This interim govt’s character is truly exceptional: Wahiduddin Mahmud

Planning Adviser Wahiduddin Mahmud today said the interim government has emerged from the spirit of a mass uprising while also striving to uphold constitutionalism, describing its nature as unprecedented in Bangladesh.

Recalling his experience in the caretaker government of 1996, Mahmud said performing duties at that time was much easier.

“This time, I did not want to take the role myself, but I had to,” he said while speaking at an event in Dhaka.

“The character of this government is truly exceptional. It is neither an NGO government nor a fully political one. On the one hand, it is an interim government, and on the other, it is striving to uphold constitutionalism,” he said.

“Such a government has never come to Bangladesh before,” he added, noting that he still does not fully understand the characteristics of the current administration.

Commenting on the economy, Mahmud said signs of macroeconomic stabilisation are emerging, although several uncertainties remain.

“In the fiscal year 2024-25, GDP growth was around 4 percent and is expected to move closer to 5 percent this year. But I do not consider GDP growth alone a strong indicator. Other economic markers are more telling,” he said.

He noted that imports of industrial raw materials have increased, indicating a pickup in production activity, while imports of capital machinery have also risen modestly.

Export performance remains stable, foreign exchange reserves are showing slight improvement, and the exchange rate of the taka is relatively stable.

However, inflation remains a concern, he said.

“Point-to-point inflation has declined from 11 percent to about 8 percent, but it is not falling fast. Due to persistent price expectations, it will take more time to ease,” Mahmud said.

He also underscored the need for a balanced monetary policy, arguing that the current high interest rate may no longer be necessary as credit growth remains low and investment sluggish.

The seminar, titled “Economic Stability and the Challenges of the Next Government” and the “ERF Scholarship Award 2026”, was held at the National Life Insurance auditorium, organised by the Economic Reporters’ Forum (ERF).