State of the Bangladesh Economy in FY2023-24 (First Reading)
Independent Review of
RBD
Bangladesh's Development
Introduction
☐ The economy of Bangladesh is currently navigating through a host of challenges
originating both from the domestic and the global fronts
➤ Economic recovery from the COVID-19 pandemic was disrupted due to the Russia-Ukraine war. High
global commodity prices, supply chain disruptions, and synchronous global monetary policy tightening
created considerable pressure from the external fronts
Besides these exogeneous factors, longstanding structural weaknesses, sub-optimal policies, lax policy
implementation, and inability to implement the required reforms in the domestic arena have added to
the pressure
The pressure points became expressly visible through, inter alia, slow pace of revenue
mobilisation, high prices of essentials, tightened liquidity situation of scheduled
banks, high volume of non-performing loans, deteriorating external sector
balance, and fast depleting foreign exchange reserve
While the required steps have been identified, and at the forefront of policy discourse,
many have been put on hold citing the upcoming national elections as the key reason
CPD (2023): State of the Bangladesh Economy in FY2023-24 (First Reading)
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