Ministry preparing economic roadmap for next govt
Tuesday, 2 December 2008
Shakhawat Hossain
The finance ministry has initiated formulation of an economic roadmap for the next elected government to help it tide over a deepening global financial crisis, official said Monday.
It will prepare such a roadmap in line with suggestion of the caretaker government as a longer than expected financial downturn in major economies might adversely affect the country's export and remittance.
The steady growth in export and remittance is seen vital for the country's economy amid the volatility in commodity prices, which until the middle of the year caused a severe balance of payment crisis, they said.
"The roadmap will be completed by the end of this month with special emphasis on export and remittance," said a senior finance ministry official.
It is expected to be a most useful document for the next elected government to get a clear picture about the country's present economic situation and next course of actions.
Details of economic activities of the interim government during last two years will also be included in it, added the official.
The finance ministry has already collected documents from the financial institutions and regulators like Bangladesh Bank, Securities and Exchange Commission, National Board of Revenue, Economic Relation Division, Export Promotion Bureau and Board of Investment.
The ministry officials said there has been a debate on the short term impact on the country economy due to the global financial crisis.
The World Bank has projected the country's economic growth at 4.8 per cent to 5.4 per cent in fiscal 2008-09.
The WB projection on the growth has been turned down as baseless by many including the finance and planning adviser and the central bank officials.
However, the local experts have no doubt about an adverse impact on the country's economy if the global financial crisis prolongs for a more than expected period, said the officials.
The finance ministry has initiated formulation of an economic roadmap for the next elected government to help it tide over a deepening global financial crisis, official said Monday.
It will prepare such a roadmap in line with suggestion of the caretaker government as a longer than expected financial downturn in major economies might adversely affect the country's export and remittance.
The steady growth in export and remittance is seen vital for the country's economy amid the volatility in commodity prices, which until the middle of the year caused a severe balance of payment crisis, they said.
"The roadmap will be completed by the end of this month with special emphasis on export and remittance," said a senior finance ministry official.
It is expected to be a most useful document for the next elected government to get a clear picture about the country's present economic situation and next course of actions.
Details of economic activities of the interim government during last two years will also be included in it, added the official.
The finance ministry has already collected documents from the financial institutions and regulators like Bangladesh Bank, Securities and Exchange Commission, National Board of Revenue, Economic Relation Division, Export Promotion Bureau and Board of Investment.
The ministry officials said there has been a debate on the short term impact on the country economy due to the global financial crisis.
The World Bank has projected the country's economic growth at 4.8 per cent to 5.4 per cent in fiscal 2008-09.
The WB projection on the growth has been turned down as baseless by many including the finance and planning adviser and the central bank officials.
However, the local experts have no doubt about an adverse impact on the country's economy if the global financial crisis prolongs for a more than expected period, said the officials.