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The Financial Express

Search results for: economy

Savings certificates, non-bank sources to be tapped for domestic financing

Savings certificates, non-bank sources to be tapped for domestic financing

UNB 2021-06-03 18:54:19

A substantial portion of the proposed 6.2 per cent of GDP budget deficit in the next fiscal will be met from the local sources, where a total of Tk 370.01 billion will be taken out from the savings ce...

FM proposes allocation of TK 100b for Covid-19 emergency requirements

FM proposes allocation of TK 100b for Covid-19 emergency requirements

UNB 2021-06-03 18:12:53

As Covid-19 has devastated normal life, Finance Minister AHM Mustafa Kamal proposed to allocate Tk 100 billion in the next fiscal year (FY22) to meet the emergency requirements to respond to the pande...

Individual tax rate to remain unchanged in FY22

Individual tax rate to remain unchanged in FY22

-- 2021-06-03 17:52:33

Finance Minister Mustafa Kamal is planning to keep the individual tax rate unchanged in the proposed national budget for the fiscal year 2021-22. The threshold of tax-free income was raised to Tk 300...

Cigarette prices rise

Cigarette prices rise

-- 2021-06-03 17:44:09

Bangladesh plans to push the price of cigarettes to reduce smoking and increase tax revenue. The minimum price for 10 sticks of low-tier cigarettes will be set at Tk 39, with a supplementary duty of...

Bangladesh eyes 7.2pc GDP growth in new fiscal year

Bangladesh eyes 7.2pc GDP growth in new fiscal year

-- 2021-06-03 17:05:51

Bangladesh has set a 7.2 per cent GDP growth target for the new fiscal year starting July 01 amid a second wave of coronavirus infections that is sweeping across the country. In order to implement th...

Govt slashes corporate tax rates in new budget

Govt slashes corporate tax rates in new budget

-- 2021-06-03 16:44:32

Finance Minister AHM Mustafa Kamal has recommended an array of cuts to the current corporate tax rates in the proposed budget for fiscal 2021-22. In an effort to boost the ratio of private investment...

VAT reduction on paper cone manufacturing proposed

VAT reduction on paper cone manufacturing proposed

FE ONLINE REPORT 2021-06-03 16:43:56

Finance Minister AHM Mustafa Kamal has proposed to make necessary amendments in the rules and to reduce VAT on paper cone manufacturing from 15 per cent to 5.0 per cent in the budget for the next fisc...

Additional export incentive for RMG sector likely to continue in FY22

Additional export incentive for RMG sector likely to continue in FY22

FE Online Report 2021-06-03 16:17:03

Finance Minister AHM Mustafa Kamal has proposed to continue 1.0 per cent additional export incentive for the country's readymade garment (RMG) sector in the next fiscal year (FY22). The government st...

Bangladesh attains Asia's highest GDP growth in FY 2020-2021

Bangladesh attains Asia's highest GDP growth in FY 2020-2021

FE ONLINE DESK 2021-06-03 16:01:23

Bangladesh has been able to achieve a real GDP growth of 5.2 per cent, which is the highest in Asia, in the outgoing fiscal year (FY) 2020-2021. Finance Minister AHM Mustafa Kamal unveiled this while...

Inflation target set at 5.3pc for FY22

Inflation target set at 5.3pc for FY22

-- 2021-06-03 15:58:25

Bangladesh aims to keep the average inflation rate at 5.3 per cent in fiscal 2021-22 as part of the efforts to prevent a price spiral amid the coronavirus pandemic. The inflation target was set out i...

Bangladesh allocates Tk 100 billion for emergency response to Covid-19 pandemic

Bangladesh allocates Tk 100 billion for emergency response to Covid-19 pandemic

-- 2021-06-03 15:50:57

Bangladesh plans to set aside Tk 100 billion in the coming fiscal year to meet expenses related to unanticipated emergencies due to the COVID-19 pandemic. The amount is consistent with that of the cu...

Bangladesh unveils 50th budget worth Tk 6.03 trillion

Bangladesh unveils 50th budget worth Tk 6.03 trillion

FE ONLINE DESK 2021-06-03 15:21:20

The government has unfurled the national budget for the next fiscal year (FY) 2021-22. Finance Minister A H M Mustafa Kamal placed the budget titled 'Jibon jibikar pradhanya diye sudriro agamir pothe...

Cabinet approves proposed budget for next fiscal

Cabinet approves proposed budget for next fiscal

-- 2021-06-03 14:55:03

The Cabinet at a special meeting on Thursday approved the proposed 50th national budget for the fiscal year 2021-22, seeking to revive the pandemic-hit economy, UNB reports. Prime Minister Sheikh Has...

Thai parliament passes $99.7b budget bill at first reading

Thai parliament passes $99.7b budget bill at first reading

-- 2021-06-03 11:20:54

Thailand's House of Representatives on Wednesday approved in principle a 3.1 trillion baht (about 99.7 billion US dollars) budget bill for the 2022 fiscal year. Following a three-day debate, governme...

Vietnam's garment export rises 15pc in five months

Vietnam's garment export rises 15pc in five months

-- 2021-06-03 11:09:03

Vietnam raked in over 12.2 billion US dollars from exporting textile and garment between January and May, up 15 per cent against the same period last year, according to the country's General Statistic...

