United News of Bangladesh

Bangladesh is experiencing mounting pressure in repaying its foreign debt, as outflows for loan servicing continue to rise alongside fresh disbursements, according to the latest report from the Economic Relations Division (ERD). In the first nine months of the current fiscal year (July–March), the country paid more than $3.5 billion in principal and interest on external loans to development partners, including the World Bank, Asian Development Bank, and Japan. The ERD report shows that Bangladesh repaid $3.525 billion during the period, while receiving $3.89 billion in foreign loans and grants. Of the repayments, $2.276 billion was principal and $1.25 billion interest. Foreign loans are primarily used to finance projects under the Annual Development Program (ADP), with the ERD maintaining records of disbursement and repayment. At the same time, reliance on domestic borrowing has also increased. To bridge the budget deficit, the government borrowed over Tk 1 lakh crore from the banking system during the first nine months of the fiscal year. After partial repayments, the net borrowing now stands at around Tk 93,000 crore, adding further strain to overall debt servicing obligations. Officials noted that Bangladesh has been facing a steady rise in foreign debt repayments over the past few years. In the previous fiscal year, the country crossed the $4 billion mark in external debt servicing for the first time, repaying $4.09 billion, up from $3.37 billion the year before. If the current trend continues, total foreign loan repayments could exceed $5 billion by the end of the current fiscal year, according to related officials. The report further reveals that Bangladesh received $3.5 billion in loans and $380 million in grants during the July-March period. However, total loan commitments declined slightly to $2.8 billion, compared to $3 billion in the same period of the previous fiscal year. Among development partners, Russia disbursed the highest amount during the nine-month period, providing approximately $830 million. The World Bank followed with $765 million, while the Asian Development Bank disbursed about $610 million. China and India released $520 million and $240 million respectively, while Japan provided around $310 million. In addition, the government is securing about $4.7 billion in budget support loans from development partners. Foreign development partners also provide debt support to the private sector.

The historic May Day will be observed in Bangladesh on Friday as elsewhere across the world . May Day, also known as the International Workers' Solidarity Day, commemorates the historic uprising of working people in Chicago, USA at the height of a prolonged fight for an eight-hour workday in the late nineteenth century. This year’s theme is ‘Shushtho Shramik, Kormoth Haat; Asbey Ebar Nabo Probhat’. The day is a public holiday in Bangladesh. Newspapers will publish supplements while radio and television channels will air special programmes highlighting the significance of the day. Different socio-cultural organizations, political parties chalked out various programmes to observe the day. On May 1, 1886, 10 workers were killed when police opened fire on a demonstration in the US city of Chicago near Hay Market demanding an eight-hour working day instead of a 12-hour shift. On the height of agitation, the authorities had to accept the workers' demand and the eight-hour day has been introduced universally. On July 14, 1889, an international workers' rally in Paris declared May 1 as the International Workers’ Solidarity Day in recognition of the Chicago workers' sacrifice and achievement and since 1890, the day has been observed globally as the International Workers’ Solidarity Day. The day has been observed globally as the International Workers’ Solidarity Day since 1890. President Mohammed Shahabuddin and Prime Minister Tarique Rahman issued separate messages on the occasion. In his message, President Shahabuddin said Shaheed President Ziaur Rahman had taken various groundbreaking steps to establish workers’ rights and welfare. Continuing that legacy, the current government has adopted various programmes and policies for the welfare of the working class. These include labour law reforms, ensuring fair wages, providing reasonable wages and social security for workers in the informal sector, introducing a self-financed pension system, ensuring trade union rights, reopening closed industries, providing food at fair prices, and ensuring job security for permanent workers and employees. The President expressed hope that the implementation of these programmes would improve the lives of workers. He said the contribution of the working class to national development is immense, describing workers as the main drivers of the country’s progress. To achieve the goal of building a prosperous Bangladesh, he said, it is essential to ensure workers’ rights, a safe working environment, and social security. In his message, Prime Minister Tarique Rahman said working people are the backbone of any country’s development, prosperity and progress. Industry, agriculture, infrastructure and a strong economy are built on their hard work, he said. He said improving their living standards, ensuring fair rights, creating a safe working environment and establishing social dignity are key commitments of the current democratic government. The Prime Minister wished overall success for all programmes undertaken on the occasion of May Day.

