The government’s borrowing from the banking system has remained in check so far in the ongoing fiscal year thanks to lower expenditures and higher revenue collection.
Government revenue collection in the July-August period, the first two months of the current fiscal year of 2023-24, has increased by nearly 15 percent year-on-year, thanks to a rise in VAT from multinational companies.
Although higher consumer prices have persisted in the first few months of the current fiscal year, inflation in Bangladesh is going to cool in the later part of 2023-24 thanks to one external and two domestic factors, the Asian Development Bank (ADB) forecast yesterday.
Bangladesh is expecting another $250 million in budget support from the World Bank after the government fulfilled the conditions laid out for the funding.
About 13,000 people enrolled on the universal pension system in the month since Prime Minister Sheikh Hasina flagged it off, with private sector employees making the majority.
The cost of debt servicing has risen significantly amid a higher flow of loans from development partners and an elevated level of interest payments, compounding pressure on the foreign currency reserve of Bangladesh, official figures showed.
Liquidity in Shariah-based banks in Bangladesh remains tight due to a dip in deposit collection and the banks’ inability to make the most of the central bank support to overcome the situation, Moody’s Investors Service said in a report.
The scale of the immediate but devastating effects of the Covid-19 pandemic on Bangladesh’s economy emerged for the first time after the Bangladesh Bureau of Statistics (BBS) published the quarterly data of the GDP to meet IMF’s conditions.
The government’s borrowing from the banking system has remained in check so far in the ongoing fiscal year thanks to lower expenditures and higher revenue collection.
Government revenue collection in the July-August period, the first two months of the current fiscal year of 2023-24, has increased by nearly 15 percent year-on-year, thanks to a rise in VAT from multinational companies.
Although higher consumer prices have persisted in the first few months of the current fiscal year, inflation in Bangladesh is going to cool in the later part of 2023-24 thanks to one external and two domestic factors, the Asian Development Bank (ADB) forecast yesterday.
Bangladesh is expecting another $250 million in budget support from the World Bank after the government fulfilled the conditions laid out for the funding.
About 13,000 people enrolled on the universal pension system in the month since Prime Minister Sheikh Hasina flagged it off, with private sector employees making the majority.
The cost of debt servicing has risen significantly amid a higher flow of loans from development partners and an elevated level of interest payments, compounding pressure on the foreign currency reserve of Bangladesh, official figures showed.
Liquidity in Shariah-based banks in Bangladesh remains tight due to a dip in deposit collection and the banks’ inability to make the most of the central bank support to overcome the situation, Moody’s Investors Service said in a report.
The scale of the immediate but devastating effects of the Covid-19 pandemic on Bangladesh’s economy emerged for the first time after the Bangladesh Bureau of Statistics (BBS) published the quarterly data of the GDP to meet IMF’s conditions.
China to fund it; AIIB to finance power supply infrastructure; proposals to be placed before Ecnec today
Inflation advanced 23 basis points in August to 9.92 percent propelled by food inflation, which hit a 12-year-high -- laying bare the magnitude of the cost of living crisis staring down on the poor and the low-income people.