|
July 24, 2021 NEWSLETTER |
|
|
Bangladesh’s economic recovery will continue this fiscal year: ADB The Asian Development Bank (ADB) in its Asian Development Outlook Supplement of July said Bangladesh's economic recovery will continue amid the second wave of Covid-19 much like the previous fiscal year, depending on exports and remittances. The ADB said in the first 11 months of the last fiscal year, exports increased by 13.6% and remittances increased by 39.5% while on the other hand revenue has increased by 12.9% in the first 10 months. The adverse economic impact of these new waves on the South Asian economy is “expected to be limited”, with businesses and consumers better able to adapt to the pandemic and containment measures now than they were a year ago, according to the report. Owing to a raft of measures, alongside a prudent economic management, as devised by Honourable Prime Minister (HPM) Sheikh Hasina, the economic recovery in the country has marked significant gains, despite the pandemic, over the last six months. |
|
Bangladesh re-enters its ‘strictest’ coronavirus lockdown, 1200 more Covid beds for hospitals 
The Bangladesh government has re-imposed a 14 day lockdown since this week with curbs dubbed “strictest yet” after a nine-day break for Eid-ul-Azha in a desperate intervention to stem the tide of coronavirus infections and deaths.The government has instructed six public hospitals in the capital to add another 1,200 Covid-19 beds in line with its policy to bolster healthcare facilities for the Covid patients. As the virus was detected in March last year in the capital, speedy arrangements from the government made as many as 5,717 Covid general beds operational in public and private hospitals in the capital. Moreover, works are underway to set up another 1,000-bed field hospital for Covid patients. |
|
Bangladesh plans to lower age cut-off for Covid vaccines to 18 years, 3.2 million more jabs arrive 
As a step toward resuming academic activities at educational institutions, the government is planning to allow people 18 years old or above to register for Covid vaccines on the government’s ‘Surokkha’ platform that currently accepts people aged at least 30 years eligible for the jabs. Moreover, the country has started administering COVID-19 vaccine doses, without registration, to readymade garment (RMG) workers. In a related development, as many as 3 million doses of Moderna vaccine from the United States arrived in Dhaka under the COVAX facility while another consignment comprising 2,45,200 doses of Oxford AstraZeneca vaccine arrived from Japan as part of the latter’s commitment to donate another 2.8 million shots. |
|
AL government allocates stipends for 14 million primary students 
As directed by HPM Sheikh Hasina, the government has recently provided financial assistances to some 14 million primary school students as stipends of six months and ‘Kit Allowance’ for buying dresses, shoes and bags. According to media reports, the money for the six-month stipend from July to December 2020 has already been disbursed to the accounts of the parents of the students through digital payment. In addition, each of the primary school students has been given $12 to buy clothes, bags and shoes, thanks to an earlier pledge made by the Bangladesh premier. |
Despite worsening Covid-19 pandemic situation around the world, remittance inflow again showed a robust growth at the beginning of the new fiscal year. Bangladeshi expatriates from different countries have sent home around $1.27 billion in the first 15 days of July. If this flow of remittance continues, Bangladesh will achieve a record amount of expatriate earnings at the end of the current month. In June, the expatriates sent home $ 1.94 billion remittance. As a result, the amount of remittances in the just-concluded 2020-21 fiscal year stood at about $24.78 billion, highest-ever in a fiscal year. Over 10 million Bangladeshi expatriates are working in different countries and sending hard-earned earnings to their families in the country, accounting for 12% of the country’s GDP. |
|
‘Made in Bangladesh’ bicycle exports soar 
The export of 'Made in Bangladesh' bicycles has maintained a steady rise over the last few years with shipments of the item increasing 58% in the just concluded fiscal 2020-21. Bangladesh exported bicycles worth US$130.89 million in FY21, a rise of US$58.05 million from US$82.84 million in FY20, according to media reports. According to the World Bank (WB), Bangladesh is the 3rd largest non-EU exporter of bicycles to the EU market and the 8th largest exporter globally while the country has an opportunity to boost export of bicycles if the local manufacturers are given necessary policy and financial support, as the global bicycle market is expected to grow to $34.9 billion by 2022. |
|
Govt takes initiatives to boost mango export, Bangladeshi mangoes enter HK market
Aiming to boost mango export, the government has taken a number of initiatives including setting up three vapour heat treatment plants, issuing phytosanitary certificates and increasing agricultural practices to keep mangoes safe from production to shipment. Currently, Bangladesh ranks seventh among the world's top mango producing countries as cultivation increases rapidly each year. Moreover, a consignment of homegrown mangoes has been exported to Hong Kong (HK) for the first time in the country’s history. |
|
|
BANGLADESH AWAMI LEAGUE |
|