Opposition Chief Whip and Convener of the National Citizen Party (NCP) Nahid Islam on Thursday told Parliament that the President needs to be removed and arrested. “The President has no right to stay at Bangabhaban to come here and give a speech,” he said taking part in the thanksgiving motion on President’s speech. Nahid said he was made ACC Commissioner with three goals- to confirm the corruption allegations against Khaleda Zia and Tarique Rahman, to give a clean chit to Awami League from the Padma Bridge corruption allegations and to cancel the corruption cases against Sheikh Hasina and other Awami League leaders during the Fakhruddin-Moinuddin government. Nahid Islam also questioned how the BNP government continues to recognise and accept such a person as the President. President Shahabuddin Chuppu is the mastermind behind handing over Islami Bank to S Alam, said Nahid. “We know everything about his (President) role during the July genocide, his connection with fascism. But unfortunately, a corrupt, useless, liar, and an accomplice to genocide is still the President of Bangladesh,” He accused the government  of betraying the aspirations of the July Mass Uprising and failing to bring necessary constitutional changes. "None of us has said that the July Uprising is bigger than the Liberation War or the July Uprising is bigger than '90 or smaller than '90(mass uprising). The July Uprising is a special event in the history of Bangladesh,” he said. He said after BNP government came to power, one thing has been coming up repeatedly: improving relations with India. “The statement the Foreign Minister, who was the national security adviser to the previous government, made is not clear to us. On what basis are we talking about improving relations with India? Nahid said, "We want to improve relations with India. India is our neighboring country. But this development of relations must be based on dignity and equality." Referring to the TIB report, Nahid said, 59.41 percent of the government party candidates ran for the election have debts. “Members of parliament have debts of 11,000 crore taka, most of which are from the government party. Most of them were in debt, but they repaid their debts by paying some money before the election.” “The current Bangladesh Bank Governor is rescheduling debts. He is experienced in this, so it is clear why he was made the Governor of Bangladesh Bank. For the first time in the history of the country, a businessman has been made the Governor of Bangladesh Bank to provide him with the facilities to rescheduling loans worth thousands of crores of taka. As a result, I can no longer trust them,” he said. Criticising the BNP's 'Note of Dissention' in the July National Charter, Nahid said that the July National Charter has been tainted by giving it a 'Note of Dissent'. Referring to the referendum, Nahid Islam said, "We participated in the referendum based on everyone's consent. The Prime Minister himself campaigned for reforms and for 'Yes' in the referendum. But after the election, BNP took a different stance. Criticizing this, he said, "It was necessary to make it clear before the election that you do not accept the referendum. Whether yes or no wins this referendum has nothing to do with you. They didn't do that."  

Sketching the grim picture of the country’s economy, Finance Minister Amir Khosru Mahmud Chowdhury on Thursday clearly stated that it would take more two years to come out from the present deplorable condition. “We need cushions (to support the economy) for two years. The next two years will be difficult. We will have to make many decisions. We will take many measures that may not be popular. So, to get out of a difficult situation, we will have to make many difficult decisions,” he said. The finance minister made the remarks, participating in the discussion on thanksgiving motion over the President’s speech delivered on the first day of the current parliament session. He sought cooperation from the opposition for the interest of the country in this economic revitalization process. “We all have to work together to get me out of here. Our leadership is good. Our captain is okay and his vision is good,” he said. The finance minister said though it is not an easy task, Bangladesh would be able to come out from the situation. “We need cooperation from all here,” he said. The minister also underscored the importance of curbing unnecessary expenditure, saying that spending beyond their means is no longer viable. “We all feel that we do not need excessive spending. There is no scope to go beyond what we can afford,” he said. Highlighting the government’s reform initiatives, he said various changes including reforms and deregulation measures, have already been undertaken, while the remaining steps are in progress. “If we want to bring the economy back to its previous position or take it to an even better level, the necessary reforms must be implemented,” he said. Describing Tarique Rahman as ‘visionary and prudent leader,’ of the country, he said his vision, thoughts and work ethic is working among them. “It is working among everyone. So, I can say for sure that we will come out of here, Inshallah,” Grim picture of economy: Depicting the current pictures of the economy with a series of indicators, the finance minister said Bangladesh’s tax-to-GDP ratio has fallen below 7 percent — the lowest in South Asia and among the lowest globally. He noted that the ratio was around 10 percent in 2005-06 and had a growing trend during the last BNP regime. About the poverty rate, he said the rate increased from 17.18 percent in 2022 to 20.5 percent in 2024 and it reached 29.93 percent in 2025 as per BBS estimates. Govt committed to ensuring equal rights for all faiths: PM Private sector credit growth, which is crucial for investment, production and employment, has declined sharply to around 6 percent of GDP, compared to 18.27 percent in 2005-06, he said. Export growth has also turned