DHAKA, May 14, 2024 (BSS) - The Metropolitan Chamber of Commerce and

Industry, Dhaka (MCCI) hosted a discussion titled "Stabilizing the
Macroeconomy of Bangladesh: Issues and Challenges" at its Gulshan office
today.

MCCI President Kamran T. Rahman delivered the welcome remarks while Dr. Sadiq
Ahmed, vice chairman of Policy Research Institute, gave the keynote
presentation and led an open discussion.

The event was moderated by Farooq Ahmed, secretary-general and CEO of the
MCCI.

During his welcome remarks, MCCI President Kamran T. Rahman stressed that
stakeholders and policymakers must have a comprehensive understanding of how
multiple factors collectively shape economic dynamics, said a press release
here.
 
He believed this knowledge helped create strategies for economic stability
and growth. "Discussions such as this event could help private sector
representatives enhance their knowledge and realign their strategies," he
opined.

In his keynote presentation, Dr. Sadiq Ahmed identified Bangladesh's four
major macroeconomic concerns: import surge leading to reserve losses, the
depreciation of the Taka, persistent inflation, and low domestic revenue
growth because of external shocks.
 
He stated these factors were impeding the growth of Bangladesh's GDP and its
overall progress and development. As Bangladesh had one of the lowest tax to
GDP ratios in the world, Dr. Sadiq advocated for a focused, medium-term tax
reform programme.
 
Later, he also discussed and elaborated on effective ways to tackle the
inflationary, balance of payments, and budgetary challenges that the country
was facing.
 
Other issues that came up during the open discussion include the challenges
of non-performing and distressed loans, tax leakages, fiscal, banking, and
trade reforms, and the need for a transparent and easily understandable tax
policy.
 
The event ended with a vote of thanks from the MCCI. Representatives from
MCCI member firms and the media attended the event.