GDP growth target may be revised down to 5.25%
The GDP growth target may be brought down to 5.25 percent in the revised budget for the current fiscal year due to the damage caused by multiple floods and the interim government’s contractionary monetary policy to contain high inflation.
5 February 2025, 18:00 PM
Capacity payment terms must be renegotiated
The interim government must suspend the inefficient and costly power plants and renegotiate the capacity payment terms with the private power producers as the structure incentivises inefficiency, according to the report of the task force.
3 February 2025, 19:17 PM
Safety net schemes fall short in the fight against poverty
Social safety net programmes, such as Open Market Sales (OMS) and Vulnerable Group Feeding (VGF), provided less help to the actual poor, despite the government boasting about the impact of those schemes on reducing moderate and extreme poverty, according to a taskforce report.
1 February 2025, 18:00 PM
ADB to provide up to $1b by June
The Asian Development Bank has agreed to provide up to $1 billion in budget support by June, but the government must commit to several terms that include reducing the tenure and number of private bank directors.
31 January 2025, 18:23 PM
Taskforce report: 8 mega projects cost $7.5b more for graft, delay
The initially estimated costs of these projects were $11.2 billion in total
31 January 2025, 18:00 PM
IMF pushing for 15pc VAT on 213 goods
The International Monetary Fund has set a prior condition for introducing a full 15 percent statutory VAT rate on 213 products before placing the $645 million loan proposal for the fourth tranche to its executive board.
30 January 2025, 18:43 PM
‘Economy was more dire than people thought’
Finance adviser talks about govt’s 3 strategies to ease economic strain
28 January 2025, 18:11 PM
Lower-tier govt employees may get dearness allowance
The interim government may consider a dearness allowance for lower-grade government staff to provide respite from the ongoing high inflation.
28 January 2025, 18:00 PM
Power subsidies may rise 83% this fiscal year
Subsidies for the power sector are likely to balloon 83 percent this fiscal year as the interim government is planning to clear all arrears owed to private power producers.
26 January 2025, 18:00 PM
11 WB funded projects: Govt set to repurpose $670m loans
As much as $670 million (around Tk 8,200 crore) from slow-moving World Bank-funded projects will be repurposed, with most of the funds going towards budget support as the government looks to navigate the narrow fiscal space amid a slowing economy.
24 January 2025, 18:49 PM
Interest payments eat up more than half of govt revenue expenses
Over half of the government’s total revenue expenditure during the first four months of the current fiscal year of 2024–25 was on interest payments alone, mainly due to increased borrowing and a rise in the interest rates.
22 January 2025, 18:00 PM
Govt service delivery: Task force for using AI, social media
A task force formed by the planning ministry is going to recommend the formation of an independent centre for delivering government services via social media and utilising artificial intelligence (AI).
20 January 2025, 18:00 PM
Govt raises savings rates to cool inflation, woo investors
The interim government has increased interest rates on various national savings certificates to upwards of 12 percent in an effort to make these instruments more attractive to savers and to cool inflation.
15 January 2025, 18:00 PM
ADP spending fell 19% in Jul-Dec
The implementation of the Annual Development Programme (ADP) in the first six months of fiscal year 2024-25 was down 19 percent year-on-year, due mainly to political unrest and delay caused by thorough scrutiny of previously approved projects.
14 January 2025, 18:00 PM
ADP spending fell 19% in Jul-Dec
Tk 50,002 crore was spent in the period
14 January 2025, 14:38 PM
IMF to crank up pressure to boost tax collection
The International Monetary Fund is set to tighten the noose on the Bangladesh government over its dismal revenue mobilisation...
11 January 2025, 18:00 PM
Government debt now in uneasy territory
Government debt increased 13.3 percent last fiscal year to a record Tk 18.3 lakh crore, raising concerns about repayment amid the low revenue mobilisation.
9 January 2025, 18:00 PM
Interest rate on savings certificates to be raised
The interim government is set to increase the interest rates against various savings certificates to upwards of 12 percent as it looks to provide some relief to the fixed income group squeezed by the elevated inflation.
8 January 2025, 18:00 PM
Private sector investment remains sluggish
Foreign exchange reserves are showing encouraging signs of stability due to record remittance inflows and rising exports, but private sector investment remains a concern for the government.
3 January 2025, 18:26 PM
ADB attaches 20 conditions to another $600m budget support
The Asian Development Bank (ADB) has outlined 20 conditions for Bangladesh to access $600 million in the second tranche of a loan for the implementation of its “Strengthening Economic Management and Governance Program”.
2 January 2025, 18:00 PM