Submitted by Abul Basher on Mon, 04/26/2010 - 09:58
The current budget (FY10) expects a significant increase in revenue collection, a perennial problem in the country. The target revenue was set at 610.00 billion taka ($8.8 billion) with 261.10 billion collected in the first half and the remaining 348.90 billion in the second. The realization of this target requires a year on-y growth of 16.15%, which, being a notable departure from the trend growth rates was received with sheer skepticism from the economic observers of the country. However, about 33.67% more revenue has to be collected in the second half of the fiscal year as compared to the first half which seems realistic in the light of the fiscal performances of the last 5 fiscal years.
Submitted by Abul Basher on Fri, 06/26/2009 - 15:21
Bangladesh’s export earnings are mostly determined by the export of readymade garments (RMG) to North American and European countries with 75% of total export earning coming from this sector. Quite understandably, the economic crisis in those countries unnerves us.
Fortunately, the clothing sector has remained more or less unscathed by the global crisis even as the trepidation among the entrepreneurs, policy makers and economists is still very high. During the last fiscal year (2007-08), the overall growth of the export of RMG was 16.16% which increased to 23.48% between July 08 and January 09 of the current fiscal year.
Readymade garments are the largest export industry and determine the dynamics of total export earnings for Bangladesh RMG is still growing at a satisfactory rate. There is no strong indication of any negative impacts of the global economic crisis on RMG as of today, but the future continues to be unpredictable.
Submitted by Abul Basher on Wed, 06/24/2009 - 11:03
The global economic downturn and the consequent pessimistic outlook for exports in developing countries like Bangladesh have reinvigorated voices for protectionism. Even pro-trade minds have vented their skepticism about trade liberalization, as if the punch of the ongoing crisis could be shielded with the help of an embargo on trade with the rest of the world!
Such thoughts, derived from the gloomy prospects of exports, ignore the potential benefits drawn through the imports and disregard the lessons learned from history- that economic isolation leads to further impoverishment.
The current budget (FY10) expects a significant increase in revenue collection, a perennial problem in the country. The target revenue was set at 610.00 billion taka ($8.8 billion) with 261.10 billion collected in the first half and the remaining 348.90 billion in the second. The realization of this target requires a year on-y growth of 16.15%, which, being a notable departure from the trend growth rates was received with sheer skepticism from the economic observers of the country. However, about 33.67% more revenue has to be collected in the second half of the fiscal year as compared to the first half which seems realistic in the light of the fiscal performances of the last 5 fiscal years.
The global economic downturn and the consequent pessimistic outlook for exports in developing countries like Bangladesh have reinvigorated voices for protectionism. Even pro-trade minds have vented their skepticism about trade liberalization, as if the punch of the ongoing crisis could be shielded with the help of an embargo on trade with the rest of the world!