Publication:
Bangladesh Development Update, October 2013

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dc.contributor.authorWorld Bank
dc.date.accessioned2014-01-28T16:51:03Z
dc.date.available2014-01-28T16:51:03Z
dc.date.issued2013-10
dc.description.abstractEconomic performance has remained resilient to global headwinds and disruptive politics in Bangladesh in FY13. Gross Domestic Product (GDP) growth decelerated for the second year in a row to 6 percent. Disruptions caused by political strife, deepening political tensions relating to the impending political transition and the inadequacies of improvements in the provision of power, gas and infrastructure were the key factors in the growth slowdown. These contributed to weakening investor confidence leading to a 1.2 percent decline in the private investment rate. Recovery in remittance growth contributed to sustaining private consumption growth which combined with a significant rise in public investment and robust increases in exports helped maintain GDP growth above the average 5 percent growth in developing countries in 2013. Growth declined in both the agriculture and service sectors while industrial growth increased slightly. Inflation decelerated but remained high. Annual average inflation declined from 8.7 percent in FY12 to 6.8 percent in FY13. External balances have improved further. The external trade deficit decreased significantly due primarily to an increase in export growth over FY12 and flat import payments. The banking system remains under stress and capital market activities have been weak. Several financial scams and resultant loan defaults in the state-owned commercial banks moved them into a position of insolvency, which needs to be urgently addressed. The most pressing challenges lie in maintaining economic and financial reforms, rebuilding the image of the garment sector, and removing supply bottlenecks. Some structural reforms have moved forward. The International Monetary Fund's extended credit facility is on track with significant progress in strengthening macroeconomic conditions and structural policies under the extended credit facility arrangement. The new value added tax law has moved firmly into the implementation phase; the National Board of Revenue has introduced an online tax registration system; amendments to the Banking Companies Act have been passed and progress is being made in identifying critical weaknesses in the state-owned commercial banks; the FY14 budget introduced revenue reforms such as increasing the corporate profit tax rate on cigarette manufacturing companies and reducing the nominal protection rate to 28.1 percent in FY14 from 28.9 percent in FY13. Removing Bangladesh's favored access to the United States market under the Generalized System of Preferences program may not hurt Bangladesh's garment industry unduly. If the European Union were to suspend Bangladesh's favored access to its markets, Bangladesh could see its total exports fall by as much as 4.1 to 8 percent.en
dc.identifier.doi10.1596/16644
dc.identifier.urihttps://hdl.handle.net/10986/16644
dc.language.isoen_US
dc.publisherWashington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectadverse impact
dc.subjectAggregate demand
dc.subjectAgricultural output
dc.subjectagriculture
dc.subjectarrears
dc.subjectauction
dc.subjectbalance of payment
dc.subjectbalance of payments
dc.subjectbanking sector
dc.subjectbanking system
dc.subjectbase year
dc.subjectbenchmark
dc.subjectbeneficiaries
dc.subjectbeneficiary
dc.subjectbonded warehouse
dc.subjectbroad money
dc.subjectbrokerage
dc.subjectbrokerage house
dc.subjectbudget deficit
dc.subjectcapacity constraints
dc.subjectCapital accumulation
dc.subjectcapital flight
dc.subjectcapital market
dc.subjectcapital market activities
dc.subjectcapitalization
dc.subjectchild labor
dc.subjectcommercial banks
dc.subjectcommodity prices
dc.subjectcompetitive advantage
dc.subjectcompetitiveness
dc.subjectconflict of interest
dc.subjectconsumer demand
dc.subjectconsumer goods
dc.subjectconsumer price index
dc.subjectconsumers
dc.subjectconsumption growth
dc.subjectcontingent liabilities
dc.subjectcontract enforcement
dc.subjectcorporate governance
dc.subjectcorporate profit tax
dc.subjectcost functions
dc.subjectcredit growth
dc.subjectcurrency
dc.subjectcurrency depreciation
dc.subjectdeficit financing
dc.subjectdeficits
dc.subjectdeposits
dc.subjectdeveloping countries
dc.subjectdisbursement
dc.subjectDisbursements
dc.subjectdomestic credit
dc.subjectdownward pressures
dc.subjectdurable
dc.subjectEconomic Developments
dc.subjectEconomic performance
dc.subjectexcess supply
dc.subjectExchange Commission
dc.subjectexchange rate
dc.subjectexchange rates
dc.subjectexpenditure
dc.subjectexport growth
dc.subjectexporters
dc.subjectexports
dc.subjectExternal balances
dc.subjectexternal trade
dc.subjectexternal trade deficit
