TDS Desk:

Planning and Education Adviser Dr Wahiduddin Mahmud on Wednesday noted that while inflation has slightly decreased, it remains high, continuing to exert pressure on day labourers and the middle class.

“Inflation is said to have decreased a bit, but I do not consider this a real decrease. Inflation is still rising,” he stated during a briefing after the Executive Committee of the National Economic Council (ECNEC) meeting at the NEC conference room in Dhaka.

Dr Mahmud highlighted the long-term setbacks caused by COVID-19 and social unrest, particularly in demographic advantages.

He pointed out that Bangladesh is in a transitional phase regarding its population age structure, which is expected to shift significantly over the next decade as the population ages.

This demographic shift will likely increase healthcare costs but can be mitigated through effective governance. He emphasised that the interim government should prioritise building a strong democratic system.

The adviser also pointed to some positive signs in the economy, such as a rebound in exports and increased remittances.

However, he reiterated that high inflation continues to weigh heavily on wage labourers and the middle class.

Discussing the country’s economic progress, Dr Mahmud revealed that by December of the current fiscal year, Tk40,000 crore had been spent under the Annual Development Program (ADP).

While this is lower than the Tk62,000 crore spent during the same period in the previous fiscal year, he expressed optimism that ADP implementation would accelerate with new projects under the interim government.

On other economic challenges, Dr Mahmud expressed skepticism about Bangladesh achieving self-sufficiency in edible oil and underscored the importance of a comprehensive water management plan for future development.

ECNEC approves 10 new projects worth Tk4,246.72 crore

The Executive Committee of the National Economic Council (ECNEC) has approved 10 new projects worth Tk4,246.72 crore, focusing on agriculture, infrastructure, energy, and education.

Chaired by Chief Adviser Prof Muhammad Yunus, the meeting aimed to promote economic growth through these strategic investments.

Of the total project cost, Tk3,632 crore will come from government funding, Tk205.79 crore from project loans, and Tk408.92 crore from the agencies’ resources.