Initial signs imply economy is recovering

The government is reviewing the total economic situation of the country as it seems that the economy is improving as per preliminary symptoms, Finance Minister Abul Hassan Mahmood Ali told parliament yesterday.

"The complete scenario will be clear after some days," he said while responding to a supplementary question from independent Sohrab Uddin MP.

In his question Sohrab Uddin said the economy is in turmoil due to the dollar crisis and money laundering and wanted to know whether the government will give opportunity to legalise undisclosed income by paying extra tax to prevent money laundering and tackle the dollar crisis.

In response, the finance minister said the government is reviewing the situation in its entirety.

"Not only the black money, but the entire economic situation is under review. After seeing the initial symptoms, it seems to be that we are heading towards development. I will get a complete picture a few more days later. Until then, please be patient," Mahmood Ali said.

In reply to another query, the minister said that some 36.62 lakh people have submitted income tax returns until January 2024.

The minister also informed the House that the number of TIN holders in the country is 99.70 lakh.

"But some 36.62 lakh returns have submitted by which some Tk 5,901 crore was deposited in the national exchequer," he said.

Earlier, the minister, while talking to the reporters after meetings at the secretariat, said that Bangladesh is slowly recovering from the economic crisis.

"Many people say Bangladesh has become bankrupt, but a big country like ours won't become bankrupt as we are working to resolve the crisis," he said.

His assurance came following meetings with Takeo Konishi, director general of Asian Development Bank (ADB), Arnoud Hameleers, country director of the International Fund for Agricultural Development (IFAD), and Japanese ambassador to Bangladesh Iwama Kiminori.