Bangladesh economy facing multi-pronged challenges: CPD

Only a selfless and strong political leadership can take the difficult path of reforms and actions to rescue the economy and deal with the risks and uncertainties that loom on the horizon, the Centre for Policy Dialogue (CPD) has said.

The opinion was expressed at a CPD media briefing titled 'State of the Bangladesh Economy in FY2023-24' held Saturday. 

CPD Executive Director Dr Fahmida Khatun read out the report, while Distinguished Fellow Professor Mustafizur Rahman, and Research Director Dr Khondaker Golam Moazzem, among others, were present.

According to the report, the economy is going through unprecedented challenges, and these are not going to recede to the back front even after the national elections scheduled to be held on January 7, 2024.

In view of the ongoing economic challenges emanating from various fronts, the key task confronting the policymakers is to restore macroeconomic stability by taking into cognisance the current economic realities and identifying concrete measures to address these.

CPD also added that high inflation is eating away at the purchasing power of low-income people, and market manipulation and syndication are exacerbating the situation.

Now that the economy is facing such multipronged challenges, and the country truly stands at a crossroads, one only hopes that policymakers will understand and appreciate that business-as-usual will not do.

Only a selfless and strong political leadership can venture into taking the difficult path of reforms and actions to rescue the economy and deal with the risks and uncertainties that loom on the horizon.

/KN/