The opportunities for Bangladesh are not limited to a year, rather are continued and for the long-term, said Yasir Azman, chief executive officer at Grameenphone, the largest mobile phone operator.

As 2023 comes to a close, we look at some of the milestones and disappointments of the economy

Businesses in Bangladesh managed to demonstrate resilience in 2023 despite lingering challenges stemming from the war between Russia and Ukraine and the fuel price volatility in the international market, said Rupali Chowdhury, president of the Bangladesh Association of Publicly Listed Companies (BAPLC)

The present government started its journey at a time when the global economic environment was conducive to growth and low inflation. Food prices had stabilised after the global food crisis of 2007-08. Interest rates were lowered globally in response to the global economic crisis of 2008.

Garment exports from Bangladesh may witness moderate growth of between 7 and 10 percent in 2024 after struggling to perform strongly in the outgoing year due to a global economic slowdown.

The Bangladesh economy faced extended economic distress after recovering partially from the pandemic before facing the cost-of-living increases and external payment imbalances. Economic activity slowed in 2023 with persistently high inflation and erosion of external buffers.

In the wake of its hard-fought liberation in 1971, Bangladesh's incredible transformation into an economic powerhouse is a testament to its solid spirit.

Bangladesh’s corn import may plunge in the marketing year (MY) 2023-24 beginning from May owing to reduced requirement of feed in poultry, aqua and other farms, and difficulties faced by millers in importing goods amid the ongoing forex shortage in the country, according to a recent report by the US Department of Agriculture (USDA).

The biggest challenges an inclusive economy is the growing disparity between the rich and the poor, according to economists

The government’s spending on interest payments against the mounting foreign debt surged 136.70 percent year-on-year to $562 million in the first five months of the current fiscal year as disbursements surged in recent years.

Bangladesh is set to become the world's 20th largest economy by 2038 owing to continued economic growth, according to a forecast by the London-based Centre for Economics and Business Research (CEBR) on Wednesday.

Dutch-Bangla Bank PLC, a private bank in Bangladesh, plans to raise Tk 1,200 crore through the sale of subordinated bonds, according to a company disclosure posted on the Dhaka Stock Exchange yesterday.

There is no chance of Bangladeshi garment factories using materials like cotton, yarn and fabrics produced in China’s Xinjiang region, said Faruque Hassan, president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), yesterday.

Bangladesh’s rice production may decline slightly in marketing year (MY) 2023-24 as a result of partial damage to Aman rice crop, now being harvested in Southern coastal districts, the US Department of Agriculture (USDA) said last week.

Bangladesh Bank yesterday suspended Intekhab Alam, managing director of Phoenix Finance and Investments Ltd, over allegations of being involved in loan irregularities and activities that go against the interest of depositors.

Leaders of the Inland Vessel Owners Association of Chattogram (IVOAC) yesterday accused a section of leaders of the Bangladesh Cargo Vessel Owners Association (BCVOA) of orchestrating the obstruction of loading, unloading, and transport of goods from the former’s allocated vessels.

The import of 30 goods, which are in high demand in industry, farming and households, through Custom House, Chattogram has dropped in volume by 26 percent in the first five months of fiscal year 2023-24 compared to the same period of last year.

National Bank delivered false information into the Bangladesh Bank’s credit information bureau database to hide the default loans of one of its clients, said a Bangladesh Bank letter.

The overall tourism industry in Bangladesh performed well throughout the outgoing calendar year despite facing adversity in the final quarter due to ongoing political unrest, according to industry people.

The boost to the reserves stems mainly from the purchase of US dollars from Islami Bank Bangladesh as well as the release of the installments of the loans from the IMF and the Asian Development Bank.