Six out of nine key Bangladesh Bank economic indicators signal significant challenges facing the new government, MCCI said in its review of the economic situation between October and December of the current fiscal. These are foreign exchange reserves, import volume, domestic debt, export receipts, food stock and consumer price index (CPI)-based inflation.
The government took quick and decisive measures to address the economic fallout, MCCI noted in its review.
The economy has been showing some signs of improvement in the second quarter of FY24, with both exports and imports performing better, a domestic news outlet cited the review document as saying.
A slowdown in external demand, weak remittance inflow, shortfall in revenue collection and slow public expenditure, rise in inflation, depreciation of the taka, a decline in foreign exchange reserves and low investment were, however, observed in recent months.
ALCHEMPro News Desk (DS)
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