GDP
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.
Political shifts occur, but market syndicates persist
It has been less than two and a half months since the interim government took charge, making it premature to conduct an in-depth analysis of its successes or failures. This government assumed responsibility amid complex challenges in both the political and economic realms. Its primary duty is to enact effective reforms in political and economic sectors to facilitate broad-based, participatory national elections that are considered credible both nationally and internationally. With this objective, the government has embarked on various reform initiatives, forming several committees to propose recommendations, which are expected within the next three months.
ISPR requests not to get misled by rumours over security of St. Martin’s
Inter Services Public Relation Directorate (ISPR) has urged all not to be misguided by rumours spreading through social media over the security of St. Martin’s island centering Myanmar's ongoing internal conflict near the island.
Many countries want to trade with Bangladesh: EU Ambassador
European Union (EU) Ambassador and Head of Delegation to Bangladesh Charles Whiteley has said that many countries are interested to trade with Bangladesh.
Tk21,930cr revenue deficit in 9 months of current FY
In the first nine months of the current financial year 2023-24, 63.5 percent of the annual revenue target has been met.
IMF further lowers Bangladesh's growth to 5.7%
International Monetary Fund (IMF) again revised down the growth forecast for Bangladesh's economy to 5.7% for the current fiscal year 2023-24.
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