Bangladesh sits at the bottom of a list of 37 countries in the Asia-Pacific region in terms of the tax-to-GDP ratio, largely stemming from the failure to tap into the potential originating from the steady growth of the economy and a lack of reform.
The Bangladesh Bank (BB) is unlikely to reduce the policy or repo rate for the second half of this year as inflation continues to remain stubbornly high, according to the central bank governor.
Record remittances lift reserves, but economy burdened by sluggish tax, bad loans, high joblessness
Government borrowing from domestic banks and non-bank sources rose 55 percent year-on-year during the July-April period of the fiscal year (FY) 2024-25, due mainly to weaker foreign loan disbursements and poor tax collection.
Bangladesh’s expenditure on poverty reduction has been gradually declining, and in the upcoming fiscal year of 2025-26, it is set to hit a four-year low due to a decrease in spending that directly impacts hunger.
The government plans to amend the existing sovereign guarantee guidelines to streamline the process and mitigate fiscal risks if public entities fail to make repayments on time, according to a finance ministry report.
If you visit the Dhaka Medical College and Hospital (DMCH), you will find it difficult to make your way through the crowded corridors between the wards. Patients lie on narrow, makeshift beds along both sides, while doctors, hospital staff, visitors, and treatment seekers shuffle through the chaos.
Bangladesh has continued to showcase a weak performance in the open budget rankings among its South Asian peers, reflecting a lack of transparency and accountability in the formulation and implementation of fiscal measures.
Candy, which did not attract the attention of exporters even a decade ago, has become one of the top five items in Bangladesh’s processed food export basket, highlighting the much-needed value-addition brought on by manufacturers.
The devaluation of taka has increased competitiveness of Bangladesh’s oceangoing ships
Rice production in Bangladesh grew for the sixth consecutive year in fiscal year (FY) 2022-23 as farmers expanded cultivation areas of high-yielding varieties (HYV) and hybrid rice in place of local varieties.
Wheat imports grew four times in the first quarter of this fiscal year as businesses showed an interest in tapping into reduced international prices of the second most-consumed grain in Bangladesh.
With major indicators showing stress in the economy, there is no good news in the investment flow too as investors now prefer to stay away from taking new projects or expanding their existing capacity.
Mostafa Kamal, chairman and managing director of Meghna Group of Industries, says in an interview
Amid criticisms over the delay in squeezing money supply, the Bangladesh Bank yesterday made borrowing costlier as it raised the policy rate by 75 basis points to 7.25 percent to step up its fight against inflation..This is the sharpest pace of rate increase in at least a decade, said a ce
Companies and organisations will be required to file tax returns on the income generated by employee welfare funds from the current fiscal year and pay a 27.5 percent tax on the earnings.
Bangladesh’s imports of milk and cream plummeted to 118,000 tonnes in the last fiscal year of 2022-23, the lowest in eight years, after a section of consumers cut consumption of milk-based foods and beverages in a bid to manage costs amid heightened levels of inflation.
Sugar prices have risen globally over the last couple of months
