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Economy

Current account logs surplus after a year

According to the latest data released by the Bangladesh Bank, the central Bank of Bangladesh, the country's current account balance recorded a surplus after nearly a year. According to the Bangladesh Bank (BB), the current account balance showed a surplus of 33 million U.S. dollars during the first half of 2024-25 fiscal year against a deficit of 3.47 billion dollars during the corresponding period of the previous fiscal year (July 2023-June 2024). A BB official who preferred to be unnamed said the c...

Remittance inflows reach Tk16,000cr in 15 days

Staff Reporter:

Bangladesh has received remittances totaling $1.312 billion (Tk 16,009 crore at an exchange rate of Tk 122 per dollar) in the first 15 days of February 2025.

Earlier, in January, expatriate Bangladeshis sent $2.19 billion in remittances. For the last six consecutive months, since August of the current fiscal year, remittance inflows have exceeded $2 billion each month.

According to th...

Trade transformation: Preparing for a Post-LDC economy

As Bangladesh prepares for its graduation from Least Developed Country (LDC) status in 2026, efforts to attract foreign direct investment (FDI) and further integrate into the global trade system have intensified. Ready-made garments (RMG) remain Bangladesh’s largest export sector, making it the world’s second-largest exporter after China. The pharmaceutical industry has also experienced rapid expansion, with a 27 per cent year-on-year growth rate in 2021-2022, meeting 98 per cent of domestic demand and exporting to 160 countries.

Elon Musk praises Yunus’ Grameen model

Professor Muhammad Yunus, Chief Adviser to Bangladesh interim government, engaged in an extensive video discussion on Thursday with Elon Musk, founder of SpaceX and owner of Tesla and X, to explore future collaboration and advance the introduction of the Starlink satellite internet service in Bangladesh.

Also present in the discussion were Dr Khalilur Rahman, High Representative for the Rohingya Crisis and Priority Issues, and Lamiya Morshed, Principal Coordinator for SDGs Affairs, alongside Lauren Dreyer, Vice President, and Richard Griffiths, Global Engagement Adviser, from the SpaceX delegation.

Bangladesh records lowest economic growth in 4yrs

Staff Reporter:  Bangladesh has recorded its lowest economic growth in last four years in past fiscal year of 2023-24 due to contractionary monetary and fiscal policies to tackle the dwindling forex reserves and high inflation, and energy supply disruption. Country's economy grew by 4.22 percent in the previous fiscal year, falling 1.6 percentage points short of the provisional estimate by the Bangladesh Bureau of Statistics (BBS).

The final gross domestic product (GDP) ...

Rate hikes fail to curb rising prices in B’desh

Countries worldwide are grappling with high inflation and low growth, prompting diverse monetary policy responses across regions. Global inflationary pressures are posing significant challenges for economies, as nations struggle to manage rising prices while maintaining economic momentum. India has experienced relative success in managing inflation, with the Reserve Bank of India (RBI) aiming to keep inflation within the target range of 2-6 per cent amid uncertain global conditions. Despite disruptions to global supply chains and rising agricultural prices, the RBI has implemented necessary interest rate adjustments to curb inflationary pressures.

Banglade...

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