Over the years, the government has significantly eased customs duties to facilitate local industries but a lot of challenges still exist, said Zaved Akhtar, chief executive officer and managing director of Unilever Bangladesh Ltd.
The Bangladesh Elevator Escalators and Lift Importers Association (BEELIA) yesterday demanded the withdrawal of the proposed duty on imports of elevators and escalators in the national budget for fiscal year (FY) 2023-24.
State-owned enterprises (SOEs) in Bangladesh will likely incur collective losses of Tk 14,703 crore in the coming fiscal year, according to the finance ministry.
The government is going to unveil a Tk 7,61,785 crore budget for the next fiscal year on Thursday, setting containment of high inflation as a major target.
The government has kept borrowing a hefty amount of funds from the Bangladesh Bank as commercial banks are unable to meet the financing requirement of the state because of the liquidity crunch.
The deficit in Bangladesh’s financial account widened further in the first nine months of the ongoing fiscal year, an indication that the current instability in the foreign exchange market will continue in the coming months.
Bangladesh’s balance of payments (BoP) deficit would widen massively in the current fiscal year than the central bank had earlier projected owing to escalated imports, lower remittances and export receipts, and higher accumulation of debts.
The national budget for the next fiscal year will be the third since the start of the Covid-19 crisis in March 2020. Can we expect it to address the current realities, contexts and challenges of Bangladesh?
The Asian Development Bank projects 7 percent economic growth for Bangladesh for the current fiscal year, much below than the government’s provisional estimate of 7.65 percent.