[🇧🇩] Monitoring Bangladesh's Economy

[Saif]

Exports hit record high, surpass previous fiscal year in just 11 months

This figure already surpassed the total export earnings of $44.46 billion for the entire 2023-24 fiscal year.

en.prothomalo.com

Exports hit record high, surpass previous fiscal year in just 11 months
UNB
Published: 03 Jun 2025, 22: 30

Chattogram port Prothom Alo file photo

Bangladesh has achieved a remarkable milestone in its exporting goods, recording US$44.94 billion during the first 11 months (July-May) of the current fiscal year.

This figure already surpassed the total export earnings of $44.46 billion for the entire 2023-24 fiscal year, signalling the impressive performance of industries.

Overall, export income has seen a significant 10 per cent growth compared to the same period last year, when earnings stood at $40.85 billion, according to export data released by the Export Promotion Bureau (EPB) on Tuesday.

As per the EPB data, export earnings in May alone reached $4.73 billion, an increase of 11.45 per cent compared to $4.25 billion in May of the previous year.

The ready-made garment (RMG) sector, which is the largest contributor to Bangladesh's exports, demonstrated a strong growth of 10.25 per cent. Earnings from this sector amounted to $36.55 billion, up from $33.17 billion in the preceding year.

Within RMG, woven garment exports increased by 9.30 per cent to $16.94 billion, while knitwear exports surged by 10.98 per cent to $19.62 billion.

Several other sectors also contributed significantly to the record export figures.

Agricultural products: Earnings grew by 3.17 per cent to $928 million.

Frozen and live fish: Saw a substantial increase of 17.53 per cent, reaching $410 million.

Leather and leather products: Registered a 12.55 per cent growth, generating $1 billion in income.

Leather footwear: Experienced a remarkable 28.96 per cent rise, with earnings of $620 million.

Non-leather footwear: Grew by 30.25 per cent to $494 million.

Plastic products: Increased by 18.62 per cent to $270 million.

Pharmaceuticals: Saw a 5.25 per cent growth, with earnings of $197 million.

Home textiles: Increased by 4.78 per cent to $825 million.

Areas of decline

Despite the overall positive trend, some sectors experienced a decline:

Jute and jute products: Saw a 4.77 per cent decrease in income, falling to $769 million.

Other leather products: Declined by 3.39 per cent, with earnings of $317 million.

The record export performance in the first 11 months positions Bangladesh strongly to exceed its export targets for the current fiscal year, reinforcing its position in the global trade arena.​

 

[Saif]

Trade deficit narrows 2.6% in July-April

The country’s trade deficit narrowed by 2.60 percent in the first ten months of the current fiscal year compared to the same period a year ago, thanks to a rise in export earnings coupled with subdued imports..During the July-April period of fiscal year (FY) 2024-25, the trade gap was $18.

www.thedailystar.net

Trade deficit narrows 2.6% in July-April
Bangladesh trade deficit July-August FY25

While the substantial downward revision in the export figures is disappointing, it paints a much more realistic picture about the challenging global environment for exports faced by Bangladesh. PHOTO: RAJIB RAIHAN/FILE

The country's trade deficit narrowed by 2.60 percent in the first ten months of the current fiscal year compared to the same period a year ago, thanks to a rise in export earnings coupled with subdued imports.

During the July-April period of fiscal year (FY) 2024-25, the trade gap was $18.22 billion, down from $18.70 billion in the corresponding period of FY24, according to the latest data from the central bank.

Export earnings increased by 8.6 percent year-on-year to $36.56 billion in the first ten months of this fiscal year.

On the other hand, import costs rose only 4.6 percent year-on-year to $54.79 billion from the same period a year ago, central bank data showed.

Industry insiders said that slower import growth compared to export growth helped narrow the trade gap slightly.

They said that slow import growth is not a positive sign for the economy in the long run, as it indicates a sluggish business environment, a slowing economy, and lacklustre investments.

During July to April of the current fiscal year, the settlement of letters of credit (LCs) for capital machinery fell by 25.56 percent to $1.70 billion, indicating a dull business environment.

Another major development in the balance of payments is the country's current account balance. The deficit in the current account balance narrowed in the first ten months of this fiscal year.

From July to April of FY25, the current account balance deficit stood at $1.39 billion, down from $6.02 billion in the same period of the last fiscal year, BB data showed.

Bankers credited the growing remittance trend for reducing the current account balance deficit.

A significant development is that the financial account is in positive territory.

The financial account, a component of the balance of payments, records claims on or liabilities to non-residents concerning financial assets. It includes components such as direct investment, portfolio investment, and reserve assets, broken down by sector.

The financial account in the first ten months of FY25 stood at $1.96 billion, down from $2.25 billion in the same period of the last fiscal year, data showed.

The balance of payments (BoP) data show that foreign direct investment (FDI) dropped by 29 percent year-on-year.

The country received $910 million in the first ten months of FY25, down from $1.27 billion in the same period last year.​

 

[Saif]

Unblocking payments, shareholder dividends ignites investment zeal

A faster coordinated action by the interim government resolving several longstanding issues of payment obligations and shareholder dividends with three prominent multinational corporations in order to ease foreign-investment facilities in Bangladesh regenerates investment vibes. Industry s

thefinancialexpress.com.bd

Unblocking payments, shareholder dividends ignites investment zeal
Longstanding problems of three multinational kingpins resolved with rapid coordinated actions, Chevron, MetLife, Youngone happy with hurdles removed
Ismail Hossain
Published :
Jun 05, 2025 01:51
Updated :
Jun 05, 2025 01:51

A faster coordinated action by the interim government resolving several longstanding issues of payment obligations and shareholder dividends with three prominent multinational corporations in order to ease foreign-investment facilities in Bangladesh regenerates investment vibes.

Industry stakeholders assert that such decisive actions will help eliminate uncertainties, enhance investor confidence, and reinforce Bangladesh's credibility as a competitive investment destination.

With support from the Bangladesh Investment Development Authority (BIDA), the Ministry of Finance and the Insurance Development and Regulatory Authority (IDRA), the government addressed long-pending concerns involving Youngone Corporation, Chevron Bangladesh, and MetLife.

These issues, exacerbated by previous foreign-exchange constraints, had remained unresolved for several years like a bone stuck in one's throat.

The Chief Adviser's Office played a direct role in facilitating these resolutions. Special Envoy Lutfey Siddiqi was instrumental in engaging with stakeholders, coordinating across ministries, and ensuring that the necessary policy and regulatory approvals were secured.

