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INSTITUTIONAL FRAGILITY OF CENTRAL BANKING IN BANGLADESH

MONTHLY BANGLADESH ECONOMIC UPDATE, MARCH, 2016

MEU-March-2016The current issue of the Bangladesh Economic Update reveals the institutional fragilities of the country’s central bank against the backdrop of low effectiveness of monetary policies and poor risk management, driven by lax oversight and captured governance, resulting in scams, declining growth in disbursement of credit to private sector, rising non-performing loans, and excess liquidity.  Noting the linkage between expansion of credit and growth in investment, the Unnayan Onneshan cautions that sluggish rate of growth in private sector credit will further drag down investment and consequently slide down the expansion of the gross domestic product (GDP). Pointing to the increased non-performing loans and low returns on asset and equity, the think-tank observes that the sector is inundated with severe structural rigidities resulting in the disappointment of risk management in the sector. The Unnayan Onneshan recommends improvement in supervision and regulatory capacity of the central bank and streamlining of enforcement of prudential guidelines in order to check the incidences of scams and fraudulence and thus to ensure efficacy of risk management in the banking system.

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RECENT TRENDS IN AGRICULTURE, INDUSTRY, AND SERVICE SECTORS

MONTHLY BANGLADESH ECONOMIC UPDATE, FEBRUARY, 2016

MEU Oct 2015The issue of the Bangladesh Economic Update cautions that lower growth in agriculture, underperformance in medium and large scale manufacturing industries coupled with greater product and market concentration of export, and slow expansion of service sector may hinder the achievement of 7 per cent growth target.  Calling for adoption of strategies particularly focusing on the expansion of productive capacity, the Unnayan Onneshan advocates prudent harmonisation of macroeconomic policies that will foster agricultural growth, bolster industry, and expand service sector by creating adequate employment opportunities in the economy.

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PUBLIC INVESTMENT IN PHYSICAL AND SOCIAL INFRASTRUCTURE: AN APPRAISAL

MONTHLY BANGLADESH ECONOMIC UPDATE, JANUARY, 2016

MEU-January-2016The Bangladesh Economic Update  reveals that the low implementation status of public investment in physical and social infrastructure in the backdrop of continued sluggish private investment may hinder achievement of the targeted rate of growth in gross domestic product (GDP).  Taking account of five major sectors of public investment - roads and highways, bridges, heath, education, and social security and welfare - the research organisation evinces that the annual development programme (ADP) implementation status in these sectors became lower during July-December period of FY 2015-16 than the corresponding period of the previous fiscal year.   Taking account of the unsatisfactory quality of public investment in physical and social infrastructure and current state of sluggish private investment due to infrastructure shortage and lack of business confidence, the research organisation emphasises that the government must focus on stimulating private investment and ensuring effective utilisation of public investment in addition to channeling adequate resources into social sectors that give particular impetus to the improvement in human development.

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HALF-YEARLY ASSESSMENT OF BANGLADESH ECONOMY: TRENDS AND CHALLENGES

MONTHLY BANGLADESH ECONOMIC UPDATE, DECEMBER, 2015

MEU-December-2015The Unnayan Onneshan in its half yearly assessment of the economy for FY 2015-16 states that sluggish private investment, declining growth in revenue collection, and underperformance in external sector set inertia on the growth in gross domestic product (GDP). In addition to unsatisfactory trends in these major macroeconomic indicators, improvement in three basic dimensions of development – long and healthy life, access to knowledge, and decent standard of living – has not moved upward compared to those of other developing nations, as reflected in the Human Development Report 2015.    The think tank also points out that that structural bottlenecks in the forms of income inequality together with inequality in access to health and education, multidimensional poverty, and joblessness particularly among the youth are likely to put additional pressures on the progress of the economy.

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REVENUE MOBILISATION: TRENDS AND CHALLENGES

MONTHLY BANGLADESH ECONOMIC UPDATE, NOVEMBER, 2015

MEU-November-2015The Bangladesh Economic Update November 2015 reveals that declining rate of growth in total revenue collection since FY 2011-12 together with failure to achieve the potential of higher revenue mobilisation is likely to shrink development financing. Urging for increasing strength and effectiveness of the tax administration, the Unnayan Onneshan suggests that the government must administer its fiscal management in a way that would broaden the taxpayers’ base on the one hand and ensure the provision of necessary services to the citizens in return for their payment of tax on the other.

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