Nation needs the right economic policy and implementation

Bangladesh’s economy is currently under multi-dimensional pressure. Long-term structural weaknesses, financial sector instability, foreign exchange crisis, and a decline in investment are all putting the overall stability of the economy to a severe test.

This reality became even clearer in the speeches of economists at the launch of the ‘Bangladesh State of the Economy 2025’ and ‘SDG Progress Report 2025’ held at the NEC Conference Room in the city’s Sher-e-Bangla Nagar.

According to experts, the current situation is not a natural fluctuation; rather, it is the result of years of mismanagement, corruption, and double standards.

Economist Dr. Zahid Hossain has mentioned that Bangladesh is now under the double pressure of positive and negative indicators.

The increase in remittances, reduction in money laundering, some speed in revenue collection and improvement in power supply are certainly promising.

But high inflation, falling real wages, falling investment, and stagnant employment have made the macroeconomic environment vulnerable.

Other speakers have also made it clear that the root cause of this crisis is structural. CPD’s Dr. Mostafizur Rahman said the revenue-to-GDP ratio has declined significantly compared to ten years ago.

Neither sustainable development nor external debt repayment can be secured for a long time in a country with a weak fiscal base.

There is concern that Bangladesh is moving towards compulsory dependency, which raises serious questions about the future of the economy.

In a country where interest payments are the largest expenditure item in the revenue budget, where is the money for development spending or social security? The weakness of the banking sector has also deepened the crisis.

A large amount of non-performing loans, political influence, lax supervision, and a lack of transparency have long put the financial sector at risk.

Bangladesh Bank Governor Dr. Ahsan H. Mansur said reforms are underway to restore stability in the banking sector.

But whether this step is enough or not, the eyes of the country’s people and investors are on it.

According to Mahbubullah, a former professor at Dhaka University, the main reason for Bangladesh’s economic weakness is structural inequality.

Illegal influence in the economy, extortion, corruption and lack of transparency in commercial activities has blocked the path to development.

Acknowledging the reality, identifying the wrongs, and moving towards effective reforms are the only path to stability.

It is no lie that Bangladesh has overcome many setbacks in the past and has made progress.

It will continue to make progress this time too, if reform is truly prioritized and political will is coupled with responsibility.

There is only one way to overcome this economic crisis. That is to accept reality, adopt the right policies, and implement them properly.