5 key developments in economy last week
Bangladesh's economy faced several challenges last week, including a looming US trade investigation and persistent inflation. The government also made progress on a 5-year strategic plan to reach a trillion-dollar economy by 2034.
Bangladesh's economy was dominated by several key developments last week. The US Trade Representative is set to hold a hearing on April 29 regarding investigations into alleged overcapacity and forced labour in Bangladesh. Inflation has outpaced wage growth for 50 consecutive months, driving real incomes down. The government has drafted a 5-year strategic framework targeting a trillion-dollar economy by 2034, with a focus on ICT and exporting workers. Bangladesh is also scrambling to secure urea imports due to the shutdown of factories and concerns over the Strait of Hormuz. A significant digital divide persists between rural and urban populations, with a 32.1 percentage point gap in internet use.
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