fiscal policy
Bangladesh’s GDP growth 6.12% in Jan-Mar of FY 2023-24: BBS
Bangladesh’s gross domestic product (GDP) grew to 6.12 percent in the third quarter (January-March) of the fiscal year 2023-24, according to the Bangladesh Bureau of Statistics (BBS). This quarterly GDP update, released today, is part of the requirements for a $4.7 billion loan from the International Monetary Fund (IMF).
Monetary policy should focus on enhancing tax collection
The first six-month monetary policy for the upcoming financial year (2024-2025) is scheduled to be announced in the first fortnight of July. Bangladesh Bank has nearly completed the preliminary work for formulating this policy. However, there is still uncertainty regarding the specific characteristics of the proposed monetary policy.
Integrate fiscal policy harmoniously with upcoming monetary policy
Bangladesh Bank is set to announce contractionary new monetary policies for the first six months of the fiscal year 2024-25, signaling significant changes in monetary policy. This includes adjustments in lending rates, addressing reserve constraints, and refining currency supply policies. These steps come at a time when the country is experiencing severe inflationary pressures.
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