In one major development, the state-owned Petrobangla has settled outstanding dues to Chevron Bangladesh totalling over US$190 million. The US energy major confirmed that payment was settled last April.

Meanwhile, South Korea's Youngone Corporation executed a long-awaited deed of land transfer within the Korean Export Processing Zone (KEPZ) in Chattogram.

This milestone, which overcomes significant administrative delays, is expected to unlock up to US$500 million in potential investment in textiles, logistics, and technology infrastructures.

In another breakthrough, MetLife-the oldest foreign investor in Bangladesh-has secured regulatory approval for repatriating long-overdue shareholder dividends.

Having operated in Bangladesh since 1952, MetLife, renamed from American Life Insurance Company (ALICO), is the largest investor in government bonds, the top taxpayer in the life-insurance sector, and consistently the leading life insurer in terms of claims settlement.

Despite this stature in the corporate world, the stakeholders say, "prolonged bureaucratic hurdles around dividend repatriation had adversely impacted Bangladesh's reputation as a business-friendly environment".

These recent actions by the government align with the Foreign Private Investment (Promotion and Protection) Act 1980, which guarantees protection against expropriation and ensures the repatriation of capital and profits.

Officials emphasise that the Act remains a vital assurance mechanism for foreign investors.

According to stakeholders familiar with the developments, the resolution of legacy disputes and improvements in administrative efficiency signal a renewed policy focus on fostering an environment conducive to investment.

The business community-both current multinationals and prospective investors-are observing these changes with keen interest.

Ala Ahmad, Chief Executive Officer of MetLife Bangladesh, says, "We welcome the government's proactive efforts to streamline key processes for the investors. As a long-term partner to Bangladesh, MetLife sees this as a strong signal of the country's commitment to an investor-friendly environment."

The Bangladesh Investment Development Authority, the national investment-promotion agency, reported receiving investment proposals amounting to Tk 338.06 billion in the first quarter of 2025, including Tk 161.69 billion from foreign and joint-venture investors, according to official figures.

Ashik Chowdhury, Executive Chairman of BIDA and BEZA both, has said Bangladesh's ambition is clear regarding obtaining foreign investment. "We want to become a globally competitive investment destination and the only way we can achieve our ambition is by converting our existing investors into ambassadors."

He said the government was laying the groundwork for a future where international investors see not just potential, but performance.

Lutfey Siddiqi, Special Envoy on International Affairs to the Chief Adviser, has said attracting foreign investment is essential not just for growth but also for building the fiscal and productive backbone of the economy.

"This requires a consistent approach across departmental silos, in both our policies and actions, and nurturing an environment that facilitates high-quality investments," he added.​

 

[Saif]

Counting the invisible: Why recognising women’s unpaid work is a game-changer for Bangladesh

In a historic policy shift, Bangladesh’s interim government has announced that from the 2025–26 fiscal year onward, women's unpaid care and domestic work will be officially counted in the country’s Gross Domestic Product (GDP). This long-overdue decision marks a watershed moment&m

thefinancialexpress.com.bd

Counting the invisible: Why recognising women’s unpaid work is a game-changer for Bangladesh

Farah Kabir
Published :
Jun 05, 2025 16:18
Updated :
Jun 05, 2025 16:19

In a historic policy shift, Bangladesh’s interim government has announced that from the 2025–26 fiscal year onward, women's unpaid care and domestic work will be officially counted in the country’s Gross Domestic Product (GDP). This long-overdue decision marks a watershed moment—not just in economic accounting, but in the nation’s recognition of gender justice. It is also a landmark victory for ActionAid Bangladesh (AAB), which has spent over a decade advocating for the acknowledgment of this invisible labour.

Across Bangladesh, millions of women rise each day to shoulder the immense burden of household and caregiving work—cooking, cleaning, caring for children and the elderly—all without pay, recognition, or relief. According to the 2021 Time Use Survey by the Bangladesh Bureau of Statistics, women perform nearly 6.8 hours of unpaid care work daily, compared to just 1.2 hours by men. This glaring disparity translates into 5.6 additional hours of unrecognised labour for women every single day.

What if this labour had a price tag?

A 2014 study by the Centre for Policy Dialogue (CPD) estimated that if women’s unpaid domestic and care work were monetised, it would account for a staggering 76.8% of Bangladesh’s GDP. Yet, until now, this critical contribution went unrecorded in economic planning and public policy—rendering women’s labour effectively invisible.

Since 2013, ActionAid Bangladesh has been working to change that. With a mission to recognise, reduce, and redistribute unpaid care work, AAB has combined grassroots mobilisation, research, and high-level advocacy to shift public narratives and policy. This movement has never been just about numbers—it’s about dignity, justice, and rewriting the rules of who counts and what counts in the economy.

At the heart of this movement lies a simple but powerful tool: the Time Diary. Women across Bangladesh were encouraged to log their daily activities over 24 hours. What emerged was a clear, evidence-based picture of their daily workload—and how it constrained their ability to earn, learn, or simply rest. For many women, the Time Diary provided a language to explain why they felt exhausted, undervalued, or stuck. It became both a personal empowerment tool and a political instrument.

ActionAid used this data to spark difficult conversations within households, especially through “spouse forums.” When men were confronted with the real weight of their partners’ daily labour, many began to reflect, and in some cases, adjust their roles. These were small but meaningful steps toward breaking deeply embedded patriarchal norms.

Community engagement was key. From rural villages to urban neighbourhoods, ActionAid Bangladesh mobilised women’s groups, organised awareness campaigns, and even launched public events like the “Men’s Cooking Festival,” where men were invited to take on household chores in front of their communities. It wasn’t just symbolic; it was revolutionary. Films, radio programmes, and local storytelling brought these efforts to life, making unpaid care work visible—and shared.

The COVID-19 pandemic magnified this crisis. With schools, offices, and support systems shut down, homes became the centre of all activity. Women juggled work, childcare, and household tasks, often without help or recognition. AAB’s rapid study showed that unpaid domestic work increased by 128%, even among employed women. Yet care work remained largely absent from pandemic response strategies and public budgets.

But ActionAid didn’t stop at the community level. Women’s voices were elevated to the national stage—presented directly to policymakers, parliamentarians, and media leaders. Armed with personal stories and hard data, women articulated the cost of care, not just in hours or energy, but in lost opportunities and systemic inequality. These stories resonated. Slowly but surely, the issue of unpaid care work began shifting from a “private” concern to a public policy priority.

