GDP
Contractionary monetary policy alone can’t solve inflation woes
The Bangladesh Bank announced the second monetary policy of the current fiscal year on February 10, 2025. This was the second monetary policy for the fiscal year 2024-25 and the first policy under the interim government. There was considerable anticipation regarding the announced policy, and many experts had expected it to be contractionary in nature. Indeed, the policy can be described as contractionary in terms of its characteristics, as it focuses more on controlling the existing high inflation rather than achieving high growth.
Private sector investment key to sustainable development
Every nation strives to achieve rapid and sustainable development. The core responsibility of any government is to ensure the optimal use of limited resources to maximize public welfare and elevate the country to the peak of development. A government that fulfills this responsibility effectively and brings development to all sectors of society is considered a government committed to public welfare. Many people believe that simply achieving economic development will fulfill the primary goal of development, but this belief is not entirely accurate. Development is a comprehensive concept, not limited to just economic progress. While economic development is an important indicator, it is not the sole measure of overall development. In other words, without achieving positive progress in other development indicators alongside economic growth, it cannot be considered balanced development. Economic growth is crucial, but it is not the only criterion for developmen
Why no commission for education reform?
The interim government has formed several commissions to implement reforms in various sectors. These committees have already submitted their reports with recommendations to the government. However, the unfortunate reality is that no commission has been formed to reform the nation’s backbone — the education system. Although several commissions in the past have submitted reports for educational reforms, no government has implemented the recommendations of these education commissions. As a result, the current education system is unable to meet the demands of the times. We are producing a highly educated workforce, but there are doubts about how well-educated they actually are and whether they can contribute to building a prosperous state. Without creating a modern, technology-driven, and vocational education system, the nation will never reach its desired goals. The workforce our education system is producing is not capable of competing on the international stage.
What message does world receives from Trump's 'America First' doctrine
Donald Trump is returning to the White House for a second term, and this return could bring significant changes to global politics and economics. It is believed that once Trump resumes his duties as the President of the United States, he will begin implementing his declared "America First" policy. This agenda will not only change the intricacies of US foreign policy but will also have a profound impact on the lives of millions of people living outside America's borders. There is much speculation about how Trump's approach to major international issues might unfold. During his election campaign, Trump repeatedly stated that he could end the Russia-Ukraine war in a day, though he never clarified how he would achieve this.
State action needed to harness demographic dividend
In the 1980s, the then military dictator General HM Ershad described uncontrolled population growth as the "number one national problem." Although his statement created a stir at the time, it was a completely misleading comment. Population growth, whether planned or unplanned, can never be the number one national problem for a country. Population is an irreplaceable resource. The progress of the world cannot be imagined without it. If population is systematically trained and transformed into a skilled and productive workforce, it becomes the nation's greatest asset. However, if population growth is unmanaged, it becomes a burden for the country. The responsibility of turning the population into human capital lies solely with the state. The state cannot escape the blame for its failure to do so.
Why sudden VAT hike amid soaring prices?
While vegetable prices have started to decrease slightly in the middle of winter, the prices of essential goods are still out of control. The prices of rice, lentils, and oil are beyond reach for most people. Recently, the price of chicken also increased. Amid all this, there is bad news for consumers at the beginning of the new year: VAT has been increased on 65 goods and services. This sudden VAT hike has been imposed under pressure from the IMF. Moreover, midway through the current fiscal year (2024-25), the government has taken the step of increasing VAT, supplementary duties, and other taxes to boost revenue. Initially, 15 per cent VAT will be imposed on 65 types of goods and services. This news is concerning for ordinary people who are already suffering from the pressure of inflation.
Financial crisis is not so critical
During a workshop titled "Inequality, Financial Crimes, and the Healing of Bangladesh's Economy," organized by Bonik Barta on November 11, 2024, at the Pan Pacific Sonargaon
Is BRICS equipped to confront its challenges?
Russian President Vladimir Putin closed the BRICS summit, a bloc of developing economies, in the last week of October. Sanctions from the West have been aimed at cutting off Russia's economy from global markets. The conclave was the largest gathering of world leaders in Russia in decades. The 3-day summit attended by the highest officials of 36 countries was a testament to the West's failure of trying to isolate Russia and Putin globally.
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