Bangladesh’s economy is in crisis due to domestic and external shocks, and graduation from the category of Least Developed Countries (LDCs) this year will worsen the situation due to several risks, according to a government document.

The economy, which is already reeling under the pressure owing to persisting volatility in the foreign exchange market and higher inflation, is set to face another major setback as the nationwide blockade could disrupt the smooth operation of the entire supply chain.

With major indicators showing stress in the economy, there is no good news in the investment flow too as investors now prefer to stay away from taking new projects or expanding their existing capacity.

High inflation and low export and remittance earnings are a major cause for concern at the moment.

Prime Minister Sheikh Hasina today (September 1, 2022) reiterated her call to the countrymen to put concentration on boosting food production, savings and showing austerity in all stages in the wake of global crisis.