State Minister for Commerce Ahasanul Islam Titu sits with businesses of the two nations

The government has not addressed the stability issue through its fiscal policy for two years in a row although the economy is in turmoil owing to both external and internal pressures. A noted economist, however, thinks it can bring the situation under better control through the budget in the next fiscal year beginning on July 1.

Fighting raging inflation and putting the economy back on track have not been taken seriously as evidenced from the government’s delayed response, which set the scene for one of the worst economic crises in its history and an unprecedented prolonged period of higher consumer prices, said an economist. 

The government is not moving at full throttle in bringing discipline to the banking sector, implementing reforms wholeheartedly, taking measures against syndication, and bringing money launderers under the rule of law, said a top economist.

The government is expanding the size of the national budget every year. However, it has fallen short of attaining its targets over the years, be that in terms of revenue collection or development expenditure.

Of the $21.61 billion remittance Bangladesh received in FY23, only $44.99 million came from Saarc countries

On September 16, 2021, Rassel and Shamima were arrested from their Mohammadpur residence in the capital in a case filed over fraud and embezzlement

$2.25 billion remittance came in May this year, up from last year same month's $1.7 billion

The benchmark index declined 18.29 points from the previous day to 5,233.67

Enhancing fiscal space, prioritising expenditure and foreign financing, ensuring good governance, and protecting the interests of vulnerable and disadvantaged groups should be considered for public finance management in the upcoming fiscal year, said the Centre for Policy Dialogue (CPD) today.

Prices of various essential items have gone up to the extent that they seem luxury goods for many people, particularly poor and vulnerable people, said the Centre for Policy Dialogue (CPD) today.

Chowdhury also said it is really difficult to predict when the demand for steel will rise once again as no one knows when the ongoing economic crisis will let up.

In FY22, the spending on public services increased to 15 percent of the total actual expenditure, nearly double the rate in FY09. Similarly, spending on the transport and communication sector surged to 12 percent from 4.7 percent in FY09.

In 2023, existing companies reinvested earnings of $2.20 billion out of total net FDI inflow of $3 billion. This means that 73.5 percent of FDI came from existing investors.

International market prices declined mainly because of a fall in demand from end consumers suffering from high inflationary pressure due to the severe fallouts of Covid-19 and Russia-Ukraine war.

Akij Glass Industries, a concern of the group, has invested around Tk 2,200 crore to set up a factory on over 125 acres of land in Madhabpur upazila of Habiganj, some 114 kilometres east of capital Dhaka.

Mercantile Bank PLC used to emphasise corporate lending but now the private commercial lender plans to redirect the focus in order to bring the unbanked people under the financial system by providing more loans to small and medium enterprises, retail and agriculture, said its top executive.

As the government wants to lower expenses, it is likely to contain the budget deficit to 4.6 percent of gross domestic product in the next fiscal year, a level seen a decade ago.

A new Customs Act 2023 will come into effect from June 6 this year aiming to enhance fiscal discipline, accountability in import revenue collection and trade facilitation.

They also demanded action against factory owners who will stay aboard or will not pay before Eid