dc.subjectFederal Reserve
dc.subjectFederal Reserve Bank
dc.subjectfinancial institution
dc.subjectfinancial intermediation
dc.subjectfinancial reforms
dc.subjectfinancial sector
dc.subjectfinancial system
dc.subjectfiscal deficit
dc.subjectfiscal deficits
dc.subjectFiscal policy
dc.subjectfixed investment
dc.subjectfood price
dc.subjectfood prices
dc.subjectforeign direct investment
dc.subjectforeign exchange
dc.subjectforeign exchange markets
dc.subjectforeign exchange reserve
dc.subjectforeign exchange reserves
dc.subjectforeign financing
dc.subjectforeign investors
dc.subjectfraud
dc.subjectfrauds
dc.subjectGDP
dc.subjectGeneralized System of Preferences
dc.subjectglobal economy
dc.subjectglobal markets
dc.subjectgovernment accounts
dc.subjectGovernment expenditure
dc.subjectgovernment policy
dc.subjectgrowth rate
dc.subjectgrowth rates
dc.subjectholding
dc.subjectholdings
dc.subjectHousehold Income
dc.subjecthuman development
dc.subjectimport
dc.subjectimports
dc.subjectincome tax
dc.subjectincome tax exemption
dc.subjectindividual investors
dc.subjectInflation
dc.subjectinflation rate
dc.subjectinflation rates
dc.subjectinflation risk
dc.subjectinflationary pressure
dc.subjectinflationary pressures
dc.subjectinformation systems
dc.subjectinfrastructure investments
dc.subjectinstitutional investors
dc.subjectinsurance
dc.subjectinterest cost
dc.subjectinterest rate
dc.subjectinterest rates
dc.subjectinternational financial market
dc.subjectinternational market
dc.subjectinternational markets
dc.subjectinternational prices
dc.subjectinternational standards
dc.subjectinventory
dc.subjectinvesting
dc.subjectinvestment bank
dc.subjectinvestment climate
dc.subjectInvestment Corporation
dc.subjectinvestment rate
dc.subjectinvestor confidence
dc.subjectJoint Stock Companies
dc.subjectlabor standards
dc.subjectLetters of Credit
dc.subjectlevel of inflation
dc.subjectliquidity
dc.subjectloan
dc.subjectloan balances
dc.subjectloan classification
dc.subjectloan defaults
dc.subjectlong-term loans
dc.subjectM2
dc.subjectmacroeconomic conditions
dc.subjectMacroeconomic Policy
dc.subjectmacroeconomic stabilization
dc.subjectmarket capitalization
dc.subjectmarket diversification
dc.subjectmarket exchange rates
dc.subjectmarket index
dc.subjectmarket rate
dc.subjectmarket share
dc.subjectmarket shares
dc.subjectmaturity
dc.subjectmonetary discipline
dc.subjectmonetary policy
dc.subjectnational saving
dc.subjectnominal exchange rate
dc.subjectNPL
dc.subjectoil price
dc.subjectpledges
dc.subjectpolicy response
dc.subjectpolitical strife
dc.subjectpolitical turmoil
dc.subjectpolitical uncertainties
dc.subjectpolitical uncertainty
dc.subjectportfolio
dc.subjectpreferential market access
dc.subjectprice increases
dc.subjectprice movement
dc.subjectprice movements
dc.subjectprivate consumption
dc.subjectprivate investment
dc.subjectprivate sector credit
dc.subjectproduction costs
dc.subjectpublic debt
dc.subjectpublic investment
dc.subjectpublic investments
dc.subjectpurchase price
dc.subjectpush factors
dc.subjectreal exchange rate
dc.subjectReal GDP
dc.subjectrecession
dc.subjectrecurrent expenditures
dc.subjectregistration system
dc.subjectregulatory capacity
dc.subjectregulatory capture
dc.subjectregulatory oversight
dc.subjectremittance
dc.subjectremittances
dc.subjectreserve
dc.subjectreturn
dc.subjectreturns
dc.subjectSafety Net
dc.subjectsecurities
dc.subjectshort-term borrowing
dc.subjectslowdown
dc.subjectsmall investors
dc.subjectstock exchanges
dc.subjectstock market
dc.subjectstock market volatilities
dc.subjectstock prices
dc.subjectstocks
dc.subjectstructural reforms
dc.subjectsupply disruptions
dc.subjectsupply side
dc.subjectsupply-side
dc.subjectsurplus
dc.subjecttax
dc.subjectTax collections
dc.subjecttax rate
dc.subjecttechnical assistance
dc.subjecttotal exports
dc.subjecttotal investment
dc.subjecttrade deficit
dc.subjecttrade union
dc.subjecttrade unions
dc.subjecttrading
dc.subjecttransparency
dc.subjectTrust Funds
dc.subjectvalue added
dc.subjectwage rates
dc.subjectwages
dc.subjectwealth
dc.subjectworking capital
dc.titleBangladesh Development Update, October 2013en
dspace.entity.typePublication
okr.date.disclosure2013-10-22
okr.date.doiregistration2025-05-07T11:53:09.694440Z
okr.doctypeEconomic & Sector Work
okr.doctypeEconomic & Sector Work::Other Social Protection Study
okr.identifier.report81347
okr.language.supporteden
okr.region.administrativeSouth Asia
okr.region.countryBangladesh
okr.topicFinance and Financial Sector Development::Banks & Banking Reform
okr.topicFinance and Financial Sector Development::Currencies and Exchange Rates
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicMacroeconomics and Economic Growth::Economic Theory & Research
okr.topicPrivate Sector Development::Emerging Markets
okr.unitEcon. Policy & Poverty Sector (SASEP)
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