Browse Category

Economy

Political turmoil paralyzes economy

The beginning of 2015 has witnessed one of the worst political turmoil in the history of Bangladesh. Since last two months, the country has been badly paralyzed by the blockades of roads, railways, waterways and rallies staged by the Bangladesh Nationalist Party (BNP). Hasina-KhaledaThe unrest was triggered by the banned protest launched by the BNP on January 5, on the eve of anniversary of controversial general elections held last year. The motive behind it was to remind BNP members and the rest of the country about the rigged ele...

Money supply in January rises

Broad money supply in January rose nearly 13 percent to 7,385.26 billion taka ($94.93 billion) from a year earlier, but was down 27.22 billion Taka from the previous call moneymonth, the central bank said on Sunday.         Below is the table of broad money supply: Jan. 2015     Dec. 2014   Jan. 2014 (bl taka)        (bl taka)      (bl taka)                        Broad supply   7,385.26    7,412.48     6,537.65                                                 ($1 = 77.80 taka)  

Courtesy: Reuters

 

Pvt sector’s credit appetite dips in Jan

The country’s private sector credit growth decreased in January from that of December as the businesspeople maintained a go-slow investment policy due to the ongoing political violence. According to Bangladesh Bank data released on Wednesday, the year-on-year credit growth rate in the private sector decreased to 13.33 per cent in January compared with that of 13.50 per cent in December 2014, reports the New Age. Workers on the floor of a garment factory in BangladeshCredit flow to the private sector stood at Tk 5,41,881.90 crore as of January 201...

Inflation soars amid political instability

Country’s inflation leaped to 6. 14 percent in February due to soaring food costs amid political instability the country has suffered since January, official figures showed Wednesday. According to data released by Bangladesh Bureau of Statistics (BBS), the inflation rate went up from January’s 6.04 percent to 6. 14 percent in February. inflationThe data showed that the country’s food prices grew 6.11 percent in February from 6.07 percent in January. A senior BBS official said food inflation soared last month due to “political instabil...

Single VAT rate from July: Muhith

Finance minister Abul Mal Abdul MuhithThe government is finally going to introduce a single rate of value added tax (VAT) from July 2016 replacing the existing multiple rates. Finance minister AMA Muhith said at a meeting to motivate the taxpayers at Diploma Engineers Institute in Dhaka on Wednesday. MuhithMultilateral agencies, particularly International Monetary Fund (IMF), have been pressing the government to keep a uniformed VAT rate – at 15 percent – despite the opposition from the businessmen who are demanding multiple rates. “Though b...

IMF Bangladesh forecast low

The Bangladesh economy will grow by about 6 percent, less than previously forecast, in the year to end-June if political violence persists, the International Monetary Fund said on Tuesday. IMFMore than 120 people have died since protests surged on Jan. 5, the first anniversary of contested national elections. Transport blockades and strikes, led by the main opposition party, the Bangladesh Nationalist Party, and aimed at toppling the government, have disrupted business in the impoverished South Asian nation of 160 million people. “The economy may gro...
Verified by MonsterInsights