HEADLINE: |
Despite Ramadan Inflation, Bangladesh Economy shows impetus signs of macroeconomic revival
S M Faiyaz Hossain
|
![]() Despite Ramadan Inflation, Bangladesh Economy shows impetus signs of macroeconomic revival Over the past few months, remittances have increased steadily, and export revenue has increased as well. Moreover, the total trade imbalance has shrunk due to lower import costs. The nation's overall import of capital gear has declined because of Bangladesh Bank's limitations imposed on importers. Based on data from the central bank, December of the previous year had an account surplus of $1.92 billion. Meanwhile, the current state of Bangladesh's economy is greatly impacted by expatriate incomes. Remittances during the previous five months have regularly come to about $2 billion. The consistent rise in gross reserves is an exciting news for the economy, will require the continuous currency exchange with banks. Additionally, there has been a minor decrease in the dollar market's volatility. The dollar's value is not rising as a result. Banks were buying dollars for Tk120 previously, but now they are only buying them for Tk118–119. importers are currently obtaining dollars at reduced prices, which can help keep inflation under control after Ramadan. Writer: Graduate Research Student at University of Tasmania, Senior Executive at a 100% Export Oriented Manufacturing Industry, Member of Amnesty International, Australia.
|