Effective strategies needed to boost investment: BB Governor

Bangla Press Desk:  Bangladesh Bank Governor Dr Ahsan H Mansur has said the new government must adopt effective and realistic strategies to increase both domestic and foreign investment to ensure long-term economic growth and sustainable employment.

Speaking to journalists at the Secretariat yesterday, the central bank governor expressed optimism about the country’s overall economic outlook.He said the country’s foreign exchange reserves are expected to reach 40 billion US dollars within this year.

He also noted that reserves are likely to exceed 35 billion US dollars within the current month, which would provide a stronger foundation for the economy moving forward.

Dr Mansur acknowledged that significant irregularities had occurred in the banking and financial sectors in the past, and it would take time to fully correct them. 

However, he expressed confidence in the reform initiatives undertaken by the previous interim government, adding that although economic vulnerabilities have not yet been completely eliminated, the situation is gradually stabilizing.

He further expressed hope that the elected government will continue implementing these important reform measures in the future.

Regarding macroeconomic indicators, the governor said the target of bringing inflation down to 7 percent has not yet been achieved. Nevertheless, he reaffirmed the central bank’s strong commitment to controlling inflation through consistent policy support.

He added that necessary steps are being taken to maintain overall economic stability. At the same time, he mentioned that the central bank has suspended the sale of US dollars from its foreign exchange reserves to commercial banks.

Source: daily Sun

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