The media became a powerful ally. Through journalist training programmes, photo exhibitions, and storytelling competitions, AAB ensured that unpaid care work entered the national narrative. Youth debates, film screenings, and powerful imagery—such as the “Different Images of Men” campaign—challenged stereotypes and inspired cultural change.

This multi-pronged advocacy led to a crucial breakthrough: the formation of a multi-stakeholder Steering Committee and growing alignment with networks like the Gender Working Group (GWG), One Billion Rising (OBR), and the Asian Farmers’ Association (AFA). A collective voice was formed, amplifying demands for care-sensitive policies, services, and budgets.

Now, with the government’s announcement to include unpaid care work in GDP, a long-held dream has been realised. It’s a validation of years of activism and a signal that Bangladesh is ready to rewrite its economic story.

But this is just the beginning. Recognition in GDP is an important milestone, but not the final goal. Real transformation will require integrated action: gender-responsive budgeting, investment in care infrastructure like childcare and eldercare centres, expanded healthcare access, and public campaigns to shift cultural norms. Men must be engaged as allies, and women must be at the centre of designing policies that affect their lives.

ActionAid Bangladesh remains committed to this journey—not just to reduce the hours women spend on care work, but to restore value and dignity to their contributions. By counting care, we challenge what we value. And when we value care, we open the door to a more inclusive, equitable, and humane society.

In recognising unpaid care work, Bangladesh has taken a bold, progressive step forward. The future, now, must be built on that foundation—with policies, partnerships, and public will that ensure no woman’s labour goes unseen, and no woman is left behind.

- Farah Kabir is the Country Director of ActionAid Bangladesh​

 

[Saif]

Exports and remittance drive improvement in foreign transaction balance

Strong growth in exports and remittances has led to an improvement in balance of payments (BoP), a key indicator of the country’s economy. According to the latest report from Bangladesh Bank, the BoP deficit for the first 10 months of the 2024-25 fiscal, that is, July through April, has...

en.prothomalo.com

Exports and remittance drive improvement in foreign transaction balance
Staff Correspondent Dhaka
Published: 08 Jun 2025, 18: 32

Bangladesh Bank Prothom Alo

Strong growth in exports and remittances has led to an improvement in balance of payments (BoP), a key indicator of the country’s economy.

According to the latest report from Bangladesh Bank, the BoP deficit for the first 10 months of the 2024-25 fiscal, that is, July through April, has decreased to USD 660 million.

Just a month earlier, the deficit stood at USD 1.07 billion, while at the end of April in the previous fiscal year, the deficit was USD 5.57 billion. In fact, the deficit was USD 8.22 billion in the 2022-23 fiscal year.

Exports have been showing positive growth, and remittances hit record levels in May as well, following April. Additionally, last month the exchange rate of the dollar was allowed to float, and due to healthy supply, it has remained stable

In the final two years of the ousted Awami League government, the BoP deficit had reached a critical level, putting significant pressure on the country’s foreign exchange reserves. Following the political transition, the interim government undertook several initiatives which gradually brought down the BoP deficit. As a result, the decline in reserves came to a halt.

According to the central bank's records, as of 29 May, the country’s foreign exchange reserves were at USD 25.80 billion. At the same time last year, the reserves stood at USD 24.22 billion.

On the other hand, under IMF’s BPM6 (Balance of Payments Manual, 6th edition) methodology, foreign exchange reserves on 29 May were USD 20.57 billion. A year earlier, under the same BPM6 method, reserves were USD 18.72 billion. This means that usable reserves have increased by USD1.85 billion over the past year.

According to Bangladesh Bank’s report, goods worth USD 36.57 billion were exported in the first 10 months of the current fiscal year. This is an 8.61 per cent increase compared to the corresponding period in the previous fiscal year.

Over 90 per cent of the exports and imports take place though Chittagong Port Prothom Alo

Meanwhile, remittance inflows between July and April of the current fiscal year amounted to USD 24.54 billion, which is 28 per cent higher than the same period last year.

According to the central bank records, the 2023–24 fiscal ended with a significant current account deficit of USD 6.61 billion. In the previous fiscal year (2022-23), the deficit was even larger, USD 11.63 billion. However, in the first 10 months (July-April) of the 2024-25 fiscal, the current account deficit has narrowed to USD 1.39 billion.

The current account typically reflects the country’s regular foreign transactions. It includes imports, exports, and other recurring income and expenditures. A surplus here indicates that the country does not need to borrow to finance its day-to-day external transactions. Conversely, a deficit requires borrowing to cover the gap. Despite a slight increase in imports during the first 10 months of the current fiscal year, robust growth in exports and remittance inflows has helped reduce the current account deficit.

Migrants workers remitted USD 54 billion on the first 10 months of the current fiscal Collected

Meanwhile, at the end of the 2023-24 fiscal, the financial account posted a surplus of USD 4.54 billion, down from USD 6.89 billion in the previous year. However, the 2024-25 fiscal began with a financial account deficit, though by the end of the first 10 months, it had returned to a surplus of USD 1.96 billion.

The financial account measures changes in the ownership of the country's international assets. Typically, a deficit in this account puts pressure on foreign exchange reserves and the exchange rate. Due to a severe dollar shortage, a financial account deficit emerged for the first time in a decade and a half at the beginning of the 2022-23 fiscal.

Economists and officials at Bangladesh Bank note that exports have been showing positive growth, and remittances hit record levels in May as well, following April. Additionally, last month the exchange rate of the dollar was allowed to float, and due to healthy supply, it has remained stable.​

 

[Saif]

Simplifying NBR service delivery

The provision of submitting Proof of Submission of (Tax) Return (PSR) as a prerequisite for accessing various services from the government departments and financial institutions incorporated by the National Board of Revenue (NBR) during the pre-interim government period still remains intact. Eviden

thefinancialexpress.com.bd

Simplifying NBR service delivery

Published :
Jun 11, 2025 00:53
Updated :
Jun 11, 2025 00:53

The provision of submitting Proof of Submission of (Tax) Return (PSR) as a prerequisite for accessing various services from the government departments and financial institutions incorporated by the National Board of Revenue (NBR) during the pre-interim government period still remains intact. Evidently, the idea behind this arrangement was to broaden tax coverage and ensure compliance from eligible taxpayers. In November last, the NBR made submission of PSR mandatory for accessing 43 services so that, as the head of the tax authority then told reporters at a briefing, the move would help increase the number of Taxpayer Identification Number (TIN) holders as well as income tax return submissions. So far 45 services have been brought under the mandatory PSR rule.

