Daily Times

The nation’s economy as a whole is currently in a challenging state, and the incoming administration will face numerous obstacles in the future.

First and foremost, the people’s trust must be rebuilt in order to return the nation’s entire economy to normal. The recent student movement has created a situation that has hindered both trade and production.

Leading economists and businessmen in the nation discussed the steps taken by the new government to normalize economic activity; all entrepreneurs must be guaranteed an uninterrupted work environment. The amount of dollars available in the market should also be expanded at the same time. The supply of gas and electricity should be guaranteed based on demand.

In addition, fresh investment opportunities ought to be generated. Economists and businesspeople claimed that the nation’s economy was expanding as a result of overcoming complex obstacles. The challenges have multiplied in light of the new administration. Right now, maintaining law and order is the largest challenge. It is also imperative to promptly restore normalcy to the malfunctioning supply system. Actually, the supply chain has been impacted by the circumstances brought about by the recent student movement. As a result, the product now costs more money. The supply system is currently gradually getting better as things begin to return to normal.

The production system is still not back to normal, even though product prices have already begun to decline. It is well known that Chittagong port’s import-export operations are hindered. It’s a jammed container. For security-related reasons, business owners are accepting fewer product deliveries. Import and export are negatively impacted by it.

The production system is still not back to normal, even though product prices have already begun to decline.

In actuality, the public has high hopes for the new administration. It will be extremely challenging to return the economy to normalcy quickly because of the ongoing crisis. It is hoped that things will get better soon if anomalies, corruption, money laundering, and hundi are curbed. The first step towards making the economy dynamic is to create a trusting environment. The nation is still clearly in a dollar crisis. The dollar is artificially kept at its current value.

The value of the dollar does not correspond to the central bank’s price. Import LC opening is impeded as a result. The recent movement has also been influenced by the economic crisis. As a result, action must be taken right away to put an end to these emergencies. The government must find ways to boost the economy and increase employment in order to meet the expectations of the nation’s citizens and attract more investment.

Those in question stated that action should be taken in the beginning to boost employment. Given the daily losses of enormous sums of money, including employee salaries, and the disruption of production in large and medium-sized factories, urgent macroeconomic policies must be determined. Now, tolerance is required from everyone for the good of the nation, the economy, and to ensure that no one in the nation experiences financial hardship.

Production was halted for four to five days during the start of the agitation, causing significant financial losses for the export-oriented garment industry, according to BGMEA. In fact, the nation’s large- and medium-sized business advocates believe that action needs to be taken to make up for this loss because the student movement has particularly hampered the development of export-oriented industries. The nation has experienced volatility in a number of indicators, such as remittances, foreign exchange reserves, and inflation, for more than a year.

At the time, the nation’s economy as a whole was experiencing a complex crisis. To resolve the economic crisis brought about by the complex instability that has persisted for the past few weeks, swift action is required. The inflation of food was made worse by the political crisis. In order to prevent a disruption in the food supply system, the necessary actions must be taken. The nation’s declining reserves are currently one of the causes of the economic crisis. The best course of action is to address it.

Given the daily losses of enormous sums of money, including employee salaries, and the disruption of production in large and medium-sized factories, urgent macroeconomic policies must be determined. Now, tolerance is required from everyone for the good of the nation, the economy, and to ensure that no one in the nation experiences financial hardship. Production was halted for four to five days during the start of the agitation, causing significant financial losses for the export-oriented garment industry, according to BGMEA.

In fact, the nation’s large – and medium-sized business advocates believe that action needs to be taken to make up for this loss because the student movement has particularly hampered the development of export-oriented industries. The nation has experienced volatility in a number of indicators, such as remittances, foreign exchange reserves, and inflation, for more than a year. At the time, the nation’s economy as a whole was experiencing a complex crisis.

To resolve the economic crisis brought about by the complex instability that has persisted for the past few weeks, swift action is required. The inflation of food was made worse by the political crisis. In order to prevent a disruption in the food supply system, the necessary actions must be taken. The nation’s declining reserves are currently one of the causes of the economic crisis. The best course of action is to address it.

In actuality, over the past few years, numerous crises have been noted in the nation’s macroeconomic system. The nation’s economy as a whole must advance in the upcoming fiscal year by overcoming the obstacles of inflation, the dollar crisis, investment, and revenue income. Even in the previous fiscal year, these sectors’ targets were not met.

The global economy is full of uncertainties right now. As a result, we must overcome a number of obstacles in order to accomplish the objectives in the various macroeconomic sectors in the recently established environment. To meet these challenges, we need an environment that is conducive to investment. The management crises that occur in business and industry are a topic of much discussion. It is also important to take action to stop those crises.

The writer is a Bangladesh-based independent columnist and freelance journalist.