LightCastle Economic Update- Feb 2017

Bangladesh economy has been experiencing stable growth, fueled by apparel driven export growth, expanding domestic market and stabilizing political conditions. However, looming uncertainties remain with the upcoming national elections scheduled early 2019, and stalled remittance growth from Middle-Eastern economies. Despite achieving commendable economic stability and progress, the economic growth needs to accelerate further through incremental investments in both private sector and infrastructure investments, less burdensome bureaucratic red tape and investment friendly government policies.

In the international domain, election of populist Donald Trump will not only have impending ramifications on Bangladesh’s dream in achieving GSP for apparel, but will stifle worldwide WTO led international trade arrangements. Bangladesh’s export to EU may also suffer a setback, with the country’s second biggest EU importer, Britain, moving out of the fold of European Union. With upcoming elections in Netherlands and France placing protectionist center-right politicians at the forefront, the concept of European Union maybe under jeopardy. Bangladesh may increasingly find it difficult to defend its GSP status in the upcoming years.

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