This year was always supposed to be a celebration of Bangladesh’s economic progress with the opening of Padma bridge and Dhaka metro rail and 100 percent electrification.
The government has trimmed its growth forecast for this fiscal year by a whole percentage point to 6.5 percent as the energy shortage and inflation dampened economic activities.
The Asian Infrastructure Investment Bank has become the first multilateral lender to respond to Bangladesh’s call for budget support this fiscal year to weather the impacts of the Ukraine war after its board approved $250 million last week.
Bangladesh may witness slower economic growth in the coming future if it retains the consumption-led growth, which will also exacerbate the widening inequality, said a development economist yesterday.
Sri Lanka is generally known for its quality education, healthcare, natural beauty and even migration policies and practices. But in recent times, the island nation has made the headlines for all the wrong reasons.
Private companies are spearheading Bangladesh’s growth with their energy and optimism, putting the economy on a path to cross the $1-trillion mark by 2040, according to a top global consulting firm.
Jersey sales have surged in Bangladesh despite the cost-of-living crisis as fans are gearing up to watch the FIFA World Cup 2022 in style.
The default-loan narrative has smeared our otherwise powerful story of graduation from the Least Developed Country (LDC) status.
Ever since Sri Lanka and Pakistan’s economic turmoil, Bangladesh’s foreign exchange reserves has become a part of public discourse. So much so that despite having an official figure from the central bank every week, people are speculating.
The economy faces multidimensional challenges as the volatile global scenario threatens to create an adverse situation for the growth momentum of Bangladesh, the central bank warned yesterday.
There are signs that Bangladesh’s stellar growth, which catapulted it among the 10 fastest growing economies over the past decade, may be losing steam soon unless critical reforms are undertaken to counter the decline, said a recent World Bank study.
Bangladesh’s trade deficit widened by 46.4 per cent year-on-year to $1.98 billion in July, but it was far below than the monthly average recorded in the last fiscal year, an encouraging sign for the economy.
Recessions don’t happen overnight, and people don’t stop spending from one day to the next.
The price of chicken eggs has risen substantially over the past week, piling even more pressure on general consumers who are already facing tough times due to the growing cost of living in Bangladesh.
On Wednesday evening, Munaf Khan was sitting idle at his cash box in the clothing shop in the New Market area amid the emphatic sound of generators after the electricity went off since there were no customers.
The wage growth in Bangladesh declined to a seven-year low of 6.06 per cent in the last fiscal year, highlighting the struggle low-paid workers are facing owing to the higher cost of living, official figures showed.
Real estate companies in Bangladesh are cautiously taking up new projects as the war in Ukraine, the strain on foreign currency reserves, the dollar shortage, runaway inflation and higher construction costs have cemented worries that sales of flats might slow in the coming months.
The International Monetary Fund is expecting a formal request for a loan from Bangladesh soon to provide a buffer to the delicate foreign currency reserves amid global economic volatility even though the government remains in two minds about it.
Inflation surged to an eight-year high of 7.42 per cent in May, driven by a hike in food costs, underscoring the plight a majority of the population in Bangladesh is currently experiencing, official figures showed yesterday.