negative, falling by 2.6 percent, whereas it had recorded around 14 percent growth when the BNP left office in 2006, he added. He expressed concern over the rising volume of non-performing loans (NPLs), saying it has exceeded 30 percent, a level that could bring economic activities close to a halt. “When NPLs exceed 30 percent, the economy almost comes to a grinding halt,” he warned, noting that the figure was around 13 percent in 2005. The finance minister also pointed to mounting fiscal pressures due to large subsidies in the power and energy sectors. He said the government is currently providing around Tk 36,000 crore in power subsidies and may need to provide an additional Tk 20,000–30,000 crore. Remarks on loan defaulters and banking practices: Responding to remarks of opposition Chief Whip Nahid Islam’s remarks that many BNP lawmakers are loan defaulters, the finance minister said loan rescheduling is a global banking practice and not something newly introduced by any political party. “In the last 17 years, many BNP businessmen could not run their business and they were not provided bank loans,” he said, adding that they faced systematic obstacles in accessing bank loans and doing business. He claimed that even sanctioned loans were not disbursed, repayment periods were not extended, and various administrative barriers were created, forcing many businessmen to shut down operations. “Many were unable to stay in their homes, some had to go into hiding, and others were imprisoned. Under such circumstances, repaying bank loans becomes extremely difficult,” he said. He said gas and electricity connections of some business units were disconnected, further worsening their financial condition. BNP does not own any banks, while alleging that some other political parties have their own banks, enabling them to protect their members from becoming defaulters. Referring to recent discussions in Parliament, he emphasised the importance of respecting constitutional institutions, including the office of the President. “The President is an institution, not a person. If we believe in constitutional democracy, we must respect institutions,” he said. July Charter and political mandate: Turning to the issue of the July Charter, he said it remains a key political framework and is aligned with BNP’s 31-point reform agenda and election manifesto. “BNP’s 32-point agenda is fully aligned with the July Charter,” he said, adding that BNP signed the charter aligning it with the 31-point agenda. During the last election campaign, BNP sought public support based on those commitments and the people gave us a two-thirds mandate, which reflects their support for the BNP’s election manifesto, said the minister.

Speakers at a discussion on Thursday called for a strong tobacco tax policy including higher taxation and price increases on tobacco products in the 2026–27 national budget to safeguard public health. The demand was raised at a discussion titled “The Importance of Effective Tobacco Taxation in the Upcoming 2026–27 National Budget,” jointly organised by Dhaka Ahsania Mission and Bangladesh Secretariat Reporters Forum (BSRF) at the CIRDAP auditorium in the capital. Speaking as the chief guest, Additional Secretary of the Health Services Division (World Health Wing) Sheikh Momina Moni said the easy availability of tobacco products in Bangladesh is contributing to rising smoking rates, particularly among youth and low-income groups. She stressed that increasing prices alone is not sufficient noting that tobacco prices must raise at a rate higher than inflation and income growth to effectively reduce consumption. Md Mostafizur Rahman, former BCIC chairman Mostafizur Rahman, said  Bangladesh incurred an estimated Tk 87,000 crore loss in 2024 due to tobacco-related health and environmental impacts. Speakers observed that tobacco products remain relatively cheap in Bangladesh compared to essential commodities, making them more accessible, especially to younger consumers. They said the lack of price adjustments in line with inflation and income growth has weakened tobacco control efforts. They also noted that the existing tax structure leads to an estimated annual revenue loss of around Tk 44,000 crore, adding that effective tobacco taxation could both reduce smoking and increase government revenue. Nearly 200,000 people die prematurely each year in Bangladesh due to tobacco-related diseases. They emphasised that tobacco control should be treated as a public health priority rather than solely a revenue-generating issue, underscoring the need for significant price hikes through effective taxation. Presenting the keynote paper, Shariful Islam, project coordinator at Dhaka Ahsania Mission, said prices of essential commodities rose sharply between 2021 and 2023, while cigarette prices increased at a much lower rate. He noted that sugar prices rose by 88.97 percent, potatoes by 86.58 percent and flour by 75.09 percent, whereas cigarette prices increased by 15.38 percent in the low tier, 6.35 percent in the mid-tier and 11.11 percent in the premium segment. He warned that mid-tier cigarettes, which have the largest consumer base, saw the lowest price increase, effectively making cigarettes cheaper relative to essential goods. Shariful also proposed restructuring the cigarette market into three tiers by merging the low and mid-tier segments, with suggested retail prices of Tk 100, Tk 150 and Tk 200 for 10-stick packs. He further recommended maintaining a 67 percent supplementary duty across all tiers and imposing a specific tax of Tk 4 per pack. BSRF President Masudul Haque said tobacco companies often spread misinformation ahead of the national budget, claiming that higher taxes would lead to increased smuggling. Members of the BSRF executive committee were present at the event. Among others, BSRF General Secretary Ubaidullah Badal and Mokhlesur Rahman, deputy director of the health sector at Dhaka Ahsania Mission spoke at the event.