However, in the proposed budget for the next fiscal year (FY 2025-26), the government has made some relaxations. At least 12 services would hence be exempted from the mandatory PSR-related formalities. Accordingly, submission of TIN certificate, not the entire tax return documentation, will be enough for anyone to avail of 12 services. The reason given for this change in the existing requirements for the said services is that the provision of submitting PSR proved to be unnecessary hurdles to delivering certain services. So, the 'illogical' requirements have been removed from delivery of those services. Notably, the services under consideration include, among others, renewal or issuance of a credit card, obtaining a trade licence under the city corporations and municipalities, getting an e-commerce business licence, gaining membership of various professional bodies, opening a post office savings account exceeding Tk500,000 and so on.

Clearly, the specific services exempted from mandatory PSR submission points to the fact that the argument of PSR-compliance to widen tax net and hence revenue collection was not essentially factual. In fact, compulsion in an overwhelming number of cases has proved ineffective simply because the NBR machinery is not up to the task. Evasion of tax by wealthy taxpayers is mostly facilitated by corrupt elements in the tax administration. Also, tougher rules and the attendant hassles and harassments have discouraged many potential taxpayers to obtain a TIN certificate in the first place. Unsurprisingly, Bangladesh's current tax-to-GDP ratio is 7.4 per cent---the lowest in South Asia with 12.5 per cent in India, 17.5 per cent in Nepal and 12.3 per cent in Bhutan.

However, a 9.0 per cent (total projected revenue collection at Tk 4.99 trillion) rise in revenue collection has been projected in the FY26 budget, marking a 7.6 per cent increase over the revised target of the current fiscal year. Arguably, the NBR's departure from the PSR requirement for listed services implies that the philosophy of compliance to ensure better tax collection has undergone a qualitative shift. This is undoubtedly a move in the right direction. More than relieving the burden of supplying a pile of documents for securing a government service, the easing of PSR-related preconditions would go a long way in simplifying the revenue collection procedure. In that case, such streamlining of service delivery will not only be of help to recipients of services, but will also make the tax collection procedure more efficient and taxpayer-friendly. Hopefully, the government or for that matter the tax authority would rethink the entire strategy of service delivery in favour of a simpler and hassle-free procedure in the interest of taxpayers.​

 

[Saif]

Govt gearing up to tackle 3 fiscal risks

A model study forearms the government to face three major risks to Bangladesh's fiscal outlook from macroeconomic volatility, sovereign guarantees extended to state-owned enterprises (SOEs) and disaster-related shocks. According to risk analytics laid down in the latest budget document, unde

thefinancialexpress.com.bd

UNFORESEEN MACROECONOMIC, SOE, CLIMATIC UPSETS
Govt gearing up to tackle 3 fiscal risks

Jasim Uddin Haroon
Published :
Jun 13, 2025 00:48
Updated :
Jun 13, 2025 00:48

A model study forearms the government to face three major risks to Bangladesh's fiscal outlook from macroeconomic volatility, sovereign guarantees extended to state-owned enterprises (SOEs) and disaster-related shocks.

According to risk analytics laid down in the latest budget document, under the macroeconomic category, the main concerns are inflation, exchange rate volatility, and export performance.

The Finance Division analysed these risks using a customised tool called Financial Programming and Policy Model, developed by the International Monetary Fund (IMF).

The model suggests a spike in inflation would lead to reduced government spending capability.

With lower expenditure, the fiscal deficit narrows, improving the overall budget balance and helping reduce public debts, according to the analysis.

However, in the case of a policy-rate shock, that is, an increase in interest rates, the model forebodes significant spikes in interest payments with a resultant worsening of the fiscal balance.

Government expenditure is projected to increase rapidly in this scenario on the financial front of the economy.

Regarding exchange-rate shocks, the model indicates that depreciation of the local currency could improve government's fiscal position as a percentage of nominal GDP.

However, it would also increase foreign interest payments and create inflationary pressures on the economy.

"A close relationship was observed between exchange-rate depreciation and annual average point-to-point inflation in the country," it is stated in the analysis.

Potential risks concomitant with the recently adopted floating exchange-rate regime are also taken into account in doing the risk arithmetic.

And a predicted end-result is that the overall impact on public debt and government expenditure would remain moderate.

"Given the steady inflow of remittances, along with moderate export growth and controlled import expansion, the shift to a market-based exchange system is not expected to significantly affect government's fiscal position in the medium term," the risk analytics notes.

Taking into account the recent tariff hikes imposed by the U.S. administration, the official analysts also examined how export shocks affect public finance and the real economy.

They observe that public expenditure tends to rise being fed by export shocks.

The analysis further highlights fiscal risks stemming from sovereign guarantees provided to SOEs.

The government issues sovereign guarantees for loans negotiated by various state-owned enterprises. As of the end of FY2024-25, the total outstanding sovereign guarantees accounted for Tk 1,190.82 billion or over Tk 1.19 trillion.

Natural disasters, particularly floods, were also flagged as a key Achilles' heel in the fiscal ecosystem drawn up by the post-uprising government in the process of economic rebound.

The analysis forecasts disasters could damage infrastructure, reduce agricultural output, and lower private consumption, all of which contribute to a wider fiscal deficit.

However, the impact on the ready-made garment (RMG) sector -- Bangladesh's prime export earner -- is expected to be minimal.​

 

[Saif]

Govt scraps dozen misdirected income tax write-off SROs

A dozen income-tax write-off SROs have been scrapped by the interim government in a fiscal measure meant for enhancing state revenues and enforcing tax transparency, as the generosity was allegedly misdirected. A major perverse use of the benefits was found to be legalizing 'black money' t

thefinancialexpress.com.bd

BOOSTING REVENUE, TAX TRANSPARENCY
Govt scraps dozen misdirected income tax write-off SROs

Jasim Uddin
Published :
Jun 13, 2025 00:54
Updated :
Jun 13, 2025 00:54

A dozen income-tax write-off SROs have been scrapped by the interim government in a fiscal measure meant for enhancing state revenues and enforcing tax transparency, as the generosity was allegedly misdirected.

A major perverse use of the benefits was found to be legalizing 'black money' through investing in tax-exempt or low-tax ventures like fisheries and agriculture by those who have no relation with such sectors.

The cancellation of the 12 Statutory Regulatory Orders (SROs) on the direct taxation has been incorporated into the new budget for financial year 2025-26 to bring transparency in the tax system and prevent the "misuse of fiscal facilities".

This move, unveiled by Finance Adviser Dr Salehuddin Ahmed, signals a clear intent to broaden the tax base, reduce discretionary exemptions, and improve the overall efficiency in revenue collection.

