Economy showing signs of gradual recovery: MCCI
The chamber also pointed out some regulatory issues, including the banking sector, which undermine the recovery
Bangladesh's economy is showing signs of a gradual recovery, though GDP growth remains under pressure, the Metropolitan Chamber of Commerce and Industry (MCCI) has said in its latest report.
"Export earnings and remittance inflows are helping to stabilise the foreign exchange reserves and revitalise the rural economy – factors which are contributing positively to macroeconomic stability," the MCCI said in its review for the third quarter of the current fiscal year 2024-25 on Tuesday (27 May).
The chamber, however, pointed out some regulatory issues, including the banking sector, which undermine the recovery of the economy, saying, "Severe regulatory lapses in the banking sector and massive loan scams have delayed the recovery of the macro economy."
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It also highlighted that recent efforts to reform the banking sector and restore public confidence in financial institutions will be vital to reviving GDP growth.
"The brunt of the conflicting situation in the world can affect the social, political, and economic aspects of the globe, including Bangladesh. The economy of Bangladesh continues to face multiple challenges amid elevated global uncertainty," the report reads.
