• Wednesday, September 17, 2014

Year In Economy

    

Bangladesh's proposed budget to spend for fiscal year 2013-14 has been estimated at 222,491 Crore Taka.
Bangladesh's proposed budget to spend for fiscal year 2013-14 has been estimated at 222,491 Crore Taka.

 

 

BETWEEN 2009 AND 2012: NPL=NON-PERFORMING LOANS; SMA=SPECIAL MENTION ACCOUNT. Taking out loans with forged documents have once again hit our economy after the unmasking of Sonali bank in 2012. For the year 2013 it is Basic Bank. The bank approved loans of Tk 4,500 crore, mostly without proper documents and scrutiny. The central bank found clear involvement of the board of directors in the loan scam of AB Trade Link.
BETWEEN 2009 AND 2012: NPL=NON-PERFORMING LOANS; SMA=SPECIAL MENTION ACCOUNT. Taking out loans with forged documents have once again hit our economy after the unmasking of Sonali bank in 2012. For the year 2013 it is Basic Bank. The bank approved loans of Tk 4,500 crore, mostly without proper documents and scrutiny. The central bank found clear involvement of the board of directors in the loan scam of AB Trade Link.

 

 

Investment saw a sharp fall as political violence gripped the nation.
Investment saw a sharp fall as political violence gripped the nation.

 

The rate of financial outflow from Bangladesh to other countries has risen by no less than 28 per cent by the end of 2013. According to GFI's recent findings some Tk. 1 Lakh 28 thousand and Tk. 616 crore was whisked away between 2002 and 2011 from Bangladesh. As a consequence, in the list of 150 developing nations Bangladesh stands 47th in terms of flight of capital including money laundering. Moreover, the position is even dreadful among the South Asian countries -- Bangladesh stands second.
The rate of financial outflow from Bangladesh to
other countries has risen by no less than 28 per
cent by the end of
2013. According to GFI's recent findings
some Tk. 1 Lakh 28 thousand and Tk. 616
crore was whisked away between 2002
and 2011 from Bangladesh.
As a consequence, in the list of 150
developing nations Bangladesh
stands 47th in terms of flight of
capital including money laundering.
Moreover, the position is even
dreadful among the South
Asian countries -- Bangladesh stands second.
 
2013 saw Bangladesh hitting its foreign exchange reserve to an all time high of US$ 18 billion mark. Despite an ongoing political turmoil, the country also saw a rise in the export earnings for both traditional and non-traditional export items.
2013 saw Bangladesh hitting its foreign exchange
reserve to an all time high of US$ 18 billion mark.
Despite an ongoing political turmoil, the
country also saw a rise in the export
earnings for both traditional
and non-traditional export items.
According to a World Bank Report Bangladesh during the most part of 2013 has retained its seventh position among the top most 10 remittance-earning countries in the world. Though it listed Bangladesh among the four countries whose remittances are larger than the national foreign exchange. Bangladesh received its highest-ever annual remittance of about US$14.5 billion in the just out fiscal year as expatriate Bangladeshis sent home hard-earned money through formal channels. The remittance grew by 12% over the same period last fiscal year when it was $12.8 billion, registering 10% growth from $11.6 billion of fiscal year 2010-11.
According to a World Bank Report Bangladesh during the most part of 2013 has retained its seventh position among the top most 10 remittance-earning countries in the world. Though it listed Bangladesh among the four countries whose remittances are larger than the national foreign exchange. Bangladesh received its highest-ever annual remittance of about US$14.5 billion in the just out fiscal year as expatriate Bangladeshis sent home hard-earned money through formal channels. The remittance grew by 12% over the same period last fiscal year when it was $12.8 billion, registering 10% growth from $11.6 billion of fiscal year 2010-11.

 

 

Published: 12:02 am Wednesday, January 01, 2014

Last modified: 9:36 pm Wednesday, January 01, 2014

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