According to National Board of Revenue (NBR) sources, among these regulatory orders, destined for clear-out from 1 July 2025, are those on tax exemptions for donations to several institutions, including the Bangabandhu Memorial Trust.

Additionally, various SROs offering tax largesse for agriculture and livestock have been revoked in recent years following allegations of benefit misuse and resultant revenue losses.

Experts believe the rollback of these income- tax SROs is a bold statement from the government, "prioritising robust revenue generation and a more transparent tax landscape for the benefit of the national economy".

These SROs were reportedly issued or extended due to negotiations by politicians during the previous regime.

It is a key component of the post-uprising government's broader tax-reform agenda, aimed at creating a more predictable and equitable taxation environment.

For years, numerous SROs have allowed for a multitude of exemptions and pared-down tax rates, often criticised for creating loopholes and hindering revenue generation. By streamlining these provisions, the government expects to unlock significant revenue potential and curb tax evasion.

Finance Adviser Dr Ahmed, in his budget speech, underscored the importance of this measure in achieving government's revenue targets and enhancing the nation's economic stability. While the budget also includes adjustments to tax-free income ceiling and new tax slabs, the cancellation of SROs is particularly noteworthy for its direct impact on transparency.

Below is a brief overview of some of the cancelled SROs and their primary benefits.

Under an SRO issued on March 9, 2009, the government offered tax exemption on donations to three specific institutions: Bangabandhu Sheikh Mujibur Rahman Memorial Trust, Rafatullah Community Hospital (RCH) Bogura, and Salvation For Discovery Hospital, Manikganj. NBR officials cited controversial and political affiliations as the reason for the cancellation of this facility.

Another SRO, dated January 2, 2013, offered tax waiver on donations to the 'Dhaka School of Economics Foundation'. However, there have been allegations of misuse of charitable donations and tax evasion associated with this SRO.

Similarly, an SRO, dated July 1, 2015, offered reduced tax on income from over 12 sectors, including agriculture, poultry, fish, flowers, silk, and mushrooms, ranging from 3-15 per cent. Another SRO, dated August 18, 2015, offered tax exemption on income from fisheries, poultry, and hatcheries, with zero-rated tax on the first quantum of Tk 1.0 million. There have been longstanding allegations of misuse of these benefits by high-income groups, primarily politicians, for 'whitening' undeclared income -- commonly known as black money.

In the new budget, the government, on the other hand, has increased the tax exemptions for marginal farmers, raising the income-tax threshold from Tk 200,000 to Tk 500,000.

The rest of SROs offer tax exemption on natural gas, on donations to 'Gafur Mariam Sattar Saqera Foundation', phased tax exemption on income from poultry and fish farming (zero to 15 per cent), Withholding tax on savings certificates, savings deposits, and export-based cash assistance is considered final and exempted from additional tax liability.

The SRO-borne facility for withholding tax on property transfers is considered final, having no additional tax liability, and so is tax exemption on imported parboiled and non-parboiled rice.

And an amendment to the Seventh Schedule of the Income Tax Act 2022 establishes special tax rates which often provided tax benefits for investing undisclosed funds.​

 

[Saif]

Card-based forex transactions rise

Foreign currency transactions through cards reached a four-month high in April, reflecting a rebound in international travel and improved economic stability in Bangladesh...

www.newagebd.net

Card-based forex transactions rise
Staff Correspondent 12 June, 2025, 23:11

A file photo shows a salesperson swiping a credit card of a customer through a POS machine in the capital Dhaka. | New Age photo Wellness retreats.

Foreign currency transactions through cards reached a four-month high in April, reflecting a rebound in international travel and improved economic stability in Bangladesh.

According to Bangladesh Bank data, card-based foreign currency transactions totalled Tk 728 crore in April, up from Tk 614 crore in March, Tk 604.19 crore in February, and Tk 681 crore in January.

However, April’s figure remains below the Tk 834 crore spent abroad via cards in December 2024 — the highest of the year.

December 2023 had recorded even higher card-based overseas spending at Tk 929 crore.

With educational institutions in Bangladesh closed during this period, many people travel abroad with their children, contributing to the rise in foreign currency transactions via cards, bankers said.Bangladeshi cuisine recipes

Bankers noted that the foreign exchange transactions by cards depended on availability of dollars and the number of travellers going abroad.

Bankers attribute the April rise to several factors including greater foreign currency availability, increased outbound travel, and seasonal patterns.

They said that due to restricted visa issuance from India, many travellers shifted destinations to Southeast Asia, the Middle East, and Europe for medical, education, and tourism purposes.

Another key driver behind increased card transactions is the improved availability of US dollars in the market.

According to the Bangladesh Bank, the country received $27.5 billion in remittances from July 2024 to May 2025 — 28.7 percent up from $21.37 billion during the same period in FY24.Bangladeshi cuisine recipes

This surge in remittance inflow helped stabilise the dollar market, making it easier for banks to meet the foreign exchange demands of individual travellers.

Bankers also point to the devaluation of the taka as a contributing factor. The dollar has steadily risen from Tk 85.80 in December 2021 to Tk 123 in recent months, raising the local currency equivalent of any foreign transaction.

Despite this, card usage has grown due to convenience and accessibility.

Banks have streamlined their forex card services, making it easier for customers to pay tuition fees, hospital bills, and shopping expenses abroad without the need for physical cash or lengthy approval processes.

The card-based foreign currency transactions started rebounding after July 2021 with relaxation of travel restrictions and the amount crossed Tk 250 crore in December 2021. In July 2022, it was Tk 441 crore.

The monthly average transaction volume through cards remains over Tk 600 crore for a year.

Foreign currency transactions using cards have experienced significant growth in the current financial year, as it has become much easier for travellers to obtain foreign currency through cards from banks, bankers said.

Transactions like shopping bills and utility payments can now be made with ease, and transferring money between banks takes just a click—reducing the need to carry cash and making daily life more convenient.​

 

[Saif]

Bangladesh to become half a trillion-dollar economy in FY27

The government expects the country’s economy to cross the $500 billion mark in the fiscal year (FY) 2026-27, buoyed by stabilising policies and sectoral improvements.

www.thedailystar.net

Bangladesh to become half a trillion-dollar economy in FY27
Govt also estimates gross national income to cross $500b in FY26

The government expects the country's economy to cross the $500 billion mark in the fiscal year (FY) 2026-27, buoyed by stabilising policies and sectoral improvements.

These projections were made by the Finance Division in its Medium-term Macroeconomic Policy Statement, released on June 2 alongside the national budget proposal for FY26.

