While speaking at a press conference on 'Economic Outlook for Asia Pacific’ IMF Director for the Asia and Pacific Department (APD) Krishna Srinivasan termed Bangladesh economy on the right track.
It is good to note that the authorities in Bangladesh have already taken significant measures to address macroeconomic challenges. They have tightened monetary policy to reduce inflation. They have allowed more flexible exchange rate.
The world is now facing a complex combination of challenges because economic recession is created. All are very much anxious and apprehend that many countries especially developing and least developing ones are facing financial hardships as the economic recession deepens.
However, Prime Minister Sheikh Hasina-led Awami League government has been trying its best to keep the country’s economy vibrant despite the world is going through a global economic recession due to the Covid-19 pandemic and Russia-Ukraine war. Her (Sheikh Hasina) government is building Bangladesh with the ideal of Father of the Nation Bangabandhu Sheikh Mujibur Rahman. They have been able to transform Bangladesh into a developing country.
One day this Bangladesh will be built as a developed and prosperous country. Country’s people believe after tackling the odds and handling conspiracies threat, Sheikh Hasina’s bold action has brought the country’s economy back on track.
The government
must focus on
increasing revenue
collection
A conducive and business friendly environment is prevailing in the country due to liberal trade policy and various supports provided by the government in line with the aim to build the ‘Golden Bengal’- dreamt by Bangabandhu. Bangladesh has now emerged as an attractive destination for the foreign entrepreneurs, investors and importers. Moreover, the implementation of several important mega projects including the Padma Bridge and increase in power generation has given momentum to the economy, which is playing a supporting role in attracting foreign investment and increasing export earnings. People from various professions are now working at their respective workplaces.
As all factories, industries, mills, offices, hotels, motels, restaurants, tourist spots, shopping malls and all other business activities are running now in full, country sees strong economic growth. Besides, various stimulus packages were provided by the government to the affected industries and businesses have resulted in a turnaround of the export-oriented sector. Apart from Covid-19 pandemic and Russia-Ukraine war, the government faced various natural disasters like flash flood and cyclonic storm which affected many districts of the country in the last three years. On the other hand, the prices of essential commodities have increased across the world, not only in Bangladesh, due to the impact of the Covid-19 pandemic and the Russia-Ukraine conflict. Price of everything has increased in the country due to the impact of the global market.
Cashing this crisis, some elements led by BNP-Jammat clique are now very active in plotting against the country and government as well. Like in the past, they have already stepped up their ill-efforts ahead of the next 12th parliamentary elections in order to overthrow the government and install a dictator being imbued with the anti-liberation thought. It is feared that a plot is being hatched to make the country unstable.
