Bangladesh’s economy has grown at a faster pace, albeit marginally, in the current fiscal year than the previous one although the production of industrial goods and agricultural commodities recorded reduced growth.

High inflation, rising pressure on external account to slow down economy, the economist said

Due to lack of coordinated and coherent measures, inflation continues to rise, notwithstanding the abolition of the interest rate cap since July 2023.

Mansur, a former economist at the International Monetary Fund, said interest rates would rise. This may slow the economy further, but it is necessary to overcome the challenges.

Good governance is crucial for overcoming economic challenges

The upcoming budget should adopt a balanced approach to address economic slowdown and inflationary pressure.

However, the findings raised questions among economists, who were puzzled by the growth at a time when the economy had been facing a slowdown due to high inflation, a downtrend in export growth, and falling imports.

However, this will not be easy for a least developed country (LDC) like Bangladesh, he added while addressing the inaugural session of the “First Development Studies International Conference- DSIC 2024”.

Persistent high inflation, high debt burden and slow economic growth are the three challenges facing the economy, noted economist Debapriya Bhattacharya said yesterday.

Persistent inflation, a snowballing debt burden and slow economic growth are the three challenges to Bangladesh, according to Debapriya Bhattacharya, a distinguished fellow at the Centre for Policy Dialogue (CPD)

The test of a country’s stability is to what extent it can remain insensitive to any sort of change of government or leadership.

We are hubristically living through our ecological implosion.

The multilateral lender said the economy would grow at 5.6 percent in 2023-24, lower than the South Asian average of 6 percent for 2024. Annual GDP growth averaged 6.6 percent in the decade before the pandemic struck the world in 2020.

The mounting debt servicing obligations also threaten to exacerbate the strain on the country’s low foreign exchange reserves.

Banks situated in countries facing elevated climate risk demonstrate diminished levels of financial stability.

Government must do everything to ensure the safety and well-being of migrant workers

A roadmap on economic policy changes is vital for the private sector since it can help them predict the future, plan accordingly and avoid shocks that may stem from a sudden shift in government strategies, said economists and entrepreneurs yesterday.

The country’s overall macroeconomic situation is improving on the back of rising exports and remittances, Finance Minister Abul Hassan Mahmood Ali said yesterday.

Both the World Bank and Asian Development Bank (ADB) have assured they will continue supporting Bangladesh’s growth but stressed the need for economic reforms that are crucial for the country to become a developed nation.

The World Bank has forecasted a slow economic growth for Bangladesh because of factors like inflation