Fundamental reforms needed to support next wave of digital development: WB
The World Bank has urged Bangladesh to bring in fundamental reforms in order to digitalise the economy and support the next wave of digital development.
20 June 2020, 18:00 PM
Office of Comptroller And Auditor General: 6.4 lakh objections struck off at one go
The Office of the Comptroller and Auditor General (OCAG) has decided to consider 640,000 general audit objections, filed from 1971-1972 to 2009-2010 fiscal year, as resolved.
18 June 2020, 18:00 PM
Bangladesh to post highest GDP growth in Asia this fiscal year
The Asian Development Bank, it seems, is rather certain that Bangladesh’s economic recovery from the coronavirus-induced downturn would be V-shaped.
18 June 2020, 18:00 PM
Subsidy spending climbs for crisis-related expenditure
The government’s subsidy spending would go up by 26.25 per cent to Tk 56,051 crore in the next fiscal year, on the back of taxpayer-funded allocation for food, interest and agriculture sectors.
18 June 2020, 18:00 PM
Pandemic nudging Bangladesh’s debt-to-GDP ratio out of comfort zone
The coronavirus pandemic is turning out to be a quite a costly affair for Bangladesh, due to which its public debt-to-GDP ratio, which has thus far been in a healthy position, is set to exceed the responsible threshold of 40 per cent.
16 June 2020, 18:00 PM
Govt eyes Tk 17,000cr in budget support next fiscal year
The government has set a target to mobilise Tk 17,000 crore in budget support from development partners in fiscal 2020-21 to meet its additional financing need owing to the coronavirus pandemic.
15 June 2020, 18:00 PM
Bangladesh’s stimulus package second highest among peer countries
Bangladesh’s stimulus packages aimed at mitigating the impact of the coronavirus pandemic are one of the highest among a selective group of countries in Asia, according to a government paper.
14 June 2020, 18:00 PM
Social protection schemes’expansion falls short of needs
The social safety net programmes (SSNPs) for the next fiscal year have largely focused on expanding the coverage of the existing schemes amid calls to make them better targeted, increase allocation and include the new poor amid the raging coronavirus pandemic.
13 June 2020, 18:00 PM
Finance minister draws a bead on economic recovery
The national and global lockdown measures aimed at battling the Covid-19 pandemic have taken their toll on Bangladesh’s industrial production, obliterating tens of thousands of jobs, incomes and demand.
10 June 2020, 18:00 PM
Bangladesh’s GDP to grow only 1.6pc
Bangladesh’s economic growth would weaken further to 1.6 percent in the current fiscal year, the World Bank said yesterday as it revised its prospects revealing a far deeper impact of the coronavirus pandemic than it had initially thought.
9 June 2020, 18:00 PM
Funding Next Budget: Kamal still banks on NBR
One can only hope, is what one would remark once learning of Finance Minister AHM Mustafa Kamal’s revenue target for the upcoming fiscal year, due to begin from July 1.
9 June 2020, 18:00 PM
Budget for Health Ministry: No big rise for inefficiency
The health ministry will not see a significant rise in allocation in the upcoming budget amid Covid-19 pandemic mainly due to its lack of capacity to utilise funds, say planning ministry officials.
8 June 2020, 18:00 PM
Safety net outlay to hit 3pc of GDP for first time
The government may allocate Tk 95,155 crore for the safety net programmes in the next fiscal year as it looks to broaden the number of beneficiaries to support those who are struggling to make ends meet after the coronavirus outbreak.
8 June 2020, 18:00 PM
Money whitening may get full amnesty
The government may grant full amnesty to the people if they invest their untaxed money, also known as black money, as it looks to give a boost to the economy reeling from the coronavirus pandemic.
7 June 2020, 18:00 PM
Govt’s Increased Borrowing: Interest payment may rise by 14pc
Thanks to increased domestic borrowing in recent years, the government’s interest payments will rise by 14 percent in the coming fiscal year.
6 June 2020, 18:00 PM
SMEs to be gifted with turnover tax cut
Small and medium enterprises (SMEs) are likely to get a respite from paying turnover tax in the next fiscal year as the government looks to support businesses that suffered sales losses owing to the more than two-month-long shutdown.
6 June 2020, 18:00 PM
Coronavirus Impact: Mega projects take the brunt
Most of the mega development projects were already behind schedule before the pandemic. Then came several months of shutdown, deteriorating the situation to a great extent.
5 June 2020, 18:00 PM
Food budget to be 16pc bigger
The next budget is likely to see an increase in allocation for food purchase amid coronavirus crisis as the government plans to earmark Tk 18,197 crore to buy 32.11 lakh tonnes of foodgrains for distribution among the poor and low-income groups.
4 June 2020, 18:00 PM
Govt pledges transparency, addressing banking sector ills to IMF
Bangladesh has pledged to use the emergency assistance from the International Monetary Fund transparently and effectively, ensure fiscal discipline and prioritising addressing banking sector problems as it secured $732 million from the crisis lender to tackle the coronavirus pandemic.
4 June 2020, 18:00 PM
Debt at heart as Kamal strikes balance amid falling revenue, rising expenditure
Between a rock and a hard place is where Finance Minister AHM Mustafa Kamal finds himself in as he is set to unveil his second budget on June 11.
3 June 2020, 18:00 PM