Economic Condition analysis of Bangladesh During January-April
Abstract: First quarter of 2009 has its own importance as it starts with the new Political Government which was just elected in End of December’2008. Certain issues raised before this period as the price of staple foods, commodities went high during double digit inflation in the period of Care taker Government. People were expected the Government would at first lower the price of staple foods as it was promised with others sectors like employment, Inflation, Stability in economics. Not all these promises have been fulfilled but some of them are seen to be mitigated and stabilized in this three months period. I wanted to analyze how the Global recession could affect Bangladesh, as during the downturn in the world Bangladesh was the country which felt the pinch after quite a long period than that from the other foreign economies. So, it has been a challenge for Bangladesh to stabilize in economy with a sustained growth in different sectors. It is certainly not possible to say whether it is successful in doing that or not but at least the commodity prices came into a low whereas a number of item’s price is still very high. So I tried to collect the data and information on these aggregates which could relate with the current economy condition of Bangladesh and which has an impact in the stabilizing the economic situation. The aggregates I dealt with are: GDP (Gross Domestic Product), Export, Import, Inflation, Foreign Exchange Reserve and Remittance. These aggregates are selected with the importance they possess on overall performance on economy, price stability, reserves. The analysis has been done based on news and articles published on news papers, journals and information available from government and different organization sources. During this period Bangladesh observed light political turmoil with ground shaking BDR mutiny which eventually could have a long lasting impact in foreign investments and instant impact on the local market. Agriculture sector seemed more prioritized in this period and that is why we have observed the subsidy in fertilizer and diesel, the reason behind this could be to stabilize the food price as Bangladesh already faced higher price of staple food. During this quarter we have observed inflow of remittance is lowered due to significant of workers lost their job though foreign reserve is high.
Abstract: First quarter of 2009 has its own importance as it starts with the new Political Government which was just elected in End of December’2008. Certain issues raised before this period as the price of staple foods, commodities went high during double digit inflation in the period of Care taker Government. People were expected the Government would at first lower the price of staple foods as it was promised with others sectors like employment, Inflation, Stability in economics. Not all these promises have been fulfilled but some of them are seen to be mitigated and stabilized in this three months period. I wanted to analyze how the Global recession could affect Bangladesh, as during the downturn in the world Bangladesh was the country which felt the pinch after quite a long period than that from the other foreign economies. So, it has been a challenge for Bangladesh to stabilize in economy with a sustained growth in different sectors. It is certainly not possible to say whether it is successful in doing that or not but at least the commodity prices came into a low whereas a number of item’s price is still very high. So I tried to collect the data and information on these aggregates which could relate with the current economy condition of Bangladesh and which has an impact in the stabilizing the economic situation. The aggregates I dealt with are: GDP (Gross Domestic Product), Export, Import, Inflation, Foreign Exchange Reserve and Remittance. These aggregates are selected with the importance they possess on overall performance on economy, price stability, reserves. The analysis has been done based on news and articles published on news papers, journals and information available from government and different organization sources. During this period Bangladesh observed light political turmoil with ground shaking BDR mutiny which eventually could have a long lasting impact in foreign investments and instant impact on the local market. Agriculture sector seemed more prioritized in this period and that is why we have observed the subsidy in fertilizer and diesel, the reason behind this could be to stabilize the food price as Bangladesh already faced higher price of staple food. During this quarter we have observed inflow of remittance is lowered due to significant of workers lost their job though foreign reserve is high.