Bangladesh’s economy currently at its lowest ebb in 10 years: CPD
DOT Desk: Bangladesh’s economy is currently now at its lowest ebb seen in the last 10 years, the Centre for Policy Dialogue (CPD) said. A rift in the macroeconomic stability surfaced in the last fiscal because of revenue shortfall, problems in the banking sector, and pressure on the exchange rate of the Taka against Dollar, reports The Daily Star.
Bangladesh’s macro economy is now in its most challenging position, said Debapriya Bhattacharya, a distinguished fellow of the CPD.
His comments came at the unveiling of the CPD’s report State of Bangladesh Economy and the Budget Challenges at the Cirdap auditorium in Dhaka.
Poor performance in revenue collection has hurt investment plan of the government, prompting it to go for loans at higher interest rate, Bhattacharya pointed out.
The balance of payment of the country has come under pressure, he said.
The economist said, the government’s steps aimed at addressing the problems of the banking sector are yet to produce any positive outcome.