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Prime Minister Sheikh Hasina on Wednesday said inflation in Bangladesh will come under control soon due to the government’s various initiatives and a better outlook in the developed economies.
“Inflation is expected to come down significantly in 2024 in key economies including the US and the European Union,” she told the parliament in reply to a tabled question from opposition Jatiya Party lawmaker Mujibul Haque Chunnu.
She hoped that inflation would go down because of a reduction in the prices of fuel, food products, and fertilisers in the global market, an adjustment in fuel oil prices, and government initiatives to normalise the food supply situation.
The prime minister’s comments came during her question-answer session.
She said Bangladesh is experiencing various economic crises due to the adverse impact on the global economy triggered by the Russia-Ukraine conflict and war-related sanctions that started soon after Covid-19 pandemic.
“This has had a significant impact on inflation, subsidy expenditure, balance of trade, foreign exchange reserves, and exchange rates,” she said.
In reply to another query from Independent MP (from Dhaka-19) Saiful Islam, the Leader of the House said that the country is feeling the pressure of imported inflation due to the increase in the prices of some products in the world market, such as fuel oil, edible oil, wheat, fertilisers, various food products, consumer goods, and industrial raw materials.
“The government is currently continuing all kinds of activities to keep the prices of consumer goods normal,” she told the lawmaker.