Year In Economy

Bangladesh's proposed budget to spend for fiscal year 2013-14 has been estimated at 222,491 Crore Taka.

BETWEEN 2009 AND 2012: NPL=NON-PERFORMING LOANS; SMA=SPECIAL MENTION ACCOUNT. Taking out loans with forged documents have once again hit our economy after the unmasking of Sonali bank in 2012. For the year 2013 it is Basic Bank. The bank approved loans of Tk 4,500 crore, mostly without proper documents and scrutiny. The central bank found clear involvement of the board of directors in the loan scam of AB Trade Link.

Investment saw a sharp fall as political violence gripped the nation.

The rate of financial outflow from Bangladesh to

other countries has risen by no less than 28 per

cent by the end of

2013. According to GFI's recent findings

some Tk. 1 Lakh 28 thousand and Tk. 616

crore was whisked away between 2002

and 2011 from Bangladesh.

As a consequence, in the list of 150

developing nations Bangladesh

stands 47th in terms of flight of

capital including money laundering.

Moreover, the position is even

dreadful among the South

Asian countries -- Bangladesh stands second.

 

2013 saw Bangladesh hitting its foreign exchange

reserve to an all time high of US$ 18 billion mark.

Despite an ongoing political turmoil, the

country also saw a rise in the export

earnings for both traditional

and non-traditional export items.

According to a World Bank Report Bangladesh during the most part of 2013 has retained its seventh position among the top most 10 remittance-earning countries in the world. Though it listed Bangladesh among the four countries whose remittances are larger than the national foreign exchange. Bangladesh received its highest-ever annual remittance of about US$14.5 billion in the just out fiscal year as expatriate Bangladeshis sent home hard-earned money through formal channels. The remittance grew by 12% over the same period last fiscal year when it was $12.8 billion, registering 10% growth from $11.6 billion of fiscal year 2010-11.