The global economy is forecast to grow 2.9% this year, according to a Reuters poll published on Friday, with next year's growth seen slowing to 2.6%.
Bangladesh is going through a period of economic slowdown and this weakening of the economy will be looming large for the entire period of 2023. The biggest problem for the common people now is inflation. It has increased the living cost and decreased the actual income.
Bangladesh's export sector showed its prowess in 2022 despite the devastating Russia-Ukraine war, unprecedented freight costs, energy crisis, record inflation and a risk of a recession that loomed throughout the outgoing year.
Both global and local macro-challenges can have serious implications for the people of Bangladesh
A recession is a substantial decline in overall economic activity, lasting more than a few months, typically visible in real gross domestic product, actual income, employment, industrial production, and wholesale-retail sales.
Bitcoin dropped below the $20,000 level on Saturday to its lowest point in 18 months, extending its slide as investors showed they were unnerved by growing troubles in the industry and as the general pull-back from riskier assets continued.
The country is facing the biggest macroeconomic challenge in the last one decade, said Selim Raihan, executive director of the South Asian Network on Economic Modeling (Sanem).
President Dilma Rousseff on Friday replaced Finance Minister Joaquim Levy, a fiscal conservative appointed just over a year ago, with a close ally, Planning Minister Nelson Barbosa, the Brazilian leader's office says in a statement.