Bangladesh Bank will announce a new monetary policy this month, where measures for the single exchange rate of US dollar and market-based interest rate are getting priority, reports UNB. The monetary policy will also focus on the government’s medium-term reform policy to bring stabilit
Bangladesh would make its strides to reduce reliance on debt in the medium term amid two key macroeconomic challenges - low revenue collection and high-interest rate regime. To face the looming challenges, the finance division came up with the strategy for the next three financial years (FYs) as s
Noted economist Ahsan H Mansur has called for affordable smartphones and easy internet access to facilitate the expansion of mobile financial services (MFS) and foster financial inclusion throughout the country. While speaking at the 'National Consultation on Digital Financial Services and Financi
The number of NFAs (no-frill accounts) has grown by 1.44 per cent to more than 30.45 million with Tk 58,898.28-million deposits during the January-March period over its previous quarter. The central bank’s move is to ensure financial services for people of all segments in society. The Bangl
Transactions through credit cards continue to grow with VISA, thereby dominating the credit-card usage among Bangladeshis at home and abroad, according to officials. Not only Bangladeshis, but also the foreigners, who stay here for varied purposes, use the VISA card most in terms of transfer funds
Investors in government securities may experience a reduction in their investment rebate on tax filings starting from July 1, 2023. According to the new Income Tax Bill-2023, which was placed in Parliament on Thursday, the government is going to establish a limit of up to Tk 0.5 million for the fi
Falling accounts receivables worsened Bangladesh’s balance-of-payments situation as latest statistics show the BoP deficit widened to US$8.8 billion in July-April period of this fiscal, thereby affecting the country’s credit ratings. The gap between what the economy earns and what it s
The World Bank (WB) has projected Bangladesh's GDP (gross domestic product) growth to be 6.2 per cent for the Fiscal year (FY)'24 and 6.4 per cent for FY'25 The global lender made the projections in its Global Economic Prospect in June. It, however, said in Bangladesh, continued import suppressio
The Covid-19 pandemic had been an economic shock for poorer countries in addition to a public health issue, a noted economist told a public lecture on Wednesday. "The pandemic was ultimately an economic shock for poorer countries," said Dr Ahmed Mushfiq Mobarak, a professor of economics at Yale Un
Economists, experts, and business leaders in a post-budget meeting on Wednesday highlighted soaring inflation, extensive bank borrowing, dwindling forex reserves and lax tax administration as significant challenges facing the Bangladesh economy. "Total domestic financing requirement of the budget
Deficit in democratic accountability negatively impacts Bangladesh’s revenue collection, public expenditure and annual development programmes, Debapriya Bhattacharya of the Centre for Policy Dialogue (CPD) said Wednesday in swinging criticism of the new fiscal measures. He told a budget-revi
Government debt liabilities stemming from overdue loans of state-owned enterprises (SOEs) from local and foreign lenders go ballooning to Tk 985.9 billion this year amid financial upheavals, sources say. The amount is over 6.0-percent higher than last year’s—and such growing SOE borrow
Economists, experts and business leaders in a post budget meeting on Wednesday termed inflation, huge bank borrowing, forex situation and tax administration as the major factors ahead of the country’s economy. “Total domestic financing requirement of the budget will be about Tk. 1.6 tr
