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Economy

Forex reserves rise to $33.2 b by Dec-end

Bangladesh's foreign exchange reserves rose to $33.23 billion by the end of December, $630 million more than the previous month, the central bank said on Monday. The reserves were up nearly 3.4 percent from a year earlier, and are sufficient to cover about 10 months' worth of imports for the country of 160 million people. forexSteady garment exports and remittances from Bangladeshis working overseas - the key drivers of the country's more-than $250 billion economy - have helped foreign exchange reserves grow steadily in recen...

Achieving SDG 6 targets: Govt, CSOs must work together

Government and Civil Society Organisations must work together to achieve the SDG 6 targets and sanitation for all - participants from around the world shared at the Watershed Annual Partner Learning Meeting 2017. Watershed - Empowering Citizens, is a five-year long policy and advocacy strengthening programme of WaterAid Bangladesh, launched early this year. WaterAid working as in-country IMG_7910lead with strategic partners - Dutch Ministry of Foreign Affairs, SIMAVI, IRC, Wetlands International and AKVO. The programme aim...

Bangladesh stepping into higher growth trajectory

Bangladesh GDP, after almost a decade of 6 per cent plus growth, has achieved 7.24% in FY 17. Bangladesh ranked 31st among the world’s 32 largest economies in 2016. Its GDP (PPP) was $628 billion, and it was projected to increase to $3,064 billion in 2050, according to report of PricewaterhouseCoopers (PwC), as mentioned by ICC Bangladesh to its latest News Bulletin editorial (April-June 2017 issue). By 2050 Bangladesh, India and Vietnam will become the fastest growing economies, with Bangladesh expected to see an impressive growth that will push it to 23rd place overall, the report added. PwC ranked 32 countries by their projected global gross domestic product (GDP) at purchasing power parity (PPP), and made projections for up to 2050.

6.8pc growth in 2017: World Bank

Bangladesh’s growth in 2017 will be 6.8 percent, the World Bank has said in a report. The global lender, in its report Global Economic Prospect released Sunday, attributed the decline in growth to sliding remittance and shrink in internal demand and industrial production. Finance Minister AMA Muhith has projected for a GDP growth of 7.4 percent for the fiscal wb2017-18 in the budget he proposed. However, he himself said it was an ambitious budget. Last year, the growth target of overcoming the “6 percent growth trap” was overcome as...

Govt plans to speed up rice imports in wake of flooding

The government of Bangladesh will speed up plans to import rice that it brought in to build reserves and rein in local prices after flash floods hit domestic output, government officials said on Thursday. As part of that, a Bangladeshi delegation is now in Vietnam to finalize imports of the staple grain in a government-to-government deal, said a procurement official, declining to be pariza rice panicleidentified as he was not authorized to speak with media. He did not give further details on the transacti...
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