Selim Raihan
Dr Selim Raihan is professor, Department of Economics, University of Dhaka, Bangladesh, and executive director, South Asian Network on Economic Modeling (Sanem). Email: selim.raihan@econdu.ac.bd
Dr Selim Raihan is professor, Department of Economics, University of Dhaka, Bangladesh, and executive director, South Asian Network on Economic Modeling (Sanem). Email: selim.raihan@econdu.ac.bd
The persistent high inflationary pressures in Bangladesh over the last two years have heightened concerns regarding the erosion of food security among a large section of the population.
Urban poverty has seen a rise between the pre-Covid time and now, serving a debilitating blow to the food security of urban populace.
Despite moderate performance in several SDGs, Bangladesh faces major challenges in actually achieving them.
To overcome the economic crisis, no doubt, the country needs strong economic leadership, backed by strong political will.
Bangladesh is now in the depths of both economic and political crises.
There are some big concerns we must address given the possibility of the political tension permeating our economic domain.
The soaring food prices, coupled with falling real income, pose a serious challenge for the poor in terms of accessing adequate and nutritious food.
Inflation in Bangladesh has reached its highest level in a decade and has been a persistent problem for more than 18 months, starting from early last year.
Covid-19 deeply affected the labour market in Bangladesh. It intensified some of the existing challenges and brought about a new set of problems. A large number of people either lost employment or income and many are also experiencing intense job insecurity and uncertainty.
Academics, policymakers and other stakeholders in the Bay of Bengal region and beyond agree on the need for greater integration in this region.
Despite signs of recovery in the economy, there is no denying the fact that the impact of Covid-19 on the labour market can be far reaching.
The Covid-19 pandemic has resulted in an unprecedented rise in poverty in Bangladesh in a very short time span.
As the Covid-19 pandemic left a deep dent on the development trajectories of Bangladesh, the country must set its development priorities right in 2021. Bangladesh aims to achieve the stiff Sustainable Development Goals (SDGs) by 2030, and it aspires to become an upper-middle-income country by 2031.
Covid-19 has generated hugely distressing effects on the economy of Bangladesh.
Covid-19 has brought about an unprecedented crisis in human history in terms of its dimension and scale.
The Covid-19 induced economic crisis has affected the export and import of Bangladesh by large margins. The economic crisis has been exacerbated by the closure or limited operation of businesses during the lockdown at home and abroad.
The fundamental objective of the budget for the next financial year (FY21) should have been to resolve the unparalleled health and economic threats raised by the Covid-19 pandemic, and to restore economic stability. Though the budget has acknowledged the context, it falls short to be a Covid-19 responsive budget.
The economic crisis caused by Covid-19 is deepening in Bangladesh every day.