Economy to avoid further decline in next six months

Business Report :
Around 80 percent of businesses in Bangladesh opined that the country’s economy would avoid further decline in the next six months, according to the LightCastle Business Confidence Index (BCI) 2022-23.

They believe this will be made possible by the implementation of reforms outlined by the International Monetary Fund (IMF) to address economic instability.

Other factors that may blunt the economic decline include the gradual stabilisation of the effects of the Russia-Ukraine war on local and global markets, and the adoption of a cautious approach by all parties to ensure stability, they said.

However, businesses expressed concern about potential political instability arising from the impending national elections, lower levels of investor confidence and economic volatility during the initial months of implementing the IMF-recommended reforms.

LightCastle, in partnership with The Daily Star, launched the report recently after conducting a survey during the March-June period of this year.

It evaluated the perspectives of 167 industry leaders representing more than 25 sectors, including multinational corporations, local conglomerates, start-ups and SMEs, providing a comprehensive snapshot of Bangladesh’s dynamic business landscape.