Regional & International Economy

The Bangladesh Bank has said that the country’s growth prospect is clouded by a number of uncertainties, including higher input costs and a decline in exports in Europe amid the Russia-Ukraine war. The central bank came up with the caution in its January-March quarterly report of 2022. The caution came …

Bangladesh is now a role model of increasing inequality, said Anu Muhammad, a prominent economist and professor of economics at Jahangirnagar University. He made the remark at a seminar titled ‘National Budget 2022-23: Expectations and Realities of All,’ organised by the Department of Economics, Jahangirnagar University (JU) on Sunday (June …

The proposed national budget has not safeguarded the country’s middle class, which is facing a three-pronged challenge of a discriminatory domestic economy, spiralling product prices in international markets and ongoing floods, said economist Debapriya Bhattacharya yesterday. “(The finance minister) hasn’t paid attention to the middle class (in the proposed budget). …

Russian hostilities in Ukraine are preventing grain from leaving the “breadbasket of the world” and making food more expensive across the globe, threatening to worsen shortages, hunger and political instability in developing countries. Together, Russia and Ukraine export nearly a third of the world’s wheat and barley, more than 70% …

Bangladesh Chamber of Commerce (BCI) has demanded simplification of the taxation system saying that people feel reluctant to pay taxes due to complexities. “The taxation system must be simple and taxpayers-friendly so that people feel encouraged”, said BCI president Anwar-ul-Alam Chowdhury (Parvez) while addressing a press at the BCI Conference …

There is no budgetary measure to protect the limited disposable income of the middle-class which is being depleted due to high food inflation, said Debapriya Bhattacharya, distinguished fellow of the Centre for Policy Dialogue. “Prices of selected products are likely to increase due to tax imposition that would adversely effect …

The Asian Development Bank (ADB) and the government of Bangladesh yesterday signed agreements for a $143 million policy-based loan to improve the volume, efficiency, predictability and security of cross-border trade in Bangladesh. Fatima Yasmin, Secretary, Economic Relations Division, and Edimon Ginting, Country Director, ADB, virtually signed the agreement on behalf …

Tax net expansion is essential to improve the Tax-GDP ratio and the government must take steps to enhance the tax net, said experts at a programme on Thursday. The experts made the comments at a virtual webinar titled ‘Salient Features of Finance Bill 2022-2023’ organised by the Institute of Chartered …

Bangladesh and other graduating least-developed countries (LDCs) might not have received a clear-cut extension of the current duty-free trade benefit at the ministerial conference of the World Trade Organization (WTO) that concluded today (June 17, 2022), but their demand was recognised at the declaration. After an intense negotiation for nearly …

From the next fiscal year, government agencies, implementing authorities of various publicly funded projects and corporate entities will come under greater scrutiny of taxmen as the National Board of Revenue has toughened rules to plug scope of avoidance regarding withholding tax deductions and payments. The tax administration, for the first …