Asked by
Birds of the sky (2 Golds)
Saturday, 17 Oct 2020, 08:32 PM
at (Consultancy
Business)
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______________________________ How has Bangladesh managed the pandemic-affected economy so far? =========================== Bangladesh is set to post the highest per capita GDP growth rate in South Asia and the fourth-highest in the whole of Asia in 2020 compared to that of last year, comfortably ahead of India and China. ____________________ ~ According to the International Monetary Fund's latest World Economic Outlook report ~ _________________________________ It is a mysterious truth that, our unblemished and progressive economy had to float in the shoreless sea of danger owing to sudden appearance of horrendous global pandemic and it’s punitive outcome. Numerous innocuous people embraced premature death feeling the iciness of death's frightening hands and experienced vehemently as well as deeply the untimely gathering of clouds which have devastated the perceivable happiness of the people. Yet we haven’t submerged in the boundless ocean of insecurity because our dauntless premier has unhesitatingly adopted some courageous steps with a view to adding vivacity in our lifeless economy. In this connection, Some indicators of the Bangladesh economy have started to show positive signs in the recent period.Remittances and exports of readymade garments (RMG), indubitably, are the significant sources of incalculable employment and foreign exchange income for our evolving economy. Surprisingly, remittance inflow has escalated mentionably in recent months and it has jumped to 40 billion this October. The hellacious pandemic has intensely crucified the global demand for clothing. For this reason,global apparel buyers suspended or cancelled orders from Bangladesh during April - May 2020. This was tantamount to USD 3.18 billion. The growth came on the back of an impressive 7.04% rise in knitwear garment exports in the July-September of the fiscal 2020-21, offsetting a 5.78% decline in the woven segment. However, the overall export strength continues as global demand rebounds for jute goods, agricultural products, frozen fish, home textile and non-leather footwear. Among other manufacturing goods, pharmaceuticals showed about 21% growth, though the amount was small – $42 million. °°°°°°°°°°°°°°°°°°°°°°°°°°°°° "The overall growth in export earnings in the first quarter of the current fiscal year indicates that our exports have been going in the right direction, but it is still in the recovery stage," °°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°°° ~ The Policy Research Institute ~ __________________ The gradual comeback of the Bangladesh economy is reassuring and chimerical. If this trend continues and sustains, Bangladesh will probably stand out as one of the most resilient countries to bounce back early from the negative and hazardous consequences of the coronavirus crisis. Despite the pandemic, we have come back on the right track ; it happened due to two major reasons – our brave workers joined at work to produce apparels as per buyers' requirement and the government financial aid acted as a lifeline, otherwise we could not able to survive. We, therfore, cherish that our economy will shine luminously in the coming days as our judicious govt. has undertaken a raft of crucial and timely measures to tackle the negative impacts of the Covid - 19 outbreak. ============★★★========== Answered by Birds of the sky (2 Golds) Saturday, 17 Oct 2020, 08:33 PM |
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