The government has fixed a target to increase the money supply to 16.5 percent from the existing 15.6 percent in the next two fiscals. As per a government document, in the 2022-23 fiscal the rate of money supply is at 15.6 percent.For the next 2023-24 fiscal the government has projected
Author: Fahad Ferdous, UNB
Govt aims to reduce budget deficit to 5pc by FY25
The government is projecting to rein in the budget deficit back within 5 percent of GDP by the 2024-25 fiscal from the current 5.5 percent.The budget deficit for the 2023-24 fiscal has been projected at 5.1 percent, according to an official budget document.The revised deficit in fiscal 2021-22 was 5.1
Govt struggles to raise tax-GDP ratio
The government has projected to improve the ratio of revenue to GDP to 10.6 percent in the mid-term (by 2024-25 fiscal), even though the revenue sectors are suffering a lot due to the COVID-19 pandemic and Russia-Ukraine War.The ratio of revenue to GDP expresses total government revenue as a percentage
Govt aims to raise investment to 33.6pc of GDP
The government has projected to upgrade total investment in the country to 33.6 percent of the total GDP on the mid-term basis (in 2024-25 fiscal year) aiming to overturn the economic shock from the COVID-19 pandemic and the Russia-Ukraine war. In this investment, the private sector will contribute 26.65 percent
Govt plans to launch national social safety insurance
The government is keen to introduce a national social insurance scheme in Bangladesh in phases with an aim to enhance social safety of the factory workers and common people, according to an official document. Officials with knowledge of the process say a study has already been conducted on this prospective
Govt keen to expand digital banking
The government is optimistic about expanding digital banking in the country to accelerate financial inclusion with an aim to create more jobs for young jobseekers. According to an official document seen by UNB, the government has stepped in to examine the possibility of "establishing digital banks." It says if digital banking, which
Law planned to handle land-related offences
The government is planning to enact the 'Prevention and Remedies of Land Related Offences Act' to reduce the number of land-related lawsuits as it thinks the major share of the country's criminal and civil cases originate from land disputes. Once enacted, according to an official document, the government thinks that it
More development projects planned to support trade
With a view to building better transport and road infrastructure that would support industry and trade in the country, the government is working for construction of more elevated expressways and large bridges integrating existing bridges, flyovers, highways and tunnels. While economists say the construction of the 6.51-kilometer Padma Bridge at an
Major overhaul of state-run railway in the offing
The government has taken a massive move to upgrade the country's railway network as the sector is considered as the safest, comfortable, affordable and environment-friendly means for transporting passengers and goods. According to an official document, considering the importance of the railway sector the government wants to implement several projects "to
PM for global initiative to fix crisis driven by Ukraine war, Covid
Prime Minister Sheikh Hasina has expressed concern about financial and commercial challenges alongside food and energy crisis facing the developing countries in the wake of the Covid-19 pandemic as well as Russia-Ukraine war. The Premier expressed this concern while Executive Chairman of World Economic Forum (WEF) Professor Klaus Schwab paid a