• Friday, September 19, 2014

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Economy

Majority upbeat about economy

Majority upbeat about economy

The majority of Bangladeshis have expressed optimism about the economy, giving the thumbs-up to the government's economic management, a Washington-based research organisation said in its survey on public sentiment. The Economic Conditions Report of Pew Research Centre, released on Tuesday, found that 71 percent of the Bangladeshis covered in the survey are happy with the economic health of the country compared to 28 percent dissatisfied. The reputed research organisation interviewed 1,000 Bangladeshis face-to-face, all above 18 years of age, from April 14 to May 11 this year. The survey was...

India's growth hits two year high

India's growth hits two year high

India's economy grew by 5.7 percent in the three months to June, its fastest pace in two-and-a-half years, according to an official estimate. The economy was helped by strong growth in electricity, gas and water supply, and financial services, the Ministry of Statistics said. The growth figure was higher than analysts had been expecting. India's new...

WORLD AFFAIRS ECONOMICS

The Global Security Deficit

SUMMER is normally a time to take a break from the risks and worries of everyday life, and perhaps to take stock of where we are and where we are heading. But this is increasingly difficult, because our everyday lives are becoming so much riskier and more worrying. Much of the discussion in the period following the 2008 financial crisis focused on various economic imbalances that either threatened or impeded growth. These issues have not gone away. The US economy's...

Protecting our twin-engines: A call for diversification

IN 2008, when seemingly “invincible” economies became hostages of the global economic downturn, Bangladesh emerged as a dark-horse and rode the storm admirably. While the superpowers barely managed to bring any economic growth (with some falling into recession), Bangladesh produced its trademark above 6% GDP growth rate. This should not raise any eyebrows. The economy is barely integrated with global trade. The only major trade it relies on is in basic RMG product, which is relatively inelastic to downturns...

The economics of being happy

THE discipline of 'happynomics,' otherwise known as 'the economics of subjective well-being,' is a field where respected economists are joining in. Whether this discipline will be able to help every person to remain happy is unclear; however, economists have managed to get some insights into what can help us being content. Tim Harford, widely known as 'The Undercover Economist,' recently provided four tips as to how to be happy. Number one: never be distracted by the obvious. For example, when buying...

Knowledge Economy Index: Why we did so poorly

BANGLADESH'S performance in research and innovations is awfully poor. Asian Development Bank (ADB) has recently published a report: Innovative Asia: Advancing the Knowledge-based Economy. ADB referred to the World Bank's Knowledge Economy Index where Bangladesh ranked 27th out of 28 emerging economies of Asia and the Pacific. Bangladesh fell below India, Sri Lanka, and Nepal in the rankings. Much to our despair, we positioned below even Pakistan in the index of knowledge economy. While we find ourselves 'an emerging...

Growth: Can this budget help it leap?

Growth: Can this budget help it leap?

THE recent announcement of the fiscal budget has triggered a wave of opinions countrywide. Is the curiosity surrounding the budget necessary? Absolutely. We know that for a developing country like Bangladesh, fiscal policies may tend to take precedence over monetary since financial sectors are still developing. Firstly, let us briefly take a look at some of the figures presented this year. The budget targets an acceleration of real GDP growth to 7.3% (from 6.12%) and a fall in inflation to 6% (from 7.5%). Some have critiqued the enormous size of the Tk. 2.5 trillion budget; However, a 15.9% increase in spending may not be considered undue as nominal GDP growth...

Private investment the key

Private investment the key

The economy faces an impossible task of raising private investment by Tk 75,000 crore in fiscal 2014-15 to achieve the desired 7.3 percent GDP growth, the Centre for Policy Dialogue said yesterday. To that end, private investment needs to rise to 25 percent of gross domestic product from the present 21 percent, an increase...

Implementation will be put to test:

AN immediate reaction to the budget for FY2015 is, “let this budget be different in terms of implementation and achievement”. The proposed budget for the next fiscal year which is about 16 percent larger than that of the revised budget of FY2014 brings in a lot of promises both in terms of expenditure and revenue. The fiscal framework has been designed in a way that the budget deficit will be the usual 5 percent of total budget.  Total expenditure...

Looking East: PM visits China

Looking East: PM visits China

EAST Asia has been the most dynamic economic region in the world for over half a century.  It was first Japan that showed a spectacular economic growth eventually becoming the 2nd largest economy in the world, the rank the country lost to its neighbor China a few years back. Then the rise of...

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