, a mango grower in Chapainawabganj, did not benefit much despite having an ample yield last year as the price of the popular fruit was unusually low due to the lockdown-induced disruption.
The government is struggling to fulfil the target of wheat procurement from the domestic market this season as growers are not showing interest to sell the food grain to the state at a lower price.
Many of you, who know about the cultivation of soybean in Bangladesh, might think that the production of the oilseed contributes to meeting the country’s demand for edible oil to some extent.
In spite of the government fixing edible oil prices recently, the prices of loose soybean oil and palm oil have gone up at both retail and wholesale markets due to a supply crisis.
The prices of edible oil have gone up at the wholesale level yesterday despite the 30 percent tax exemption at the import and production stages.
Consumers in Bangladesh who are already struggling to make ends meet following the recent rise in prices of various daily essentials are now being compelled to spend more on eggs and broiler chicken meat, the low-cost sources of protein.
