Though both exports and imports had done comparatively better, the country has witnessed a slowdown in external demand, weak remittance inflow, shortfall in revenue collection, slow public expenditure, rise in inflation, depreciation of the taka, a decline in foreign exchange reserves, unemployment and low investment in recent months, it noted in its review of the economic situation for January-March period this year.
The country’s economy has been showing some signs of improvement in the quarter, it observed.
The government should also ensure proper supply of electricity and gas, lessen cost of doing business, make efforts to find new export markets, promote economic diversification by revisiting the incentive structure and protect small businesses and low-income people, the chamber was cited as saying by domestic media outlets.
Some economic indicators may see an upward trend in the next two months of the current fiscal.
The country's export earnings are expected to be $4.42 billion in May and are projected at $4.81 billion in June. The import value would also increase to $5.32 billion and $5.38 billion in May and June respectively, MCCI projected.
The volume of inward remittances is also expected to stand at $1.12 billion by the end of May and $2.19 billion in June.
The rate of point-to-point inflation is projected go up marginally to 9.8 per cent from 9.74 per cent in April, while it might reach 9.85 at the end of June.
ALCHEMPro News Desk (DS)
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