Bangladesh's taka now appears to be settling near its fair value after its real effective exchange rate (REER) against a 15-currency basket of global trading partners dropped significantly. The REER, measured by the central bank of Bangladesh against the currency basket, now stood at 104.8, as of
Dealing with the pressure of inflation while maintaining the growth momentum will be main focus of next budget, government policymakers said Wednesday as businesses suggested taxation reforms and incentivizing economic activity. Prominent business leaders at a pre-budget meet urged the government
Prime Minister's Private Industries and Investment Adviser Salman F Rahman has said the process of opening letters of credit (LCs) would be eased further in coming days and foreign currency reserves would be stabilised by June this year. Regarding the shortage of foreign currency reserves in the l
The government needs to spend money for supporting the country's economic growth, the finance minister said Tuesday. "How the economy will run unless money is spent," AHM Mustafa Kamal posed the question in justifying pursuance of a moderately expansionary policy so far despite suggestions for a c
The Executive Committee of the National Economic Council (ECNEC) has approved a Tk 4.26 billion project to strengthen the village courts across the country in order to ensure wider access of rural poor, female, lagging behind and under privilege people in getting justice. The approval came from a
Bangladesh and Bhutan are set to sign an agreement and a protocol to offer each other multi-modal transit facilities aimed at boosting bilateral trade. A Bangladesh delegation, led by Commerce Minister Tipu Munshi, was already on its way to Bhutan where the deals are expected to be signed likely t
Bangladesh's trade leaders demanded "logical duty-tax protection" for local industry and investment as the finance minister consulted them Monday on fiscal measures in making the coming budget amid persisting odds. At a virtually held pre-budget meeting with Finance Minister AHM Mustafa Kamal, the
Chairman of the Financial Reporting Council (FRC) Professor Hamid Ullah Bhuiyan has said no bank in the country follows International Accounting Standards or International Financial Reporting Standards (IFRS) in preparing financial statements. Due to this, the actual picture of the financial healt
The revenue collection by the National Board of Revenue (NBR) during the July-February period of the current fiscal year (FY23) witnessed an 8.92 per cent growth from income tax, VAT and customs with a collection of Tk 1.96 trillion. The revenue collection by the NBR during the same period of the
Collection of value-added tax (VAT) registered a hefty growth of about 15 per cent in the first eight months to February of the current fiscal year (FY) over the same period of last FY, largely contributed by domestic consumption of goods. The VAT wing of the National Board of Revenue (NBR) mobili
Bangladesh is updating the consumer inflation index with lot many goods and services in count, with 2021-22 as new base year, as price rises have upset indices locally and globally. Officials say the updated gauge to measure inflation is likely to be launched next fiscal year, beginning in July, a
Foreign Minister Dr AK Abdul Momen, on Sunday, called upon the international community to continue providing trade facilities to the countries who have graduated from the LDC status. Addressing the 25th founding anniversary celebration programme of the Diplomatic Correspondents’ Association
The average daily transaction of mobile financial service (MFS) has crossed Tk32 billion and its volume shows a growing trend, said the latest report of Bangladesh Bank (BB). Analysing the data of 13 MFS in the country the BB report said that MFS gets popular in Bangladesh due to convenient transa
