Finance Minister AHM Mustafa Kamal yesterday said that though he is worried about the elevated level of consumer prices, the situation is still under the government’s control.
Self-contradictory is what best describes Finance Minister AHM Mustafa Kamal’s fifth budget, and the last of the Awami League-led government’s current term.
Private sector credit growth in Bangladesh dropped to a 14-month low of 11.23 per cent in April owing to weak credit demand amid the current business slowdown, official figures showed.
High inflation can impose serious and lasting costs on the economy and people. But the distributive effects of inflation—the way it transfers money from some individuals to others—are complex.
Three issues would be dictating the upcoming fiscal year’s budget, the last of the Awami League government’s present five-year term: the International Monetary Fund’s conditions, the persistently high inflation and next year’s national election.
Lack of action to bring down prices of food is especially concerning
Famine can be averted but we may still face a food crisis if the government cannot bring down prices