ID :
15273
Fri, 08/08/2008 - 09:10
Auther :
Shortlink :
https://oananews.org//node/15273
The shortlink copeid
BB for coordination between growth, inflation to attain economic stability
DHAKA, Bangladesh, Aug 7 (BSS) - In order to ensure economic stability
and remove poverty for fulfilling the millennium development
target, Bangladesh Bank (BB) would maintain coordination between
the economic growth and inflation.
The central bank would continue its efforts to contain prices
of essential commodities at tolerable levels through its newly
declared monetary policy and for this it is needed to increase
the productivity.
There are some challenges like shortage of power, natural
calamities and socio-political limitations that hamper the
productivity, which should be addressed.
Bangladesh Bank highlighted the aspects in its quarterly
report (April-June 2008) released at a press conference in its
conference room here today.
Chief Economic Officer of the central bank Dr Mustafa K
Majuri and Economic Adviser Habibullah Bahar spoke.
There is a declining trend in inflation after March this
year, Dr Majuri said, adding the inflation on non-food items have
come down to a great extent in the rural areas compared to the
urban areas and as a result the inflation burden on the largest
segment of population in the rural areas has been reduced.
The inflation during June this year has moved higher due to
hike in fuel oil and CNG prices, which is temporary and would
ease immediately, he expected.
Although an economic slowdown was observed at the beginning
of the last financial year, the economy regained momentum during
the end of the last fiscal, he added.
It would be possible to attain the targeted 6.5 percent
economic growth during the current fiscal if the present dynamism
in the economic activities is maintained, he added.
The revenue income during the 2007-08 fiscal increased by 24
percent from that of the previous fiscal, he mentioned.
But the government expenditure has shot up due to higher
expenses to meet increased funds required for providing subsidies
and social safety nets and also for facing the natural
calamities, he said.
In order to explore the short-term economic potentials, the
report suggested creating an investment-friendly business
atmosphere, improving infrastructure including adequate supply of
power and also ensuring socio-political stability.
and remove poverty for fulfilling the millennium development
target, Bangladesh Bank (BB) would maintain coordination between
the economic growth and inflation.
The central bank would continue its efforts to contain prices
of essential commodities at tolerable levels through its newly
declared monetary policy and for this it is needed to increase
the productivity.
There are some challenges like shortage of power, natural
calamities and socio-political limitations that hamper the
productivity, which should be addressed.
Bangladesh Bank highlighted the aspects in its quarterly
report (April-June 2008) released at a press conference in its
conference room here today.
Chief Economic Officer of the central bank Dr Mustafa K
Majuri and Economic Adviser Habibullah Bahar spoke.
There is a declining trend in inflation after March this
year, Dr Majuri said, adding the inflation on non-food items have
come down to a great extent in the rural areas compared to the
urban areas and as a result the inflation burden on the largest
segment of population in the rural areas has been reduced.
The inflation during June this year has moved higher due to
hike in fuel oil and CNG prices, which is temporary and would
ease immediately, he expected.
Although an economic slowdown was observed at the beginning
of the last financial year, the economy regained momentum during
the end of the last fiscal, he added.
It would be possible to attain the targeted 6.5 percent
economic growth during the current fiscal if the present dynamism
in the economic activities is maintained, he added.
The revenue income during the 2007-08 fiscal increased by 24
percent from that of the previous fiscal, he mentioned.
But the government expenditure has shot up due to higher
expenses to meet increased funds required for providing subsidies
and social safety nets and also for facing the natural
calamities, he said.
In order to explore the short-term economic potentials, the
report suggested creating an investment-friendly business
atmosphere, improving infrastructure including adequate supply of
power and also ensuring socio-political stability.
