Sri Lanka
Discrimination-reducing budget expected from interim govt
In the face of a challenging global economy, creating a budget in a densely populated country like ours is a difficult task. It cannot be confined within the conventional rules of economics. Among the sectors essential for the social, economic, moral, and intellectual development of a nation, education is one of the most important.
Agriculture sector needs to be prioritised in upcoming budget
The new budget is knocking at the door. The budget for the 2025–26 fiscal year may be presented on June 2. The preaparing the budget is currently underway. It has already been reported that the size of the upcoming budget may be Tk 7.9 trillion. Compared to this year’s original budget, it will be Tk 70 billion less. For the first time since independence, the budget size is decreasing in monetary terms. Undoubtedly, this will be a contractionary budget. Due to ongoing high inflation, slow revenue collection, and lack of capacity in budget implementation, a tight budget is indeed desirable for us.
Ensure the workers' right to survival
Today is May 1, the International Workers’ Day, globally known as May Day. On this day in 1886, workers in Chicago, USA, sacrificed their lives demanding dignity of labour, fair wages, and an eight-hour workday. In honour of their sacrifice, countries across the world, including Bangladesh, observe this day as a symbol of the fight for workers’ rights. Every year, Bangladesh observes the day with due respect, declaring it a public holiday. The media runs special reports, and various events are held to discuss workers' issues. But what is the actual condition of workers in Bangladesh?
Before signing an agreement with China, its preconditions must be verified
The Chief Adviser of the Interim Government, Dr. Mohammad Yunus, is scheduled to visit China on a four-day state visit on March 26. This will be Dr. Mohammad Yunus' first bilateral state visit to China since taking over the responsibility of state administration. While there are various reasons why Dr. Yunus' visit to China is significant, the most important aspect is strengthening bilateral economic relations. The visit is also politically significant, but it is expected that economic issues will take precedence. China's economic influence worldwide cannot be denied. At present, China is one of the largest financial aid providers globally. China has been generously providing financial assistance to various countries, including Sri Lanka and Bangladesh.
Deficits and tariffs: Trump confusions and what can be done about them
The US has a persistent trade deficit with Sri Lanka. Despite almost universal agreement among economists that trade deficits, especially between two countries, are not meaningful, President Trump believes otherwise. As he assumed office, he asked his officials to “investigate and remedy” persistent US trade deficits. Sri Lanka-US trade shows a deficit of USD 2.6 billion following an increase of 6.3 percent in 2024. Sri Lanka was responsible for 0.28 percent of the total US trade deficit. Even if it were eliminated, there would be no discernible impact on the total.
A fruitful outcome expected in Champions Trophy
International cricket tournaments hold a distinct charm and attraction in the subcontinent. Every international cricket event turns into an unplanned festival, where millions of people immerse themselves in the celebration. This joyful festivity influences individuals, families, and society, even altering the daily rhythm of life. Cricket, often called the "king of uncertainty," captivates fans because of its deep resemblance to life itself. Just as life's unpredictability makes it beautiful, so does cricket.
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.
Ask yourself once, please
Vandalism in Bangladeshi politics is nothing new. Since the 1990s, we have repeatedly witnessed destruction in various movements, demands, strikes, blockades, and protests. Over the past three decades, we have even seen fires set to moving passenger buses and trains, causing casualties. Yet, we have failed to establish a political culture free from such destruction.
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.
Excessive foreign debt erodes financial independence
In the 1970s, an American development economist visited Bangladesh. At one point, he gave a speech to the faculty members of Dhaka University. The economics department’s professors were notably present at this event. During his address, the American economist presented his views on why Bangladesh’s economic development was not progressing to the desired level. The professors in attendance listened intently to his words. At that moment, a young economics professor from Dhaka University stood up and said to the American economist, "The reason we are unable to achieve the desired level of development is because you are intervening in our economy in various ways." After a brief pause, the American economist replied to the young professor, saying, "If 80 percent of the funds for your country's development activities come from us, whose economy is it? If you were able to finance your development from domestic sources, we would not need to offer any advice." Hearing this, the young professor remained silent and sat down.
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