He expressed hope that inflation, which has been a pressing concern, would decrease to a manageable level by the end of the current financial year.
The finance minister highlighted the challenges posed by significant inflationary pressure, stemming from the surge in prices of essential commodities, including energy, in the global market, coupled with rapid fluctuations in foreign exchange rates.
Despite these challenges, he remained confident in the government's ability to mitigate inflationary trends.
He underscored the importance of various initiatives undertaken by the government to curb inflation.
Notably, the Bangladesh Bank is implementing an interest rate target-based monetary policy to enhance the effectiveness of measures aimed at stabilising prices. This includes raising policy interest rates multiple times and removing caps on loan interest rates.
The finance minister also provided insights into the country's economic performance, noting positive developments such as the increase in expatriate income and the resilience of foreign exchange reserves, which are expected to rebound to their original levels by the end of the fiscal year.
He attributed the positive current account balance, driven by growth in exports and reduced import costs, as well as the rise in repatriation income, to the overall improvement in economic conditions.
However, he acknowledged challenges such as negative growth in the financial account, leading to a decline in foreign exchange reserves compared to the previous year.
Despite these setbacks, the minister emphasised the government’s proactive stance in addressing economic challenges and fostering sustainable growth.
Fibre2Fashion News Desk (DR)