Parliament on Thursday witnessed an unusual and unprecedented debate after the passage of two key financial sector bills, despite no provision in the rules of procedure allowing discussion once a bill has been passed. The Bangladesh Securities and Exchange Commission (Amendment) Bill 2026 and the Insurance Development and Regulatory Authority (Amendment) Bill 2026 were passed in Parliament by a voice vote after Finance Minister Amir Khosru Mahmud Chowdhury moved those. After the passage of the two bills, there was a debate between the treasury and opposition benches. Except for independent MP elected from Brahmanbaria-2 Rumeen Farhana, no one else had proposed sending the two bills to the public opinion or scrutiny committee. As a result, no member except Rumeen got the opportunity to discuss the bill. But several members of the opposition party raised their hands to discuss the bill. In her discussion, Rumeen Farhana said one of the pillars of the Bangladesh economy is the insurance sector. “If we discuss it honestly, the condition of the insurance sector is not very good.” In response, the Finance Minister said he completely agreed that the insurance industry in Bangladesh is going through a very difficult situation. “Many insurance companies have been born due to mismanagement, corruption and government patronage. Those who do not care about the law and regulations.” At this stage, several members of the opposition bench sought a chance to speak. Deputy Speaker Kayser Kamal said there is no chance for speaking at this stage. However, he gave a chance to Leader of the Opposition Dr Shafiqur Rahman. Shafiqur Rahman said they did not get the papers of the bills in due time, calling for suspending the bills. However, the Deputy Speaker said, according to the rules, the reports of the bills were given on Wednesday, and then he proceeded with the process of passing the bills and those were passed. Then National Citizen Party MP Akhter Hossen said two laws have just been passed, questioning the aim of the amendments. Referring to the lifting of age cap in the Securities and Exchange Commission Act and the Insurance Corporation Act, he said, "Is this being done keeping a person in mind or a policy in mind? Our idea is that if the age constraints of this law are lifted, keeping some special people in mind, like an appointment to the Bangladesh Bank, then it will create a contradiction from the place where the minister talked about skilled and qualified people. The law has been passed, but we are expressing our concerns here on behalf of the opposition party.” Akhter said when the BNP came to power in 2001, they increased the age limit of the Chief Justice from 65 to 67 to appoint the caretaker government chief adviser as per their own wishes. “After that, the nation had to endure a long suffering.” At this stage, the Speaker requested the Finance Minister to say if he had anything to say. At that time, Khosru said in almost every country in the world where the Securities Exchange Commission is operating successfully, there is no such obstacle. “If qualified and skilled people want to come here, you have to keep these in mind.” Then the opposition leader stood up again, saying qualified people need to be given space in the right place. “Morning shows the day. All the activities of the government in the basic areas like the Bangladesh Bank in the last two months have gone against the wishes of the people.” He referred to the appointment of the current central bank governor and the dismissal of the former one. “All the changes that have been made so far are not supported by the people and the democracy. We could not even keep the playing field open. We went there and got into trouble too.” Shafiqur Rahman said if everything is politicised and groups and families are given in particular areas, the country will not move forward. In response, the Finance Minister said there was no opportunity for such discussions after a bill was passed. He said every time the BNP has come to power, all the appointments made in the Bangladesh Bank and Securities Exchange Commission have been non-political. Khosru said the BB governor is not a member of any party. “The performance of the governor is better than the performance of any other governors.” He referred to the increase in the age limit of the BB governor in the past, saying the current opposition did not raise any objection at that time. The Finance Minister said the Prime Minister has already decided that no political figure will be given an appointment in the financial sector. Then Deputy Leader of the Opposition Syed Abdullah Md Taher said, "The Prime Minister has decided not to appoint party members to any financial institution. We are very happy if that is the case. I will thank him for that.” But, he said, the current BB governor has an identity. “That is, he was a member of the BNP election steering committee.” When the Speaker asked the Finance Minister to clarify the issue, he said supporting a party does not mean that the person is a party member. “And supporting a party in election activities does not mean being a party member. Surely many people from your party have helped with your election activities. Those who are not from your party."

