Editorial

Tough times ahead for economy

Devise prudent measures to accelerate economic recovery


Bangladeshpost
Published : 05 Oct 2022 08:10 PM | Updated : 05 Oct 2022 08:10 PM

Prime Minister Sheikh Hasina asked her senior party men to be on the highest alert over the growing array of economic challenges across the globe. Various discussions on the latest global economic crisis took places during the 77th session of the United Nations General Assembly. All member states are very much anxious and apprehend that there might be a grave famine in 2023 when the economic recession will be deepened.

During a meeting of the Awami League’s Parliamentary Board and Local Government Representative Nomination Board at Ganabhaban on Tuesday night, Prime Minister Sheikh Hasina cautioned the situation may take a serious turn next year as every sector of the world economies is facing a growing array of difficulties and challenges. Therefore, the ruling party stalwarts must convince the people to maintain austerity, do saving and avoid extra expenditure to overcome the tough time. 

Not only the developing nation but also developed countries are struggling to provide electricity, energy and fuel while the inflation crisis caused by price hike of everything continues crippling the financial sector. The crisis may have a huge negative impact on our economy and employment in coming days.

The government will have

 to be determined to overcome 

the current crisis, save

 lives and accelerate

economic recovery

Our economy is still in good shape and also heading towards the right direction despite the impact of Coronavirus pandemic coupled with Russia-Ukraine war now taking a toll on the global economy. The government will have to be determined to overcome the current crisis, save lives and accelerate economic recovery.

It should be the Awami League front ranking leaders’ moral obligation to execute Sheikh Hasina’s directive and stay beside people so that we all would be benefitted.

Increase in financial and business activities during country’s Hindu community religious festival Durga Puja has provided huge cash flow. As people’s movement since Durga Puja continued showing an upward trend, a huge amount of cash money is also being transacted in the transport sector. Besides, the foreign currency reserve and inflow of remittances are also rejuvenating the country’s financial sector. We believe the gloomy cloud that covered the country’s economy will go away soon.