• Wednesday, July 30, 2014

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Growth

Growth and governance: Making the transition

ONE striking feature of the results of the last Secondary School Certificate examinations may have escaped our attention. Nearly 10% of more than a million successful candidates secured the highest grades, leaving no way of identifying the top 1% or even the top 5%. Evidently, a deliberate policy of grade inflation in public examinations is undermining the merit system. This phenomenon is perhaps symptomatic of a decline in meritocracy, with a concomitant rise of mediocrity, in all aspects of...

India unveils 'budget for growth'

India unveils 'budget for growth'

India's new government is promising to bring back higher growth, with a budget including more scope for foreign investment, spending on infrastructure and a goods and services tax (GST). The finance minister also indicated there were plans to limit expensive but popular subsidies on food and fuel. India's economy has slowed in recent years, growing...

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...

Forex reserves hit $20b

Forex reserves hit $20b

Foreign currency reserves continued its record growth to reach $20 billion yesterday, thanks to weak import demand, private sector companies taking foreign loans on low interest, and the central bank's initiatives to keep the exchange rate stable. Bangladesh has achieved the feat though exports and remittances, the two main drivers of foreign currencies inflow,...

Forex reserve exceeds $20bn

Forex reserve exceeds $20bn

Foreign currency reserve continued its record growth to reach $20 billion today on the back of a modest growth in remittances and exports and a fall in imports. This was the first time in the history that the reserves have surged past the $20 billion mark, which placed Bangladesh second only to India in...

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