Bangladesh Economy

Remittances exceed $3 billion in December, reserves at highest in 3 years.

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In the 29th day of this month, the country received $3 billion in expatriate income, which helped alleviate the dollar crisis.

On the other hand, Bangladesh Bank's total foreign exchange reserves, which were purchased from banks, have exceeded $33 billion or $33 billion, the highest in the last three years.

Previously, in 2017, the reserves exceeded $33 billion for the first time, and reached $48 billion in 2021. At the time of the fall of the Awami League government, the reserves had fallen to $26 billion.

Expatriate income picture

In the first 29 days of this month, expatriate income exceeded $3 billion or $3 billion. $3.04 billion came into the country in 29 days.

The positive trend in expatriate income has continued since the fall of the Awami League government in August last year. This led to a record expatriate income in March. In that month, $3.29 billion in expatriate income came to the country, which is the highest expatriate income in a single month so far. Since then, expatriate income has again exceeded $3 billion this month.

According to Bangladesh Bank, the country received a total of $30.33 billion in expatriate income in the 2024-25 fiscal year. The previous fiscal year, 2023-24, saw $23.91 billion in expatriate income.
সোর্স: Prothom Alo English https://share.google/MHqhUpd7DVCDEy6dV

This is actually meaningful improvement stemming from post July-revolution IG reforms in economy sector.

Do you think BD expats suddenly had an increase of 7 billions in income overnight? No, they didn't.

However choton gang's success (🫨) on cracking down hundi and money laundering has resulted in nearly $7 billions increase in remittance inflow over a year.

@LeonBlack08 @AbuShalehRumi @Bengal71 @Michael Corleone @Arthur @Avicenna @Al-Zakir @Oscar
 
Afif said:
This is actually meaningful improvement stemming from post July-revolution IG reforms in economy sector.
Click to expand...
Yunus admin did a much needed economic reboot (still in progress). Yunus administration could have done much more if our awami infested government employees were cooperative. NBR strike is a prime example.
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Yet Yunus administration managed to reduce food inflation and keep food prices stable. That matters to the common folks who simply doesn't understand wtf is economics.
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Now, we need to recalculate our GDP with proper data to increase tax net. Debt servicing is already eating ~30% of our annual budget!
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Looking at our electricity consumption per Capita I think our GDP is below 400 billions. And we must delay our LDC graduation. Our economy isn't ready for it...
 
Afif said:
This is actually meaningful improvement stemming from post July-revolution IG reforms in economy sector.

Do you think BD expats suddenly had an increase of 7 billions in income overnight? No, they didn't.

However choton gang's success (🫨) on cracking down hundi and money laundering has resulted in nearly $7 billions increase in remittance inflow over a year.

@LeonBlack08 @AbuShalehRumi @Bengal71 @Michael Corleone @Arthur @Avicenna @Al-Zakir @Oscar
Click to expand...
I will read this development as an increase of trust upon the IG.

July made this possible.

Do you think anu subsequent political government is going to enjoy thisy level of trust and continued economic success?

Surely not.
 
The foreign reserves of BD are yet to reach the heights they saw under Bangabandhobi. The softer food inflation is a global phenomena driven by lower food and fuel prices. We are seeing that in PAK and IND too.

To give credit to the IG, it hasn't done anything to seriously damage the economy, but it has done nothing out of the way to boost it either.

The true process of reviving the economy will start only when a full time elected government is in place.

Regards
 
SoulSpokesman said:
The foreign reserves of BD are yet to reach the heights they saw under Bangabandhobi.
Click to expand...
Yes, a reserve inflated by foreign loans and pending import bills, will be a tough task to reach 😂
SoulSpokesman said:
To give credit to the IG, it hasn't done anything to seriously damage the economy, but it has done nothing out of the way to boost it either.
Click to expand...
Being blind is a choice.

1. Halted looting of public funds by Awami partisan goons
2. Major overhaul of the revenue board
3. Ousting partisan mafias from CTG port and handed over to professional management.
4. All major revenue/customs services for business are now digitised & available online

CTG port alone handled a record breaking load of 3.4 million TEUs handled and a reported revenue of Tk 5000+ crore.

The list will go on.

But yes not "Bingobandhubi" 😂
 
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