Bangladesh lowers cash incentive for exporters to prepare for post-LDC era
The government has cut the export subsidy for almost all sectors to reduce the pressures on Bangladesh's coffers and bring down the rates gradually
No time to waste as new finance minister inherits wobbly economy
The economy is losing momentum. Inflation remains stubborn. Bangladesh is facing deterioration in external buffers, with official reserves falling to $20.18 billion as of January 10, less than half their historic peak in 2021. The currency shock is lingering.
With election over, economy to take centre stage in 2024
The economy now can take the centre stage with the elections finally done for
Financial account deficit swells as outflows intensify
Central bank data highlights continuing financial account deficit in the face of international currency outflow
Can Bangladesh put economy back on track in 2024?
The present government started its journey at a time when the global economic environment was conducive to growth and low inflation. Food prices had stabilised after the global food crisis of 2007-08. Interest rates were lowered globally in response to the global economic crisis of 2008.
Inflation shock: A weaker taka accounts for half of it
The pass-through of a sharp depreciation of the local currency accounted for half of the inflation surge seen in Bangladesh in the last financial year, according to the International Monetary Fund (IMF)
Relaxed incentive rules send remittance to a four-month high
Migrant workers sent home $1.98 billion in October, a four-month high, as banks stepped up efforts to woo more remittance buoyed by a relaxed central bank rule on incentive, a development that is expected to give some relief to a country reeling under the foreign exchange crisis.
Pain deepens as food inflation stays above 12%
Food inflation in Bangladesh stayed above 12 percent for the second consecutive month in September as prices showed no signs of cooling down, hitting the pockets of the consumers who spend most of their incomes to feed their families.
July 20, 2023
Formal remittance outflow stood at $137m in 2022
Foreigners working in Bangladesh sent home $137 million in 2022, World Bank data showed although analysts believe the exact figure would be much higher since many people from other nations are employed in the country without valid permits.
July 12, 2023
Channel more financing to SMEs
At least half of all credits disbursed by banks and other financial institutions in Bangladesh should go to small and medium enterprises (SMEs) since a significant of them still don’t have access to the formal credit system despite recent improvements, said a noted economist.
July 4, 2023
Inflation climbs to 12-year high
Average inflation in Bangladesh surpassed the government’s target for the just-concluded fiscal year by a large margin as higher prices of goods and services continue to linger for the economic crisis at home and abroad.
July 3, 2023
New fiscal year, old challenges
When a year passes, those who had a good time look forward to continuing the momentum while those who had struggled to keep their head above water might breathe a sigh of relief.
June 27, 2023
Remittance rebounds
Remittance rebounded in Bangladesh in the outgoing financial year, extending some breathing space to an economy struggling to keep its head above water amid the lingering crisis at home and abroad.
June 20, 2023
Inflationary pains for common people to persist
Like in the outgoing financial year, the common people in Bangladesh will continue to suffer from higher consumer prices in 2023-24 as the factors behind the elevated level of inflation are unlikely to change dramatically.
June 9, 2023
Imports keep falling amid lingering dollar crisis
Bangladesh’s imports dropped 14.40 per cent year-on-year to $58.78 billion in July-April of the ongoing financial year, which might be seen as a relief for the volatile foreign exchange regime but it could also deal a blow to the economy, official figures showed yesterday.
June 3, 2023
High Inflation: Worrying but under control
Finance Minister AHM Mustafa Kamal yesterday said that though he is worried about the elevated level of consumer prices, the situation is still under the government’s control.
June 2, 2023
No remedy for default loans, forex crisis
Though higher default loans and declining foreign currency reserves have been identified as the biggest risks to the economy of Bangladesh in recent times, Finance Minister AHM Mustafa Kamal yesterday fell short of coming up with any definitive measure to address the twin issues save offering some words of hope.
June 2, 2023
Universal pension scheme to be rolled out in FY24
The government plans to roll out the universal pension scheme in the next fiscal year.
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