Dhaka: After Sri Lanka, the shadow of economic crisis is also hovering over Bangladesh, where the trade deficit is increasing.
According to the details, Bangladesh’s foreign exchange reserves, ie forex reserves, are witnessing a decline.
Rising commodity, fuel, freight and food prices in the international market have also pushed up Bangladesh’s spending on imports. Increased.
According to Bangladeshi media reports, the expenditure on imports has increased but the revenue from exports has not increased in comparison, due to which the trade deficit has been increasing, more dollars have to be spent on imports, and Exports did not generate foreign exchange, leading to a decline in forex reserves.
The media reports that are coming out indicate a steady decline in forex reserves. The remaining forex reserves will be able to meet the import requirements for only 5 months, if commodities, crude and If food prices continue to rise, the fund could run out even before five months.
Between July and March 2021, Bangladesh imported 22 22 billion worth of industrial raw materials, up 54% from the previous year, and the import bill increased by 87% due to the rise in crude oil prices. ۔
The difference between the dollar and the open market is about Rs.
The local currency is weakening against the dollar, the central bank has fixed the taka and the exchange rate of the dollar at 86.7 taka but the banks are charging 95 taka from importers, due to which the prices of imported goods have gone up Has also increased.
The Bangladeshi government has banned the import of luxury goods and banned government officials from traveling abroad to deal with the dollar crisis, as well as temporarily suspending unnecessary projects.
