CPD RMG Study Stitching a better future for Bangladesh
Every day, CPD RMG Study team reveals what’s on our economic and apparel radar and curates a selection of the best reports, opinion, and analysis you may have missed.
Private sector credit grow by 18.49%
Private sector credit grew 18.49 percent in February, up from 18.36 percent a month earlier and way past the central bank’s target of 16.3 percent. For the best part of 2017 the private sector credit growth has been on the rise, prompting the Bangladesh Bank in January this year to lower the banks’ loan-deposit ratio ceiling to 83.5 percent from 85 percent. Bankers insisted that the move created a severe liquidity crisis but the latest data from the BB suggests otherwise.
Bangladesh’s overseas employment decline by 25%
The country’s overseas employment declined by more than 25 per cent in the first quarter (Q1) of this calendar year over its corresponding period as employment opportunities shrunk at its key job destination countries mainly in Saudi Arabia. According to Bureau of Manpower Employment and Training (BMET), a total of 204,201 Bangladeshi workers went abroad with jobs during the January-March period of 2018 whereas 272,973 workers got overseas jobs in the matching period of 2017.
Inflation rate slightly down to 5.68%
Inflation came down slightly to 5.68 percent in March riding on a decline in food prices. In February, the inflation rate stood at 5.72 percent. Food inflation declined in the third quarter of the current fiscal year of 2017-18 on the back of a fall in prices of egg, vegetables, and spices. March’s inflation figure, however, was higher than the same month a year ago when it was 5.39 percent.
