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Economy

Economy struggling but to recover in next fiscal

The Asian Development Bank (ADB) has sharply revised down its growth forecast for Bangladesh, now projecting the country's economy to expand by just 3.9% in the fiscal year 2024–25. This represents a significant reduction from the 5.1% forecast issued in September 2024 and a steep decline from the 6.6% projection made in April 2024.

In addition, the ADB warns that Bangladesh's annual average inflation is expected to rise further, reaching 1...

Bangladesh Investment Summit 2025 kicks off

Bangladesh Investment Summit 2025 was inaugurated on Monday, aiming to spotlight the country’s evolving investment landscape, poised for transformative opportunities and unprecedented growth.
At the opening session of Bangladesh Startup Connect 2025, Tanveer Ali, Chairman of Constellation Asset Management Company Ltd, delivered the keynote address.

US market key to easing energy supply shortage: BIDA chief

Executive Chairman of the Bangladesh Investment Development Authority (BIDA), Chowdhury Ashik Mahmud Bin Harun, on Sunday said Bangladesh would be able to overcome the energy supply shortage if it could properly tap the American market in addition to Gulf nations, which will also help Bangladesh address the trade imbalance with the United States. “Since February this year, we have been in discussions with the US on how the trade imbalance can be reduced. A big topic to reduce trade imbalance is LNG,” he said while responding to a question on smooth energy supply to the industrial sector. Chief Adviser’s Press Secretary Shafiqul Alam, Deputy Press Secretaries Apurba Jahangir and Abul Kalam Azad Majumder were also pr...

Average tariff on US imports to Bangladesh 6pc

The average tariff rate on imports from the United States to Bangladesh was 6 per cent last year. This means that for every 100 taka worth of goods imported from the US, the government collected an average of 6.15 taka in duties and taxes. However, import-stage taxes such as value-added tax (VAT), advance income tax (AIT), and advance tax (AT) are later adjusted by businesses. Excluding these three adjustable taxes, the effective average tariff rate stood at 2.20 per cent. This analysis is based on data from the National Board of Revenue (NBR).

Nothing to be panicked: CA’s High Representative on US tariffs

Chief Adviser's High Representative Dr Khalilur Rahman said Bangladesh would soon take some measures in consultation with the US administration regarding the tariff issue, stressing that there is nothing to panic about. "We are prepared for this. We will soon take some measures. These measures will be taken in consultation with the US administration. There is nothing to fear or get panicked about. We are fully prepared," he said.

The High Representat...

NBR to response to US counter-tariff tomorrow

The National Board of Revenue (NBR) is set to hold a meeting tomorrow, 6 April, to decide on its next course of action in response to the recent 37% counter-tariff imposed by the United States under the Trump administration.

According to officials, the NBR is currently assessing whether there is any possibility of reducing customs duties on imports from the United States as a reciprocal measure.

US President Donald Trump announced reciprocal tariffs to match duties put on US goods by other countries, ratcheting up a trade war he kicked off on his return to the White House.

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