Dhaka, Bangladesh
Economy relatively in good shape navigating thru adversity

Economy relatively in good shape navigating thru adversity

PM says, stresses forward planning for next generation

News Report Prime Minister Sheikh Hasina Wednesday said Bangladesh's economy is in rather good shape now despite the pandemic shocks worldwide, as only an Awami League government can steer through such adversities. Speaking to her party hierarchy she noted that her government disproved scepticism of economic doomsayers through prudent planning for the crunch time and kept the wheel of economy moving. The prime minister stressed forward planning for the next generation to have prosperous Bangladesh, so that whoever come to power could tread that trajectory of development. "We placed our budget to keep the economy moving," she said while addressing a meeting of the Awami League presidium at her official residence Gonobhaban, where the party chief also called for shoring up organisational standing down to grassroots level through rebuilding various units. About some macroeconomic health of the country she mentioned that Bangladeshi expatriates are facing some difficulties due to the Covid-19 crisis and some of them have to return home. Many feared that remittance from the wage-earners would experience a setback in this pandemic, but it showed the opposite trend. "Our remittance inflow has increased. It's now USD 39.4 billion. We're giving two percent special incentives for sending remittance….and our foreign- currency reserves are now in good shape as well," she told the party seniors. In the budget, Hasina said, the government fixed its deficit at 6 percent. In the last few years, the budget deficit was fixed at five percent. "We would have made it 10 percent if needed. But it wasn't required..." From the very beginning of this crisis, the government wanted to keep the economy of the country moving, facing all the challenges, she said, adding that the government also declared stimulus packages for keeping trade and commerce functional on a limited scale. Apart from the Covid-19 pandemic, the prime minister said, the government has to face some other natural calamities. "Due to timely effective measurers, we've been able to face these challenges." The prime minister said there was a forecast of prolonged floods in the country and still some rivers are overflowing. "Riverbank erosions have taken a turn for the worse. We're taking steps in this regard, we're trying hard." She came up with the detailed account of the state of economy a day after the Asian Development Bank in its report on economic outlook of Asia and the Pacific said the Bangladesh economy began recovering from the corona shocks despite world economic slowdown. It projected the GDP growth a 6.8 in the current fiscal. The president of Awami League said efforts of the government as well as her party are to serve the people, standing beside them, come what may. She thanked the leaders and activists of Awami League, Juba League, BCL and Krishak League, and government officials and personnel of law-enforcement agencies for their all-out efforts to help people in this crisis period. As Awami League is in power, it thinks about the welfare of the commoners during this crisis moment that engulfed the whole world. She mentioned that this is the policy of Awami League, as guided by the Father of the Nation. Talking about suspending all the programmes of celebrations on the birth centenary of Father of the Nation Bangabandhu Sheikh Mujibur Rahman, she said safety and lives of people come first and that is why the government is holding its programmes virtually. With agency inputs

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