Monthly Bangladesh Economic Update, February 2017
The Unnayan Onneshan (UO), an independent multidisciplinary think-tank, in its monthly publication of the ‘Bangladesh Economic Update’ February 2017 reveals declining growth in two major external sector indicators – export shipment and wage earner’s remittance, and consequential deficit in current account balance are likely to exert pressure on the country’s balance of payment.
Calling for a thorough reexamination of the current trade and industrial policies to address the structural bottlenecks and creation of a stable business climate to attract increased inflow of private investment including FDI, the UO urges for the adoption of new strategies aimed at expanding country’s productive capacities that enhance utilization of available resources through efficient entrepreneurial capabilities and increased production linkages.
Referring to declining rate of growth in inflows of wage earner’s remittance, the think tank shows that the inflow of remittance declined by 17 percent and amounted to USD 8112 million in July-February of FY 2016-17 compared to the corresponding period of the preceding fiscal year. On monthly basis, the remittance inflow stood at USD 936 million in February 2017 (a decline by 17.6 percent from February 2016), which is lowest in the first eight months of the current fiscal year.