The statement includes forecasts for gross national income (GNI), foreign exchange reserves, exports, imports and inflation through to FY28.

These projections were made using forecasting models developed by the International Monetary Fund (IMF) and the World Bank, adjusted with historical data.

Gross domestic product (GDP) measures the total market value of all goods and services produced within a country in one year, according to Investopedia.

GNI, by contrast, includes income earned by residents and businesses both at home and abroad.

According to the Finance Division, the nominal GDP of Bangladesh will reach $514 billion in FY27, up from a provisional estimate of $463 billion in FY25. In FY26, it is projected to stand at $487 billion.

GNI is expected to overtake the GDP earlier, with the government forecasting it to hit $512 billion in FY26, up from $486 billion in FY25.

However, some economists have questioned the reliability of the data used to make these predictions.

"The Bangladesh Bureau of Statistics is still relying on previous figures. It should carry out fresh surveys to reveal the real state of the economy," said Professor Mustafizur Rahman, a distinguished fellow at the local think tank Centre for Policy Dialogue (CPD).

He said that based on previous figures and accounts, GDP might exceed the half-trillion mark in FY27 if the government meets its growth targets of 4 percent in FY26 and 5.5 percent in FY27.

As for GNI, the economist added, "It is always higher than GDP in Bangladesh because our nationals earn more abroad than foreign nationals earn here."

The upbeat outlook by the government comes at a time when several international development partners, including the World Bank, IMF and Asian Development Bank, have offered more cautious estimates.

Citing political uncertainty, weak investment and geo-political tensions, they expect real GDP to grow between 3 and 4 percent in FY25.

In its provisional estimate for FY25, state-owned statistical agency BBS also projected GDP growth at 3.97 percent

Despite the current slowdown, the Finance Division expects a gradual recovery. It projects real GDP growth to reach between 5.5 and 6.5 percent by FY28, supported by efforts to bring down inflation, boost productivity and strengthen the external sector.

"The government's efforts to control inflation, enhance productivity, and maintain external resilience will be critical for ensuring macroeconomic stability," said the policy statement.

Following the Covid-19 pandemic, Bangladesh struggled to keep its exchange rate stable as foreign currency reserves depleted fast.

For FY25, the Finance Division revised the estimate for foreign exchange reserves to $26.7 billion, down from $31.8 billion in the original projection.

In FY24, actual forex reserves were at $26.9 billion.

The government expects reserves to rise to $34 billion in FY26, with a slight increase the following year.

Professor Rahman said the target could be met, but only under certain conditions.

"Gross reserves might cross $34 billion, but that depends on assumptions that import growth stays low at around 6 percent and export growth remains strong," he said.

But sluggish import growth could spell trouble, he said.

"If import growth stays this low, it does not bode well for GDP growth, investment or job creation. This trend is mainly due to falling imports of capital machinery.

"What we need is higher imports of capital machinery, not just a push to increase foreign currency reserves," he added.

The central bank currently uses two methods to measure foreign currency reserves. According to Bangladesh Bank data, gross reserves stood at $25.8 billion on May 29, while the BPM6 method by the IMF recorded it at $20.6 billion.

"We need to maintain reserves at a sustainable level," said Rahman. "But we must also remember that reserves will be used if investment rises and capital machinery imports go up."

"I would prefer strong investment, higher growth, stable reserves and a steady exchange rate rather than low investment, weak growth and artificially high reserves," he added.​

 

[Saif]

Govt spending among world's lowest, signals further fall

Bangladesh's aggregate public spending remains among the lowest in South Asia and in the world at large as the government walks tightrope to make two ends meet principally for weak revenue mobilisation, and finance officials foresee further fall. The ministry of finance predicts that in the ou

thefinancialexpress.com.bd

Insufficient revenue, budget-deficit caps squeeze fiscal space
Govt spending among world's lowest, signals further fall

FE REPORT
Published :
Jun 14, 2025 00:32
Updated :
Jun 14, 2025 00:32

Bangladesh's aggregate public spending remains among the lowest in South Asia and in the world at large as the government walks tightrope to make two ends meet principally for weak revenue mobilisation, and finance officials foresee further fall.

The ministry of finance predicts that in the outgoing fiscal year the government expenditure may rise to 13.2 per cent before taking a downturn again to reach 12.7 per cent in the next fiscal year, as a share of GDP.

In the latest Medium-Term Macroeconomic Policy Statement (MTMPS), the finance ministry says while it is projected to remain at approximately 12.8 per cent of GDP over the medium term, "the projected level of government expenditure is highly susceptible to downside risks".

"In the absence of significant enhancements in revenue collection, government's capacity to maintain elevated expenditure levels…may be compromised, thereby constraining long-term economic prospects."

The finance officials think increased expenditure is crucial to advancing key development priorities and supporting sustained economic growth.

The MTMPS points out that Bangladesh's public spending is significantly lower than that of neighbouring countries like India, Nepal and Pakistan. Data show public expenditure in Bhutan is over 25 per cent of GDP, in India is nearly similar, in Pakistan over 15 per cent, Nepal nearly 20 per cent, Indonesia 15 per cent, in the United States over 35 per cent, and Germany's is nearly 50 per cent. A key reason behind low public expenditure is Bangladesh's adherence to a de facto fiscal rule that caps the budget deficit at 5.0 per cent of gross domestic product, it notes.

With the revenue-to-GDP ratio stagnating around 8.0 per cent for many years, the government has little option but to maintain a correspondingly low level of expenditure, the MTMPS reads.

Consequently, the persistently low tax-GDP ratio has emerged as a major structural constraint, limiting government's ability to expand public spending and necessitating gradual efforts to increase it.


The macroeconomic policy mentions that government expenditure in Bangladesh has remained relatively modest and requires substantial augmentation to meet the country's development needs.

Over the past five fiscal years (FY20-FY24), the average annual growth rate of government spending was 9.4 per cent, falling short of the nominal GDP-growth rate, which averaged 11.2 per cent during the same period.

During this period, the overall growth in the revised budget allocation was 10.1 per cent, and the average growth of the development budget was only 8.5 per cent -- an insufficient pace considering the investment-driven demands of Bangladesh's economy.

Moreover, the situation deteriorated further in FY25, with the revised development budget for the year registering a 17-percent decline year on year.

The MTMPS also mentions that "notable strides are being made to improve the efficiency and rationality of public expenditure, particularly through a comprehensive review of ongoing projects".


As a result of these policy adjustments, government spending for FY26 has been scaled down compared to the previous fiscal year.​

 

[Saif]

Can spending cuts cool inflation?

