Tag: inflation
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If government takes steps, inflation will reduce soon: PM Hasina
They found that it had a significant impact on inflation, subsidy expenditure, trade balance, foreign exchange reserves and exchange rates. Responding to a question by Saiful Islam, independent MLA elected from Dhaka-19, Sheikh Hasina said that the prices of some products like fuel oil, edible oil, wheat, fertilizers, various food products, consumer goods and industrial…
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Challenges for Bangladesh: Diplomacy, Economy and Security latest updates
Just as the political leadership of Bangladesh is unable to reach a consensus on any domestic issue, similarly they are equally adamant on foreign policy issues. BNP leaders say the border with Myanmar is turbulent and unsafe due to the government’s subservient foreign policy. On the other hand, Awami League leaders are not ready to…
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Growing Trend of Super Shops: Impact, Development and Future Prospects in Bangladesh
The inflation rate was above 9 percent for almost the entire 2023. In addition to rising food prices, inflation of non-food items was also quite high. Traders say that although super shop consumers are not low-income people, a large section of them are under immense pressure due to inflation. Speaking to Prothom Alo, Kazi Ruhul…
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Fuel price dilemma: Government’s failure to adjust to international market trends
Energy experts and economists argue that prolonged inflationary pressures have burdened people, while the government struggles to rein in market prices. Meanwhile, the government takes advantage of increased gas prices to generate revenue. However, there was an opportunity to reduce the cost of fuel oil, potentially lowering prices in various market sectors, particularly in agricultural…
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Bangladesh economy under stress: Expert panel urges real solutions, not quick fixes
The economy is undoubtedly under stress. High inflation, low foreign exchange reserves, weak remittances, dollar crisis, declining exports are some of the challenges faced by Bangladesh. The new government may show a confident and brave face, but they have many economic problems to contend with. The panelists made these comments at a BIPSS Policy Circle…
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Bibi announces monetary policy, increases policy rate
Over the past year, the banking sector regulator has taken various initiatives to tackle high inflation. Also, some important steps were taken in line with the suggestions of the International Monetary Fund (IMF). In the previous monetary policy, Bangladesh Bank had taken initiatives such as introduction of interest rate corridor system, withdrawal of interest rate…
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PM Hasina addresses AL meeting, vested quarters conspire to raise commodity prices
The AL president asked everyone, especially his party members, to remain vigilant against arsonists who burnt people to death, including a mother and her child. He also directed them to maintain faith and trust in the Awami League through their work, for which they went to the polling stations, disregarding the call of the “BNP…
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Food inflation drops below 10 percent in December, non-food inflation rises
According to the latest data from Bangladesh Bureau of Statistics (BBS), the country’s overall food inflation fell below 10 per cent in December last year, while non-food inflation rose slightly during the period. BBS data showed overall inflation fell to 9.41 per cent last December from 9.93 per cent and 9.49 per cent respectively in…
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Bangladesh’s economic challenges and the way forward for the new government
In view of the continuous decline in reserves, the government has taken a loan of US$4.7 billion (US$470 crore) from the International Monetary Fund (IMF). Bangladesh has so far received two installments of the loan. It is expected to get two more installments in the new year. The government will have to make reforms to…
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Food inflation: need for strict measures
According to the World Bank report, rising food prices remain a matter of concern for 71 percent of the families in Bangladesh. Before the Covid situation, inflation in Bangladesh was more or less five percent. The price rise has pushed food inflation to 12.6 percent in two years. To make it clear, people have to…
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Household Expenditure Survey 2022: Households spend 42% of income on food. bbs report
According to the BBS survey report, the average income of a Bangladeshi family is 32,422 taka per month, and 13 sectors spend 31,500 taka. Discussing the survey, Mohiuddin, deputy director of BBS and director of the survey project, told Prothom Alo that the increase in people’s income aligns with the socio-economic development of the country,…
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Market for the poor: Pangas, chicken cost 5 taka per piece
Market for the poor: Pangas, chicken cost 5 taka per piece
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Reserve crisis: where is it going?
When the Islamic bank, which brought in the largest volume of remittances, changed ownership and was accused of various frauds in providing loans, customers lost confidence in the bank and increasingly turned to the informal money transfer system of hundi. Did. This accelerated the pace of decline in foreign exchange reserves. Dollars have to be…
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Banks reduce dollar prices for remittances and export earnings: Reduction by Tk 0.5 for the first time
As per the decision, the purchasing rate for remittance and export earnings will be reduced from Tk 110.5 to Tk 110. To meet import liabilities, the dollar may be priced at Tk 110.5, down from Tk 111. However, banks can provide an additional 2.5 percent incentive on remittances, allowing beneficiaries to receive a maximum of…
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President-elect Miley says it could take two years to get Argentina’s inflation under control
When asked about his dollarization platform, Miley said the priority is “to close the central bank, then the currency will be one Argentina will freely choose.” Miley will take office on December 10, inheriting a country whose treasury is in danger, with his incoming government facing a $44 billion debt to the International Monetary Fund.…