Economy / Bangladesh

Taka's real effective exchange rate nears its fair value

Taka's real effective exchange rate nears its fair value

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


No scope for ambitious budget

No scope for ambitious budget

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

Govt needs to spend to aid growth, Kamal tells editors

Govt needs to spend to aid growth, Kamal tells editors

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

ECNEC approves Tk 4.26b project to strengthen village courts

ECNEC approves Tk 4.26b project to strengthen village courts

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

Dhaka, Thimphu set to sign transit deals Wednesday

Dhaka, Thimphu set to sign transit deals Wednesday

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

Revenue collection up by 8.92pc during July-February period

Revenue collection up by 8.92pc during July-February period

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

Hefty VAT collection keeps revenue afloat

Hefty VAT collection keeps revenue afloat

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

New inflation measure to replace outmoded index

New inflation measure to replace outmoded index

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

Daily transaction of MFS crosses Tk 32b

Daily transaction of MFS crosses Tk 32b

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