Bangladesh’s economy slowed in fiscal 2022-23 although growth bounced back to 5.78 percent by the end of the year’s fourth quarter, government data shows.
The ongoing political crisis, foreign powers’ interest in the upcoming national election, and labour and human rights issues are deepening the economic uncertainty in the country, the Policy Research Institute (PRI) of Bangladesh said yesterday.
Increased private, foreign investments key to our economic recovery
The political unrest and the garment workers’ agitation in the apparel sector have started to take a toll on the economy that is already grappling with elevated inflation, a depleting dollar stockpile, slowing exports and decelerating private sector activities.
Bangladesh Bank is preparing a roadmap for the next government to address the three major issues of exchange rate instability, high inflation and high defaulted loan ratio bearing upon the economy.
Investing more in research and development vital for future economic growth
Pressure on the external sector of Bangladesh's economy is expected to persist in the current financial year, said a top official of the World Bank yesterday