GDP growth
Jordan Senate President lauds Bangladesh’s growth during pandemic
Jordanian Senate President and former Prime Minister Faisal Akif Al-Fayez has highly appreciated Bangladesh’s over 5 percent GDP growth even during pandemic under the leadership of Prime Minister Sheikh Hasina.
Post-pandemic recovery depends on reliable data
The recovery of the country’s economy following the coronavirus crisis is long and slow due to data scarcity, experts say.
Economy at stake, says BNP
BNP Secretary General Mirza Fakhrul Islam Alamgir on Saturday alleged that the national economy is currently in a very bad shape due to the government’s ‘wrong policy’ and widespread ‘plundering’.
Govt lying about economy, GDP growth: Fakhrul
BNP Secretary General Mirza Fakhrul Islam Alamgir on Friday accused the government of "lying" about the country's economic condition and the GDP growth.
Exercise austerity in spending public money: PM
Expressing concern over mobilisation of funds to implement the fiscal budget in this situation, Prime Minister Sheikh Hasina on Monday asked all to exercise austerity in spending public money.
Ensure timely implementation of stimulus packages: ICC,B
The International Chamber of Commerce, Bangladesh (ICC,B) has said that timely implementation and ensuring that various stimulus packages announced by the government and the Bangladesh Bank are availed by the most desired will be very crucial.
Economic ties with China set to enter "significant new stage" of cooperation
With annual GDP growth of more than 6 percent for many years, Bangladesh will remain one of the most dynamic economies in South Asia and the world, says China.
Pro-people budget definitely implementable: Dr Razzaque
Describing the proposed national budget for 2020-21 fiscal year as ‘pro-people’ and ‘pro-development’, Agriculture Minister Dr Muhammad Abdur Razzaque told parliament that it will definitely be possible to implement it.
Growth target ‘difficult’: BUILD
Business Initiative Leading Development (BUILD) on Thursday said that attaining 8.2 percent GDP growth would be difficult to achieve Considering global economic loss and impact on business in the country.
National Budget for the year 2020-2021 to the amount of TK 5.68 trillion, which is 13.24 percent higher than the revised budget of the current fiscal year 2019-20, has been placed with a targeted GDP growth at 8.2 percent.
"Considering global economic loss and impact on business in the country the growth target would be difficult to achieve," BUILD said in a quick budget reaction.
In order to give a clear signal to the global community and the local and foreign investors, it said that the government should immediately prepare a COVID19 Recovery Plan and a well planned Exit Policy otherwise sustenance of economic growth and LDC Graduation target would be difficult to achieve.
The four main focused areas of the government, such as; health, education, agriculture and employment are very rightly chosen, all the announced policies and allocated budget for these areas needs to be spent and managed very ethically and practically in order to maintain its required growth path and succeed targets, it added.
BUILD Mentioned that some policies such as; increasing the tax-free income limit, reduction of advance tax on import of raw materials, increasing the threshold of turnover tax and reduction of turnover tax rate, increased allocation for the social security and welfare sectors, increased supplementary duty on cigarettes and mobile call rates, etc., also measures for reducing duties on PPEs, and other related medical equipment are appreciable steps. The government should extend special support to the interested manufacturers willing to export PPEs, surgical masks and other related products and support for raw materials import.
"A new horizon has opened for export diversification, Bangladesh can exploit these benefits."
The target of revenue collection, 9.8 percent higher than the revised target, was termed a bit ambitious considering the present situation.
"Hassles for doing business need to be reduced, in that respect more automated process as targeted by NBR needs full implementation."
People’s lives, livelihoods ignored in budget: BNP
BNP on Thursday said the proposed national budget for the 2020-21 fiscal year has failed to reflect people’s hopes and aspirations.