Farm-credit disbursements dropped by nearly 27 per cent in the first quarter (Q1) of the current fiscal year (FY 2024-25) due to political unrest across the country and severe flooding in different parts, officials said. The disbursements came down to Tk 64.58 billion during the July-September qua
Minimum taxes may go in the first stroke as the advisory committee on revenue reform suggests exploring ways to phase out some regressive-nature taxes. In a meeting with the National Board of Revenue (NBR) high-ups Tuesday, the members of the panel also underscored the need for automating the tax
Bangladesh's development works have been hit hard due to the July-August student uprising as the government could spend the lowest-ever development budget under its annual programme, officials said on Monday. The ministries and agencies implemented only 4.75 per cent of Tk 2.78 trillion annual dev
Bangladesh's economic growth slowed to 3.91 per cent in the last quarter of the past fiscal as two broad sectors' bad going compared to the previous three quarters downgraded the rate, official data showed Monday. In the third quarter (January-March) of the fiscal year (FY) 2023-24, the country's
Bangladesh Bank Governor Ahsan Mansur has accused tycoons linked to the toppled regime of Sheikh Hasina of working with members of the military intelligence agency to siphon $17bn out of the banking sector during her rule. In an interview with the Financial Times, he said the Directorate General o
Some 2.0 million electronic tax returns are expected this year following encouraging responses from taxpayers, as the revenue board is transitioning from the cumbersome manual filings. Both electronic tax -return registration and submission have surged significantly after the National Board of Rev
Expatriates sent nearly US$1.95 billion in remittances to Bangladesh during the first 26 days of October, according to the Bangladesh Bank (BB) data released on Sunday. They sent nearly $1.53 billion remittances to the country during the first 19 days of this month. On an average, the daily remitt
Distinguished Fellow of the Centre for Policy Dialogue (CPD) Dr Debapriya Bhattacharya on Saturday highlighted two types of reforms - those left unfinished by the previous government and those essential to advancing Bangladesh beyond an LDC status. Speaking at a dialogue, he said prioritisation an
Net sales of savings instruments in July-August of fiscal year 2024-25 experienced a substantial decline of 24.07 per cent compared to the same period in the previous fiscal year. The net sales of the savings instruments in July-August FY 25 stood at Tk 42.23 billion, Bangladesh Bank (BB) data sho
Release of funds for non-governmental organisations (NGOs), working in the country and are administered through the government regulator - NGO Affairs Bureau (NGOAB), has been showing a declining trend in the recent years. Bangladesh's transition to a middle-income country status, shifting of dono
An economic slowdown now compared to previous months has prompted the IMF to revise down its growth forecast for Bangladesh in the current fiscal year. "The reason for revising down our growth forecast is response to what we saw in the recent past," said Krishna Srinivasan, IMF Director for Asia-P
Bangladesh received foreign aid worth $846.12 million in the first quarter (Q1) of the current fiscal year (FY 2024-25). The amount is around 34% lower than $1.28 billion received in the July-September quarter of the last FY, according to the latest figures of the Economic Relations Division (ERD)
The International Monetary Fund (IMF) has revised Bangladesh's GDP-growth projection down to 4.5 per cent for the current fiscal year on account higher inflationary pressure on the economy. Earlier in April this year, it projected that the GDP growth of Bangladesh would be 6.6 percent. The IMF ha