The High Court on Thursday granted bail to former Narayanganj City Corporation (NCC) Mayor Selina Hayat Ivy in two murder cases linked to the July uprising. The HC bench of Justice KM Zahid Sarwar and Justice Sheikh Abu Taher passed the order after hearing separate bail petitions. The cases were filed at Siddhirganj Police Station in Narayanganj on charges of killing Selim Mondal and Abdus Salam during the July 2024 uprising. Ivy was shown arrested in the cases on March 2 and April 12 this year. Meanwhile, the Appellate Division of the Supreme Court is set to deliver its order on Sunday on appeals filed against HC bail granted to the former NCC mayor in five other cases. The Appellate Division bench, led by senior justice Mohammad Ashfaqul Islam, fixed the date on Monday. The High Court granted bail to Ivy in the five cases on February 26 this year following separate bail petitions. The state filed petitions with the Appellate Division seeking stay on the High Court orders of bail. Following state’s petitions, the chamber judge of the Appellate Division on March 5 this year stayed the High Court orders and sent those petitions to the full bench for hearings. Of the cases, four are murder cases filed at Fatullah Police Station over the killings of bus driver Abul Hossain Mizi, Abdur Rahman, Md Yasin and Parvez during the July uprising. Another case was filed at Narayanganj Sadar Model Police Station on charges of assault and obstructing public servants. The former NCC mayor was shown arrested in the five cases on November 9 last year, when she secured HC bail in five additional cases. The state moved the Appellate Division against the HC orders when the chamber judge on November 12 stayed the bail and sent the matter to the regular bench for hearing. The matter is still pending with the Appellate Division. Ivy was picked up in the early hours of May 9 last year from her residence ‘Chunka Kutir’ in Narayanganj city’s Deobhog area and later shown arrested in multiple cases.

A fire that broke out at a tin-shed ink manufacturing factory in Amulia Model Town area in Demra of the capital on Wednesday morning has been brought under control. The fire that started around  11:38am has been brought under control around 1:55 pm, said Fire Service and Civil Defence inspector Anwarul Islam. Two units from Demra Fire Station rushed to the spot around 11:55am. Later, six more units joined the effort. No casualties were reported immediately.

The government has undertaken a series of short and long-term measures to reduce the backlog of cases and ensure their speedy disposal across the country, Law, Justice and Parliamentary Affairs Minister Md. Asaduzzaman told Parliament on Thursday. He said amendments to key procedural laws have already been passed in the current session of parliament to modernise judicial processes. The minister said this while replying to a starred tabled question from treasury bench lawmaker elected from Noakhali-1 AM Mahbub Uddin. “The Code of Civil Procedure (Amendment) Act, 2026 introduced provisions for serving summons through SMS and voice calls, submission of complaints and written statements via affidavit and direct cross-examination. It also allows execution applications to be filed within the original cases, eliminating the need for separate execution suits,” he said. It aims to reduce unnecessary delays by simplifying procedures, including provisions to bypass proclamation and attachment processes for absconding accused in certain cases, and introducing digital methods for summons service. He said testimonies of investigation officials, doctors and magistrates recording confessions are now being taken online under the Information Technology Act, 2020, enabling faster trial without requiring physical presence of witnesses. To ease the workload, he said separate judicial magistrate courts have been designated allowing magistrates to focus more on trial proceedings. A total of 871 courts and 232 judgeships have already been created, while the process to create 304 additional judges post is underway, said the minister. Recruitment of 150 civil judges and over 1,200 judicial staff is also in progress, he said. Md. Asaduzzaman added that mediation has been made mandatory in selected disputes through the Legal Aid Services (Amendment) Act, 2026 before filing cases in courts, which has significantly reduced litigation in pilot districts. “Free legal aid services have been expanded, including a hotline (16699), online services, and support for expatriates, he said. The minister said infrastructure development is also ongoing, with plans to construct chief judicial magistrate court buildings in 23 districts and expand facilities in others. Digital initiatives such as e-bail bond management (already operational in 16 districts), e-family courts in Dhaka and Chattogram, and fully online cause lists have improved transparency and efficiency, he added. Besides, information and service centers have been set up in all district judge and chief judicial magistrate court premises to assist litigants. “Projects like digital marriage and divorce registration and a comprehensive “e-Judiciary” system are also in progress to fully digitize judicial operations,” he said. The minister said reforms to the Bangladesh Legal Practitioners and Bar Council Order, 1972 are underway to improve the quality of legal professionals. He expressed optimism that these coordinated measures will gradually reduce case backlog and ensure faster, transparent and cost-effective justice delivery for citizens.