Bangladesh's debt servicing on rise

Bangladesh's debt servicing on rise

FHM HUMAYAN KABIR 2021-06-03 09:23:17

Bangladesh's debt servicing to overseas lenders is rising year-on-year, as the government opts for higher hard-term borrowing in recent years, analysts said on Monday. The debt servicing against di...

Bangladesh's 2020 jobless rate up at 5.3pc: ILO

Bangladesh's 2020 jobless rate up at 5.3pc: ILO

MONIRA MUNNI 2021-06-03 08:31:43

Bangladesh's unemployment rate increased by 1.1 per cent to 5.3 per cent in 2020 mainly due to the Covid-19 pandemic that created a labour market crisis globally, according to a new assessment by th...

Bangladesh set to unveil 2nd Covid-time budget today

Bangladesh set to unveil 2nd Covid-time budget today

JASIM UDDIN HAROON 2021-06-03 08:07:28

The government unfurls the national budget for the next fiscal year (FY), 2021-22, today (Thursday), prioritising Covid-19, health sector, social safety-net and agriculture. Finance Minister A H M Mu...

220m people expected to remain unemployed globally this year, ILO says

220m people expected to remain unemployed globally this year, ILO says

-- 2021-06-02 18:23:30

At least 220 million people are expected to remain unemployed globally this year, well above pre-pandemic levels, with a weak labour market recovery exacerbating existing inequalities, the Internation...

NID services to be provided from Home Ministry

NID services to be provided from Home Ministry

-- 2021-06-02 16:41:12

All the activities relating to National Identity (NID) cards will be provided from the Home Ministry within the next two months. Liberation War Affairs Minister AK Mozammel Haque came up with the ann...

Eurozone inflation rate rises to 2pc in May

Eurozone inflation rate rises to 2pc in May

-- 2021-06-02 14:52:29

The Eurozone inflation rate continued to rise in May as the Harmonised Index of Consumer Prices (HICP) reads at two per cent year on year, according to preliminary estimates from Eurostat on Tuesday....

Initiative taken to devise strategy to cushion shocks to export

Initiative taken to devise strategy to cushion shocks to export

REZAUL KARIM 2021-06-02 10:26:12

The government has taken an initiative to devise a strategy to cushion possible external shocks to the country's export trade, officials said. While working out the strategy, they said, the governmen...

Give priority to people's welfare in budget: BEA

Give priority to people's welfare in budget: BEA

FE REPORT 2021-06-02 09:49:36

Bangladesh Economic Association (BEA) on Tuesday placed an alternative national budget of Tk 17.39 trillion, which is 68.4 per cent of the country's GDP, for the fiscal year (FY) 2021-22. The platfor...

Inward remittances soar 39pc in first 11 months

Inward remittances soar 39pc in first 11 months

SIDDIQUE ISLAM 2021-06-02 09:23:32

The inflow of remittances reached nearly US$ 23 billion in the first 11 months of the current fiscal year (FY), registering an increase of more than 39 per cent despite the Covid-19 pandemic, official...

FM, his Australian counterpart discuss progress on TIFA

FM, his Australian counterpart discuss progress on TIFA

-- 2021-06-01 21:57:09

Bangladesh and Australia are in discussion to sign a Trade and Investment Framework Agreement (TIFA) as the two countries want to take the relations to a new height shifting from development assistanc...

Sri Lanka's headline inflation increases to 4.5pc in May

Sri Lanka's headline inflation increases to 4.5pc in May

-- 2021-06-01 16:06:30

Sri Lanka's year-on-year headline inflation, as measured by the Colombo Consumer Price Index (CCPI), rose to 4.5 per cent in the month of May, local media reported here Tuesday. Data from the Central...

Bangladesh set to miss revenue target, thanks to pandemic impact

Bangladesh set to miss revenue target, thanks to pandemic impact

DOULOT AKTER MALA 2021-06-01 08:47:50

The revenue board is almost certain that the revenue receipt during the outgoing fiscal year (FY) will fall far short of the revised target because of the pandemic effect. The National Board of Reven...

Institutional weakness blunts Covid response: CPD

Institutional weakness blunts Covid response: CPD

FE REPORT 2021-06-01 08:41:26

The government's efforts to mitigate public sufferings and overcome the adverse impacts of coronavirus on the economy have been marred by institutional weaknesses and inability to implement its reform...

‘Budget must focus more on protecting jobs, less on GDP growth’

‘Budget must focus more on protecting jobs, less on GDP growth’

-- 2021-05-31 20:06:00

The national budget for fiscal year 2021-22 (FY22) should focus more on equity, redistributive justice, protecting jobs and saving lives, and less on economic growth, according to the Centre for Polic...

Focus on equity & redistribution in budget, argues CPD

Focus on equity & redistribution in budget, argues CPD

FE ONLINE REPORT 2021-05-31 13:46:48

The national budget for the fiscal year 2021-22 (FY22) needs to focus more on equity and redistributive justice as well as protecting jobs and saving lives, argues a leading think-tank of the country...