All indicators of the country’s economy are downward
There is no good news in the country’s economy. Reserves, export earnings, repatriation earnings and foreign aid decreased. Economists feel that the main challenge facing the government now is to protect reserves. Besides, it is necessary to increase the emigration income through legal means.
The government has set a growth target of 7.5 percent in the current financial year. But the International Monetary Fund (IMF) cut its growth forecast to 6 percent in its report on Tuesday. Earlier, the World Bank said that the current fiscal year’s GDP growth may be 5.6 percent.The World Bank in their report showed four reasons for the increase in inflation.
For example: increase in the price of fuel oil in the country’s market, weak monetary policy, devaluation of the currency, disruption in the supply system and strict import control.
Zahid Hossain, the former chief economist of World Bank’s Dhaka office, told Kal Kantha, ‘It is not the case that the ongoing crisis in Bangladesh’s economy is solely due to foreign factors. Our internal affairs are also involved. Due to the accumulation of long-standing problems, it has now become a major problem.