The proposed national budget for the 2025-26 fiscal year is shaped by a strong resolve to tackle the long-standing and urgent problem of inflation. Although numerous aspects of the budget adhere to established trends, there is a clear trend towards contractionary policies, which means the governmen

thefinancialexpress.com.bd

Can spending cuts cool inflation?

SYED MUHAMMED SHOWAIB
Published :
Jun 14, 2025 00:29
Updated :
Jun 14, 2025 00:29

The proposed national budget for the 2025-26 fiscal year is shaped by a strong resolve to tackle the long-standing and urgent problem of inflation. Although numerous aspects of the budget adhere to established trends, there is a clear trend towards contractionary policies, which means the government is trying to cut back on expenditure. Set at Tk 7.9 trillion, this budget is Tk 70 billion lower than the original outlay for the current 2024-25 fiscal year. This reflects a rare reversal in the usual pattern of expanding government budgets. Given that this budget was presented by an interim administration, with national elections scheduled for first half of 2026, this approach was perhaps inevitable. The public largely perceives this administration as a caretaker government, responsible only for essential reforms and election preparations. As such, the government has refrained from allocating funds for big-ticket infrastructure projects typically pursued by elected governments.
FE

A large portion of the budget is driven by a basic fiscal reality in which mandatory expenditures take up most the government's resources. A massive Tk 1.13 trillion has been allocated solely for interest payments on existing debt. This number is almost one-seventh of the entire budget, but the public receives no real benefit from it. With the overall amount of the government's domestic and foreign debt approaching $100 billion, it simply represents the weight of prior borrowings. That means a significant portion of the budget is already spoken for before a single new policy initiative is implemented. The estimated Tk 820 billion in core revenue expenses involving salaries and benefits is another fixed cost. Apparently, the budgetary priorities are wildly out of balance. The amount set aside for interest payments is more than what is to be spent on either education and technology or transport and communication, which are both very important for the long-term economic growth and development. It's no surprise that inflation gets harder to control in a country that spends more on paying off its debt than on building up its people or its assets.

However, the government's allocations in sectors outside these mandatory expenditures show a clear intention to bring inflation under control. This is no easy task for an interim administration, especially at a time when falling foreign exchange reserves and strict IMF loan conditions are creating added pressure. When the interim government took office about ten months ago, inflation was spiraling, reaching 11.66 per cent in July 2024, which is one of the highest rates in recent memory. Since then, the government has managed to marginally ease inflation into 10.89 per cent in December 2024 and further to 9.17 per cent in April 2025. The finance adviser is optimistic that inflation could fall to 8 per cent by the end of the current fiscal year and to 6.5 per cent by the close of FY 2026. However, whether these targets are achievable will depend on a combination of factors.

One such factor is the stability of the newly adopted floating exchange rate. Bangladesh switched to this system last month and the exchange rate hasremained stable since then. In the short term, this stability grants the Bangladesh Bank greater control over monetary policy, allowing it to focus on domestic inflation without the burden of defending a fixed exchange rate. However, Bangladesh's economy is heavily import-dependent. If the Taka depreciates significantly, import costs will rise, pushing up prices for essential goods and raw materials. This pass-through impact has potential to reignite inflation. Moreover, a fluctuating exchange rate could create business uncertainty, reduce investor confidence, and instill inflationary expectations in the public's mind. If these risks materialize, the progress made so far in controlling inflation could be undone rapidly.

Another critical area is revenue collection. The proposed budget sets an ambitious target of Tk 5.64 trillion in revenue, with Tk 4.99 trillion expected to come via NBR. This goal is equal to roughly 9 per cent of the country's GDP, and is, by most standards, highly optimistic. Historically, Bangladesh has struggled to meet its revenue targets. In FY 2023-24, the highest-ever revenue collection was only Tk 3.82 trillion. Given the current slowdown in economic activity, rising unemployment, and subdued investment climate, it is difficult to see how this year's revenue target will be met without resorting to desperate measures.

If revenue collection falls short, as it likely will, the resulting budget deficit will compel the government to borrow more, both domestically and from foreign sources. Domestic borrowing, especially from the banking sector, poses its own inflationary risks. If the government turns to the central bank for financing, it would be tantamount to printing new money, increasing the money supply without a corresponding increase in goods and services. This scenario is a textbook recipe for inflation. Even borrowing from commercial banks could lead to credit expansion, which would further fuel inflationary pressure.

The government has so far pursued a contractionary monetary policy, raising the policy interest rate by 150 basis points to 10 per cent. However, there is only so much that monetary tightening can achieve on its own in curbing inflation. When inflation is also fueled by structural inefficiencies, supply chain disruptions, and lax fiscal discipline, monetary policy alone cannot offer a comprehensive solution.

To its credit, the budget does make provisions for protecting the most vulnerable segments of society. Food subsidies are set to rise by nearly 20 percent and the number of low-income families receiving food assistance will also grow. These measures are necessary, but they must be implemented efficiently to ensure that relief reaches those who need it most.

If the government stays committed to aligning fiscal and monetary policies, stabilizing the exchange rate, boosting production and protecting the livelihoods of low-income groups, there is a genuine possibility of bringing inflation under control. It remains uncertain whether the interim administration will have the time or political inclination to implement these reforms fully, but the groundwork, at the very least, seems to be in place.​

 

[Saif]

World Bank approves $250 million loan to Bangladesh

The World Bank said on Saturday it approved $250 million loan to the government while more in pipeline from other lenders, laying importance mostly on transparency, accountability and public service delivery.

www.newagebd.net

World Bank approves $250 million loan to Bangladesh
More in pipeline with focus on transparency, accountability, public service
Staff Correspondent 14 June, 2025, 15:45

The World Bank said on Saturday it approved $250 million loan to the government while more in pipeline from other lenders, laying importance mostly on transparency, accountability and public service delivery.

The WB loan will facilitate the implementation of the ‘Strengthening institutions for transparency and accountability’ project until 2030 to modernise public service delivery at the Bangladesh Bureau of Statistics, National Board of Revenue, Planning Division, Bangladesh Public Procurement Authority, and the Office of the Comptroller and Auditor General.

In a press release issued on the day, the World Bank also said that the loan was approved ahead of the proposed budget support worth $500 million that was expected to be discussed in its board meeting later this month.

It hoped that the $500 million support would help ensure transparency and accountability in domestic revenue mobilisation, banking sector, data production and dissemination, public investment management and procurement, audit and accountability, and the delivery of social programmes.

