The country's gross domestic product (GDP) target may be lowered to 6.2 percent from the existing target of 7.2 percent, as the prevailing unrest is generating many risk factors in the economy, sources in the Finance and the Planning Ministries say.
The policy makers are also thinking of lowering GDP target due to political instability.
In a meeting of the Fiscal Co-ordination Council at the conference room of the Finance Ministry recently discussed the latest economic position and prospects of the country. Finance Minister AMA Muhith chaired the meeting. Bangladesh Bank Governor Dr Atiur Rahman, Finance Secretary Fazle Kabir, Chairman of the National Board of Revenue (NBR) Golam Hossain, Planning Commission Member Dr Shamsul Alam, Economic Relations Division (ERD) Secretary Abul ...
Improving working conditions in Bangladesh’s ready-made garment (RMG) industry is crucial for achieving sustainable growth in the country, says a new report of International Labour Organisation (ILO) titled as ‘Bangladesh: Seeking Better Employment Conditions For Better Socioeconomic Outcomes’.
According to the report prepared by the ILO Research Department in consultation with the ILO’s tripartite constituents in Bangladesh, the country experienced relatively high economic growth over the past two decades, mainly due to garment exports. Bangladesh accounted for 4.8 per cent of global apparel exports in 2011, compared with only 0.6 per cent in 1990.
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Though the country experienced a 118 percent growth in non-farm economic units over the last 10 years, regional disparity still remains as usual, reveals the preliminary findings of the Economic Census 2013.
The preliminary report of the Economic Census 2013 was launched by the Bangladesh Bureau of Statistics at its Agargaon headquarters on Sunday.
The previous Economic Census, conducted over a three-year period from 2001 to 2003, showed that the country had about 37 lakh non-farm economic units, reports UNB.
The preliminary findings of the latest Census, conducted over four months’ time from February to May this year, showed that the number of economic units has increased from 37 lakhs to 82 lakhs over the last 10 years, which is a 118 percent increase.
The central bank has increased the allocation of the export development fund (EDF) by 25 per cent to $1.0 billion from the previous $800 million to meet the growing demand of the country's exporters, officials said Thursday.
"We've enhanced the amount of EDF allocation to encourage the exporters for strengthening their businesses. Other provisions related to EDF will remain unchanged," a senior official of the Bangladesh Bank (BB) told the FE.
The central bank is providing the re-financing facility to the exporters through commercial banks as short-term liquidity support.
Under the existing provisions, the EDF financing is allowed for input procurements against back-to-back import letters of credit (LCs) or back-to-back inland LCs in foreign exchange, by manufacturers...
DAILY INDICATORS
Wednesday Previous
Taka/US $ (inter-bank) 77.75-77.76 77.75-77.7525 Call money rate (inter-bank) 06.00-08.00 06.00-08.00 Dhaka Stock Exchange index 4,212.72 4,197.71
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MONTHLY
CURRENT PREVIOUS Growth in: Consumer price index (BBS) Change yr/yr (pct) Oct. 7.03 7.13
M2 supply (bln taka) (BB) Sept. 6,267.23 6,199.89 Forex reserves ($bln)(BB) Oct. 17.35 16.15
Exports(FOB) ($mln)(BB) Sept. 2,590.24 2,031.44 Impo...
