Exports in the just-concluded fiscal year (FY) of 2013-14 fetched $30.17 billion. The amount reflected an 11.65 per cent growth over the previous fiscal due to increased shipments of apparel products despite having some odds like political turmoil and tragic factory incidents. However, the overall export receipts fell short of target by 1.06 per cent set for the July-June period of FY 2013-14, according to official data released Thursday, reports the Financial Expres. The single month earnings in June, 2014 reached...

Kazi Saidur Rahman, General Manager of Bangladesh Bank Forex Reserve and Treasury Management Department said, the reserves stood at $21.12 billion on Thursday. According to the central bank, the reserves earlier exceeded $21 billion on June 16 but depleted following payment of $970 million import bills to the Asian Clearing Union (ACU) on July 6. Rahman attributed the rise in forex reserves to ‘the positive trend’ in remittance inflow and export earnings, and disbursement of foreign loans to local organisations. He said Bangladesh co...

The International Monetary Fund (IMF) has said that further efforts are needed in Bangladesh to raise on a permanent basis the ratio of tax to gross domestic product (GDP), with particular importance placed on the introduction of a value-added tax (VAT). Bangladesh's tax-to-GDP ratio is very low, even when compared to other low-income countries, and should be raised in order to create fiscal space for increased priority spending, the IMF said. The government should focus on implementing the new VAT and strengthening revenue administration, the Fun...