The ‘Strengthening institutions for transparency and accountability’ project would supplement the proposed budget support, according to the release.

The approval of the $250 million loan by the WB on Saturday came ahead of the board meeting of the International Monetary Fund scheduled for June 23.

The IMF board meeting will decide on the disbursement of the combined fourth and fifth tranches under the $4.7 billion loan programme going on since 2023.

Bangladesh received $2.3 billion in three tranches until June 2024 under the loan programme initiated by the Awami League government before being ousted on August 5, 2024 amid a mass uprising.

Finance ministry officials calculated that the country had received $1.2 billion in budget support in the outgoing financial year of 2024–25 expiring on June 30.

This includes $500 million from the WB under the ‘Second Bangladesh green and climate resilient development policy credit’ signed in December 2024, $600 million from the Asian Development Bank in May under the ‘Strengthening economic management and governance (Sub-Programme-1), and $100 million from the Organization of the Petroleum Exporting Countries und in April.

Officials also said that the proposed $500 million budget support from the WB and $418 million Development Policy Loan from Japan and a $300 million loan from the Asian Infrastructure Investment Bank were currently in pipeline.

They noted that the original projection on availability of budget support in the outgoing FY2024–25 was $2.6 billion.

The WB in its press release said that the investment under the ‘Strengthening institutions for transparency and accountability’ project would leverage digitisation of business processes to help improve transparency so that public institutions become better capable of serving an emerging economy.

This project will help modernise tax administration and increase tax compliance, thereby improving much-needed revenue mobilisation and fiscal sustainability. It will also help improve the efficiency and accountability of public spending, ensuring that resources are utilised effectively for the benefit of all citizens. It will develop second generation of electronic government procurement (e-GP) and broaden its scope, according to the WB press release.​

 

[Saif]

Full automation needed for NBR to implement simpler tax refund process

The National Board of Revenue (NBR) is contemplating whether to introduce an automatic system for refunding excess taxes realised from taxpayers. “We are thinking to send back the refund money directly to the taxpayer's bank account,” a senior NBR official said, UNB reports. But

thefinancialexpress.com.bd

Full automation needed for NBR to implement simpler tax refund process

Published :
Jun 15, 2025 21:01
Updated :
Jun 15, 2025 21:01

The National Board of Revenue (NBR) is contemplating whether to introduce an automatic system for refunding excess taxes realised from taxpayers.

“We are thinking to send back the refund money directly to the taxpayer's bank account,” a senior NBR official said, UNB reports.

But he said that for this system, everything needs to come under the automated system.

The tax refund system in Bangladesh is governed by the National Board of Revenue (NBR) under the Income Tax Ordinance, 1984.

A tax refund arises when a taxpayer has paid more tax than their actual liability for a given fiscal year. Overpayments may occur due to excess tax deduction at source (TDS), advance tax payments, or miscalculation during tax assessments.

To claim a refund, an individual or organisation must submit a formal application along with their annual income tax return (Form-IT-11Ga for individuals or Form-IT-11Gha for companies) within the assessment year.

Supporting documents, such as TDS certificates and payment challans, are required to verify the excess amount paid.

Once submitted, the concerned tax circle officer reviews the application. If the claim is found to be valid, the refund is processed and paid either through direct bank transfer or treasury cheque.

However, the refund process in Bangladesh is often criticised for being time-consuming and bureaucratic.

Delays in processing, lack of automation, and limited taxpayer awareness contribute to low refund issuance rates. In many cases, taxpayers prefer to adjust the excess amount against future tax liabilities rather than await a refund.

To improve the system, the senior NBR official said that the NBR has taken steps to digitise tax return submissions and promote transparency.

The official said that the introduction of the Integrated Tax Administration System (ITAS) aims to streamline tax processes, including refunds, through electronic filing and tracking.

“Efficient tax refund mechanisms are essential for fostering taxpayer confidence and encouraging voluntary compliance,” he said.

He also mentioned that a transparent and prompt refund system would not only benefit individual taxpayers and businesses but also strengthen the overall tax culture in Bangladesh.

“Greater awareness campaigns and institutional reforms are needed to ensure that entitled refunds are processed fairly and timely,” he added.

The NBR official also said that when the total system is automated without any intervention, it would be possible to make the tax refund directly.

“Taxpayers' bank accounts will be connected with the Bangladesh Bank, when the designated officer approves the tax refund, the money will be refunded automatically,” he said.

He also said that there will be no physical interaction in this process as the tax officials will examine everything through an interconnected system.

“But at present, the refund process is a very complex issue in the country, and sometimes some unethical matters get involved in this refund; we have to remove this,” he said.

The NBR senior official said that if the process can be made easy, there is no problem in introducing the automatic refund system in the country to boost taxpayers' confidence.

“We are earning some Tk 4 lakh as revenue, it would not be a matter for us if we refund genuinely Tk 500 crore to the taxpayers,” he said.​

 

[Saif]

Bangladesh’s remittance growth almost 25pc in outgoing fiscal

Bangladesh received US $1.15 billion in remittances in the first 14 days of June 2025, a slowdown of 30.1 per cent year-on-year. Despite this slide, Bangladesh's remittance earnings grew by 24.5 per cent in the current fiscal year 2024-25. Bangladesh received $28.65 billion in remittances so far i

thefinancialexpress.com.bd

Bangladesh’s remittance growth almost 25pc in outgoing fiscal

UNB
Published :
Jun 16, 2025 00:28
Updated :
Jun 16, 2025 00:28

Bangladesh received US $1.15 billion in remittances in the first 14 days of June 2025, a slowdown of 30.1 per cent year-on-year.

Despite this slide, Bangladesh's remittance earnings grew by 24.5 per cent in the current fiscal year 2024-25. Bangladesh received $28.65 billion in remittances so far in FY25, which was $23.01 billion in the previous FY24.

According to Bangladesh Bank's latest update, the expatriates have sent $1.15 billion remittance in 14 days of June 2025, which was $1.64 billion in June 2024. Last year, Eid-Ul-Azha was celebrated in the third week of June last year. As a result, remittance in that time was 30.1 per cent higher.

The expatriates sent $27.5 billion remittance in 11 months (July-May) of the current FY25. The scenery of 11 months' remittance is as follows:

*May $2.97 billion

*April: $2.75 billion

*March: $3.29 billion

*February: $2.53 billion.

*January: $2.19 billion

*December: $2.64 billion

*November $2.2 billion

*October: $2.39 billion

*September: $2.4 billion

*August: $2.22 billion

*In July: $ 1.91 billion​