Rocky road ahead for economy

Bangladesh’s economy is in a concerning state, with GDP growth slowing to 3.78% in the second quarter of FY2023-24, the slowest pace in three quarters. Inflation has edged close to double digits at 9.81%, eroding consumer buying power and decreasing domestic demand. Factors such as macroeconomic mismanagement, import restrictions, and a distressed financial sector have contributed to the overall decline. Economists emphasize the urgent need for financial sector reforms and addressing endemic corruption, warning that without immediate action, the economy is heading towards darker clouds. (photo/collected)