Economy
Int. Women’s day Today
International Women’s Day will be observed on Wednesday (8th March) across the country as elsewhere in the world with the theme ‘Digit ALL: Innovation and technology for gender equality’.
Different women, social and political organisations have taken separate programmes to observe International Women’s Day.
On the evening of the day, President Md Abdul Hamid and Prime Minister Sheikh Hasina on Tuesday issued separate messages, greeting all women across the world.
Marking the day, the Ministry of Women and Children Affairs will organise a procession at 2:30 pm on Wednesday.
The procession will start from the central Shaheed Minar and end on the Bangladesh Shishu Academy premises.
According to the ministry, the seminar scheduled for this year will be held later as Wednesday is a public holiday on the occasion of the holy Shab-e-Barat.
Processions, rallies and cultural programs will be held under the arrangement of the Jatiya Morcha Samajik Protirodh Committee at Central Shaheed Minar around 2.30 pm on March 9.
Health and Hope Hospital will arrange a discussion on ‘Breast and Cervical Cancer’ around 11:30 am in the city’s Panthapath area on Wednesday.
The National Press Club (NPC) will hold a special discussion at Jahur Hossain Chowdhury Hall on JPC premises at 3 pm on March 9.
The Dhaka Reporters Unity (DRU) has taken various programmes throughout the day.
The programmes include holding a procession at 10 am on Wednesday, unveiling of the annual Women’s Day compilation or souvenir ‘Konthoshor’ and organizing a discussion at 11 am.
The Association of Development Agencies in Bangladesh, Bangladesh Nari Sangbadik Kendro and Bangladesh Manobadhikar Sangbadik Forum will arrange a procession along with a discussion on the occasion of International Women’s Day.
The discussion titled ‘Projukti O Udvabonitey Somvabonar Bangladesh Gori, Nari-Purusher Somota, Samprity O Souhardo Bojay Rakhi’ will be held on JPC premises at 10 am on March 9.
Besides, the well-known theatre troupe ‘Swapnadal’ will stage a play named ‘Helen Keller’ at 7pm at Studio Theater Hall of Bangladesh Shilpakala Academy on Wednesday.
Swapnadal will also honour actor and theatre activist Jayita Mahalanobish with ‘International Women’s Day Sanmanana 2023’ for her contributions to theatre.
International Women’s Day (IWD) is celebrated on March 8 every year.
After the Socialist Party of America organised a Women’s Day on February 28, 1909 in New York, the 1910 International Socialist Women’s Conference suggested a Women’s Day to be held annually.
After women gained suffrage in Soviet Russia in 1917, March 8 became a national holiday there.
The day was then predominantly celebrated by the socialist movement and communist countries until it was adopted in 1975 by the United Nations.
The Bangladesh Bureau of Statistics (BBS) has projected that the country’s economy will grow at a rate of 5.82% in the current fiscal year (FY24), ending on June 30. This provisional estimate shows a slight increase from last fiscal year’s 5.78% growth. The figure aligns closely with forecasts by the International Monetary Fund (5.7%) and the World Bank (5.6%).
In terms of per capita income, there has been a modest rise to $2,784 in the current fiscal year from $2,749 in the previous year. This estimate is based on data from the first seven months of FY24.
Initially, the government had projected a growth rate of 7.5% for the current fiscal year in the budget, but this was later revised downward to 7%.
Bangladesh’s Gross Domestic Product (GDP) at current prices has increased to $459 billion, up from $452 billion in the previous fiscal year.
Sector-wise analysis shows mixed trends. The agriculture sector is estimated to grow by 3.21% this fiscal year, down from 3.37% last year, marking a 0.16% decrease. The industry sector is projected to grow by 6.66%, down from 8.37%, reflecting a 1.71% decrease. Conversely, the services sector is expected to grow by 5.80% this fiscal year, up from 5.37% in the previous year, indicating a 0.43% increase.
The investment-to-GDP ratio remains steady at 30.98%, according to BBS data. In the agriculture sector, the estimated growth for this fiscal year is 3.21%, down from 3.37% the previous year, marking a 0.16% decrease.
Additionally, the domestic savings and national savings rates stand at 27.61% and 31.86%, respectively, for the current fiscal year. Compared to the previous fiscal year, investment increased by 0.03%, domestic savings by 1.85%, and national savings by 1.91%.
Private sector investment growth is estimated at 23.5% this fiscal year, compared to 24.18% in the previous year.
The BBS also estimated the consumption rate at 74.24% in FY24, up from 72.39% in the previous fiscal year.
Bangladesh to Host Major Roadshow in the USA to Boost Dollar Deposits
Next Friday, on May 24, Bangladesh will host a significant roadshow in the USA, featuring 30 managing directors from various domestic banks. This event aims to attract dollar deposits in response to recent fluctuations in foreign exchange rates.
A total of 45 officials, including the managing directors of these 30 banks, will travel to the USA for a special promotional program designed to increase US dollar deposits in banks via offshore accounts. This marks the first time such a large gathering of Bangladeshi bank MDs will take place abroad.
Sources indicate that commercial banks are launching special campaigns to boost the flow of dollar deposits. The program will encourage expatriates to send dollars through official banking channels. To this end, a specific event focused on Offshore Banking Fixed Deposits has been organized for expatriates at a hotel in New York.
The Bangladesh Ambassador to the United States, Mohammad Imran, will serve as the chief guest at the event. Other special guests include Muhammad Abdul Muhith, Permanent Representative of Bangladesh to the United Nations in New York; Deputy Governor Kazi Sayedur Rahman; and Md Najmul Huda, Bangladesh Consulate General in New York.
This gathering highlights the increasing interest among Bangladeshi banks in diversifying their foreign currency reserves by exploring opportunities in offshore banking.
As part of this initiative, a promotional event has been organized to encourage Bangladeshis residing in the United States to deposit dollars through offshore banking.
During the eleventh month of the current fiscal year, the country’s foreign currency reserves have fallen below $19 billion for the first time. After paying off some import bills, the reserves have now stood at $18.26 billion on Sunday.
According to the International Monetary Fund (IMF), as of May 8, the total foreign currency reserves of the country were $19.82 billion.
Mohammad Mezbauul Haque, the spokesperson of Bangladesh Bank, informed that through the Asian Clearing Union (ACU), the central bank has paid off import bills totaling $1.63 billion over the past two months.
However, Bangladesh Bank maintains that after paying off the import bills, the foreign currency reserves now stand at $23.71 billion.
According to the Central Bank’s accounts, the reserves were $25.27 billion on May 8.
