Publication: Bangladesh Development Update, April 2014
Date
2014-04-01
ISSN
Published
2014-04-01
Author(s)
World Bank
Abstract
Bangladesh moved closer to achieving the
sixth five year plan target of reducing extreme poverty to
22.5 percent by 2015 as it sustained healthy gross domestic
product (GDP) growth and moderate single digit inflation in
FY2014. However, growth this year slowed relative to last
year with declining remittances and losses due to political
turmoil. Sound macroeconomic management kept inflation in
check, although it increased somewhat due to the one-off
effects of supply disruptions and wage increases. Official
foreign exchange reserves increased to an adequate level as
Bangladesh Bank intervened to keep the exchange rate stable.
Weak demand for credit reduced interest rates. Monetary
policy remained prudent while fiscal management challenged
by shortfall in tax revenue, demand for support from sectors
adversely affected by the political turmoil, and
under-utilization of development budget. The fund's
extended credit facility (ECF) is on track. Immediate
challenges are to boost investments in power and roads;
manage the transition in readymade garments; and stem the
decline in remittances.
Link to Data Set
Citation
“World Bank. 2014. Bangladesh Development Update, April 2014. © Washington, DC. http://hdl.handle.net/10986/17787 License: CC BY 3.0 IGO.”