Experts at a seminar on Sunday stressed that boosting private sector credit flow is indispensable to revive growth.
They suggested leaving foreign exchange rates more market-driven rather than through central bank intervention.
Dhaka Chamber of Commerce & Industry (DCCI) organized the seminar on “Bi-annual Economic State & Future Outlook of Bangladesh Economy-Private Sector Perspective” at DCCI auditorium
Dr. Monzur Hossain, Member (Secretary), General Economics Division, Bangladesh Planning Commission, GoB attended the seminar as the Chief Guest with DCCI President Taskeen Ahmed in the chair.
Speaking as the chief guest, Dr. Monzur Hossain, Member (Secretary), General Economics Division, Bangladesh Planning Commission, GoB said that it is a matter of relief that our macro-economy has shown some stability with foreign reserves reaching USD 30 billion.
Though inflation rate has slowed down, due to rising rice prices it still remains a concern. If we can control the rice prices, we believe the inflation would come down significantly.
In his keynote presentation, DCCI President Taskeen Ahmed shed light on the global economic situation, monetary policy, inflation, private and foreign investment, agriculture, industry and service sectors, CMSMEs, ICT, energy and power, logistics infrastructure, skills development, and the financial sector covering the January–June period of FY 2024–25.
He noted that due to a significant rise in tariffs and trade barriers, global economic growth has slowed down, with forecasts projecting global GDP growth at only 2.3% in 2025. Consequently, most economies are expected to experience further slowdown compared to last year.
Dr. Mustafizur Rahman, Distinguished Fellow, Centre for Policy Dialogue (CPD)stated that although inflation has declined, the overall price level still remains high, eroding consumers’ purchasing power.
He said that the RMG sector in our country has come this far by enjoying bonded warehouse and bank-to-bank LC facilities.
He underscored the importance of extending these same facilities to other promising export sectors which would expand Bangladesh’s export basket.
Dr. A.K. Enamul Haque, Director General, Bangladesh Institute of Development Studies (BIDS)said that the economy is performing relatively well considering the strong headwinds but it is not ideal for long-term sustainability.
