Published:  03:11 AM, 12 June 2019

Country's macroeconomics under pressure: CPD

Country's macroeconomics under pressure: CPD Centre for Policy Dialogue held a media briefing on the 'State of the Bangladesh Economy and the Budget Challenges' at CIRDAP auditorium in the city yesterday. -Jahidul Islam/AA

Bangladesh's macroeconomics is currently under pressure, claimed Dr Debapriya Bhattacharya, distinguished fellow of Centre for Policy Dialogue (CPD) yesterday. Terming Bangladesh's macroeconomy is now in its most challenging position, Debapriya Bhattacharya blamed the shortfall of revenue, problems in the banking sector and pressure on the Taka-Dollar exchange rate for the condition.

The pressure on macroeconomics will come down if these problems are solved, he told a media briefing on the 'State of the Bangladesh Economy and the Budget Challenges' at CIRDAP auditorium in the city.Debapriya said that the next budget is very important for three reasons - implementation of Awami League's election manifesto, achievement of Sustainable Development Goals and the national 7th five-year plan.

The independent thinktank pointed out that poor revenue collection has hurt the government's investment plans, prompting it to take loans at higher interest rate, which put pressure on the economy.Cutting the interest rate alone cannot solve the banking sector's problems. Good governance is also needed, he added.

CPD's Senior Research Fellow Towfiqul Islam Khan, read out the keynote paper, saying that a liberal bank commission should be formed to resolve banking sector's problems.He said VAT programming and increasing institutional capacity will help increase the rate.





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