Bangladesh economy 2022
Time to hit the reset button
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.
Govt revises down growth forecast
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.
FY23’s first budget support materialises
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.
Consumption-led growth could slow economic expansion
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.
Bangladesh has learnt a lot from Sri Lanka’s woes
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 sector driving Bangladesh towards $1-tr economy
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 surge as football fever grips fans
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.
Will the government touch the ‘untouchables’?
The default-loan narrative has smeared our otherwise powerful story of graduation from the Least Developed Country (LDC) status.
What is Bangladesh's current forex reserve?
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.
Economic growth momentum at risk for global volatility: BB
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.
Policy reforms needed to avert slowdown: WB
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.
July trade deficit far below FY22’s monthly average
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.
Bangladesh well-placed to ride out recession
Recessions don’t happen overnight, and people don’t stop spending from one day to the next.
Egg prices unlikely to cool off soon
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.
Double whammy for small retailers
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.
Wage growth falls to 7-year low in FY22
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.
Realtors go slow in taking up new projects
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.
Largest loan from IMF on the cards
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 rockets to eight-year high
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.