Breaking News
September 19, 2018 - Md Shafiqur Rahman Patwary, Chairman of the Insurance Development and Regulatory Authority (IDRA), unveiling two books ‘Jibon Bima’ ‘Sadharan Bima’ published by Corporate Training Institute Expert Academy at IDRA auditorium in the city on Monday. Dr Mohammad Sohrab Uddin, Actuary of IDRA and other distinguesh from different sector were also present.
September 19, 2018 - Rajesh K Surana, CEO of Lafarge-Holcim Bangladesh, presiding over a roundtable discussion on ‘Improving Safety in Construction Sector’ at a city hotel on Saturday. Architect Professor Dr Nizamuddin Ahmed of BUET, Mohiuddin Babar, Communication Consultant of the company and experts from different organizations also took part in the discussion.
September 19, 2018 - GDP growth hits record 7.86pc, per capita income US$ 1,751
September 17, 2018 - Nilufer Zafarullah, MP, Vice Chairman of the Board of Directors of Midland Bank Limited presiding over its 5th Annual General Meeting at a city auditorium recently. Md. Ahsan-uz Zaman, Managing Director and Mohammad Masoom, AMD of the Bank were also present. The AGM approves 10 pc stock dividends for the year 2017 for its shareholders.
September 17, 2018 - PM opens two bridges on Teesta, Titas rivers
September 17, 2018 - Amir Khasru to face ACC grilling
September 17, 2018 - ‘Jukta Front’s proposals over national unity contrary to constitution: Tofail
September 17, 2018 - EC to conduct polls, govt to do routine work: Quader
September 17, 2018 - Shajahan seeks highest punishment for 21 August culprits
September 15, 2018 - ASM Mainuddin Monem, Deputy Managing Director of Abdul Monem Limited, receiving the CIP card of 2016 for the substantial contribution of the group to the commerce in the country from Industries Minister Amir Hossain Amu, at a hotel in the city on Thursday.
September 15, 2018 - Bangladesh moves up three spots in Human Development Index
September 15, 2018 - New chair and Vice chair of NCC Bank
September 15, 2018 - UITS gets ICT Awards
September 15, 2018 - Daily Tk 994cr transacts thru mobile banking
September 15, 2018 - 56 businessmen get CIP cards
September 15, 2018 - Sheikh Hasina’s birthday to be dedicated to poor people: Quader
September 15, 2018 - Vote for boat to keep development going: Shajahan
September 14, 2018 - Bangabandhu Sheikh Mujibur Rahman Agricultural University gets Islamic Development Bank (IDB) Innovation Technology Awards for wheat research programme. Prof Dr Md Tofazzal Islam of the University receives the award from Prime Minister Sheikh Hasina and IDB President Dr Bandor MH Hazza on behalf of the University at a function in Hotel Radisson Dhaka on Sept 7, 2018.
September 14, 2018 - Hotel InterContinental Dhaka inaugurated
September 14, 2018 - No bar to hold polls as political situation stable: Mahmood
September 14, 2018 - No one will remain homeless in Bangladesh within 2021: Shahriar
September 13, 2018 - Dr. Anwer Hossain Khan, EC Chairman of Shahjalal Islami Bank Limited, presiding over its 752nd meeting at its head office in the city recently. Akkas Uddin Mollah, Chairman of the Board of Directors, Farman R Chowdhury, Managing Director, Khandaker Shakib Ahmed, Md. Sanaullah Shahid, Mohiuddin Ahmed, Engineer Md. Towhidur Rahman and Mohammed Younus, Directors of the Bank were also present.
September 13, 2018 - MohammodiKhanam, CEO of Prime Insurance Company Limited congratulates M. S. Zaman, Managing Director of MicroFibre Group for receiving the commercially important person (CIP) status from Commerce Minister Tofail Ahmed for making exceptional contributions to the country’s economy.Prime Insurance Company Limited is thrilled to be the insurance partner of MicroFibre Group.
September 13, 2018 - Dr. Engr. Rashid A. Chowdhury, Chairman of Bangladesh Commerce Bank Limited, attends a workshop on “Prevention of Money Laundering & Combating Terrorist financing” organized by Muradpur Branch in Chittagong at its premises recently. Zafar Alam, Managing Director (CC), Kazi Md. Rezaul Karim, DMD of the Bank and Md. Mobarak Hossain, Principal of the Bank’s Training Institute were also present.
September 13, 2018 - 56 entrepreneurs gets CIP cards today
September 13, 2018 - Traffic problem of Dhaka to be resolved gradually:PM
September 13, 2018 - ‘Prosecution proves charges against Aug 21 attack accused beyond doubt’
September 13, 2018 - PMO accords reception to officials
September 13, 2018 - Proposed Transport Act to be placed in JS on Sunday: Quader
September 12, 2018 - BKB holds managers’ conference in Khulna
Exports are projected for higher growth in FY18: ADB

Exports are projected for higher growth in FY18: ADB

DHAKA: Bangladesh’s exports are projected to return to a higher growth and rise by 6.0 percent in FY2018 because of some measures including reduction in the corporate tax, expansion of export incentives and improving transport logistics, cargo handling at ports, and customs procedures, according to Asian Development Bank (ADB).