Bangladesh’s economy in March presented a mixed picture, with easing food prices offering some relief while persistent non-food inflation, a widening revenue shortfall and slowing development spending continued to weigh on the overall outlook, according to the latest report by the General Economics Division (GED). While a bumper rice harvest provided temporary relief to consumers, the broader macroeconomic landscape remains fraught with external vulnerabilities and domestic inefficiencies, it said. The Economic Update and Outlook April 2026 published by the GED of the Planning Ministry said inflation moderated to 8.71% in March, down from 9.13% in February, largely driven by a decline in food inflation, which fell to 8.24%. The "hero" of the month was rice, which saw inflation turn negative at -2.20%. This was fuelled by the arrival of the Boro harvest, increased imports, and government open-market sales. However, this relief was partially eroded by double-digit spikes in meat prices (15.11%) and continued pressure from fish and vegetables. Conversely, non-food inflation remained "sticky" at 9.09%. Analysts point to a "pass-through effect" where high energy costs and currency depreciation have permanently baked higher prices into housing, transport, and utilities. While the gap between inflation (8.71%) and wage growth (8.09%) narrowed slightly in March, the reality for the average household remains grim, according to the report. Real incomes continue to erode as wage increases fail to keep pace with the cumulative cost of living. Household purchasing power remains under severe strain, leaving the population vulnerable to any renewed external shocks, it said. The banking sector showed signs of resilience with total deposits reaching Tk 19,95,461.3 crore in February, an 11.28% year-on-year growth. However, the surge in public sector credit growth (29.61%) suggests the government is borrowing heavily from the banking system to fund its operations. On the fiscal front, the National Board of Revenue (NBR) continues to struggle. In March, the NBR collected Tk 33,521 crore, missing its revised target by a staggering Tk 19,769 crore (a 37.10% shortfall). VAT collection, usually a reliable pillar, saw the largest deficit, falling Tk 11,527 crore short of expectations. The Annual Development Programme (ADP) implementation has hit a roadblock. Total expenditure for the July-March period dropped from Tk. 82,894 crore last year to Tk. 75,607 crore this year. The decline is particularly sharp in projects funded by foreign loans and grants, signalling procedural bottlenecks or shifting donor conditions. This slowdown in infrastructure spending threatens the long-term cyclical recovery of the economy. The brightest spot in the March report is the surge in remittances, which hit US$3.76 billion, up from $3.30 billion the previous year. This influx has helped stabilise foreign exchange reserves, which stood at $34.12 billion in March. However, the export sector is flashing red. Year-on-year export growth plummeted to -18.07% in March, with Ready-Made Garment (RMG) exports falling significantly. Rising global energy prices and domestic fuel hikes are making Bangladeshi goods less competitive on the world stage. The Taka has followed divergent paths. While the bilateral rate against the US Dollar remained relatively stable at 122.62, the Real Effective Exchange Rate (REER) rose to 126.03, indicating that the Taka is depreciating in real terms against a basket of currencies. While this theoretically helps export competitiveness, it also increases the cost of vital imports. The "March Moderation" appears to be a fragile equilibrium. The economy is currently leaning heavily on two pillars: the Boro rice harvest and migrant remittances. With global commodity prices rising due to Persian Gulf tensions and a persistent domestic revenue gap, the government faces a narrow path. Without structural reforms in revenue collection and a more efficient execution of development projects, the current stability may prove to be a temporary lull before renewed inflationary pressures.