Exports posted robust growth during the period, along with increased earnings from remittance inflows, the chamber said in a review of economic situation in the country between October and December last year.
The slide in foreign exchange reserves was stopped, and the exchange rate of the taka against major currencies stabilised, although some volatility in the reserve position continues to persist, the report noted.
Improvements in trade, the current account balance, and the overall balance of payments allowed for some easing of import restrictions.
However, the report said, the economy is still facing substantial hurdles, including inflationary pressures, a shortfall in revenue collection, slow public spending, diminished job opportunities, a sluggish investment climate and the need to rebuild public confidence in the banking system, according to domestic media outlets.
The MCCI report noted that restoring law and order is indeed a critical priority to create a stable environment for economic activities.
ALCHEMPro News Desk (DS)
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