“Exports are projected to return to a higher growth and rise by 6.0 percent in FY2018 and this projection is underpinned by favorable growth in major markets, a shift in market share toward emerging countries that are projected to see faster growth, a reduction in the corporate tax from 20.0 percent to 12.0 percent for the garment industry, expanded export incentives to cover new items, and government efforts to improve transport logistics, cargo handling at ports, and customs procedures,” said the ADB in its Asian Development Outlook (ADO) 2017 published today.

It said the import bill is expected to be higher by 10.0 percent in FY2018. Aided by duty reduction from 28.0 percent to 2.0 percent for rice, food grain imports are set to pick up to offset shortfalls in domestic production, it said, adding that petroleum imports will rise to run rental power plants as demand for electricity increases.

Imports of machinery and raw materials for infrastructure and liquefied natural gas projects will increase the import bill, it said.

The GDP is expected to grow by 6.9 percent in FY2018, unchanged from ADO 2017 but, because of weak domestic demand, slightly below the preliminary official estimate for FY2017, it said, adding that private consumption will likely stay at the current level as income growth slows in agriculture and wage employment and as remittances continue to fall.

Private investment will rise moderately with prevailing political stability and the authorities delivering economic reform and better infrastructure.

The decline in remittances will slow and is unlikely to reverse in the near term, the ADB said, adding that some pickup in export growth is expected, and there is potential for an upside surprise if consumer confidence improves.

Agriculture growth is expected lower at 2.6 percent in FY2018 because of a higher base effect and prolonged flooding that hindered planting for the monsoon crop.

Industry growth moderate to 10.2 percent as falling remittances restrain domestic demand. Services growth will ease to 6.0 percent because of slower growth in agriculture and industry, the ADB said.

The ADB said the government is implementing several transport and energy infrastructure projects to leverage private investment: upgrading rural roads in the southwest; developing the Elenga-Hatikumrul-Rangpur highway in the northwest to four lanes for better connectivity with Bhutan and India; and constructing and upgrading electricity transmission lines to prevent power interruptions.

The Bangladesh Investment Development Authority, set up in 2016, is implementing reform to improve the business climate, including the expected launch by December 2017 of a one-stop business service center.

Inflation is expected to be higher at 6.0 percent in FY2018, but below the 6.3 percent projected in ADO 2017. Crops lost to the floods at the turn of the fiscal year may put further pressure on rice prices, to be partly offset by expected higher imports.

A likely rise in electricity prices and taka depreciation may add to price pressures. Nevertheless, expected moderation in global food prices and weak domestic demand should keep inflation in check.

The implementation of a new value-added tax scheduled for July 2017, after a delay of one year, was deferred again, it said, adding that the second deferment prompted the authorities to retain tax measures adopted in the previous year to help sustain such revenue and to adopt other measures to enhance revenue.

However, attaining the high revenue target will remain a major challenge, and some adjustments to expenditures may be required to meet the drift objective, it said.

Remittance inflows will decline again in FY2018, albeit at a much slower rate of 3.0 percent as fiscal consolidation moderates in Middle East oil producers, it said, adding that the government is trying to encourage migrant workers to send remittances through official channels by cutting heretofore high bank fees for fund transfers, promoting the sale of bonds with higher yields, and offering attractive loans to home buyers.

Forecasts assume that domestic revenues rise in line with budget targets, which must be met to implement the public investment program, and that absorptive capacity improves toward effectively spending a large increase in external financing. Implementation of policy reform and the completion of ongoing power and transport projects vital to reviving private investment, as well as the maintenance of political stability as national elections approach in 2018, said the ADB.

About author

Leave a reply

You must be logged in to post a comment.

AWARD

Reflection Team

বাংলা

স্যান্ডউইচের দামে দেহ বিক্রি করছেন গ্রিক নারীরা!

স্যান্ডউইচের দামে দেহ বিক্রি করছেন গ্রিক নারীরা!

ভেঙে পড়ছে গ্রিসের অর্থনীতি। দুই মেয়াদে ক্ষমতায় এসেও সিপ্রাস সরকার চিত্রটা পাল্টাতে পারেনি। দিন দিন বাড়ছে বেকারত্ব। গোটা দেশটার আর্থ-সামাজিক…

Recent Video

Photo Gallery

Folder not found
wp-content/uploads/2012/02/