Bangladesh's imports fell sharply in the immediate past FY23 as opening of letters of credit (LCs) dipped due to scarcity of US dollars and restrictions on the purchase of luxury items from external sources. Private and public entities opened LCs of $69.36 billion in FY23, down 26% year-on-year from $94.26 billion
Tag: FY23
Energy division implements cent percent RADP in FY23
The Energy and Mineral Resources Division succeeded in fully implementing its revised annual development programme (RADP) for the recently concluded 2022-23 fiscals. This was revealed today during a meeting of the Power Division on "Implementation Progress Review of Power Division Development Projects from July 2022 to June 2023". While virtually addressing the
FY23 ends with Tk 44000cr revenue shortfall
Export earnings fetch record $55.55 billion in FY23
Bangladesh exported goods and services worth a record $55.56 billion in the just-concluded 2022-23 fiscal, an increase of 6.67 percent year-on-year even amid the global economic slowdown, the Export Promotion Bureau (EPB) revealed on Monday. Exports increased by $3.47 billion or 6.67 percent in FY23 compared to FY22, when the export
Economy offers reasons for optimism despite problems
Economists are hopeful that Bangladesh's economy will regain the growth momentum while reducing inflation and stabilising the exchange rate in the New Year. Despite higher inflation and fluctuating currency exchange rate, record defaulted loans, they are optimistic about the overall growth of the domestic economy, which is predicted by the
BB raises agri-lending target by 8.88pc
Bangladesh Bank (BB) has raised the agriculture and rural loan disbursement target by 8.88 percent to Tk 30,911 crore for the current 2022-23 financial year (FY23). The disbursement target for the immediate past 2021-22 fiscal year (FY22) was Tk 28,391 crore, said a BB press release issued Thursday. Considering the increased demand
JS passes Finance bill 2022, budget for FY23
The Jatiya Sangsad has passed the finance bill 2022 with a surprise late change to the proposal on repatriation of money laundered abroad. The opportunity in the proposed budget to bring back both movable and immovable assets has been cancelled through an amendment on the Finance Bill-2022 by the members of
BASIC Bank signs APA for FY23
BPGMEA holds workshop on budget for FY23
Bangladesh Plastic Manufacturers and Exporters Association (BPGMEA) organised a workshop on National Budget for FY2023 on Monday at at the BPGMEA Conference Room. FBCCI Advisor (Chartered Accountants) Snehasish Barua delivered speech at the workshop. BPGMEA President Shamim Ahmed presided over and highlighted the important aspects of the budget prepared for the
Budget: Dr Atiur for reconsidering some tax proposals
Former Governor of Bangladesh Bank and Unnayan Shamannay Chair Prof Dr Atiur Rahman has said certain tax proposals of the proposed budget for FY 2022-23 need to be reconsidered to help improve the overall budget. He urged to reconsider the tax proposals related to- increasing source tax on interest income of