Dhaka: Interim government’s Finance Adviser Dr. Salehuddin Ahmed today announced that Bangladesh’s economy has made a significant turnaround over the past year, moving away from the brink of instability to achieve a more stable footing. ‘It (economy) is more or less satisfactory,’ he stated at a press conference held at the Multipurpose Hall of the Finance Division at Bangladesh Secretariat. Dr. Ahmed highlighted the government’s achievements in various economic areas during this period.
According to Bangladesh Sangbad Sangstha, Dr. Ahmed noted that the interim administration, which took over in August last year, inherited an economy on the edge of a precipice. Despite this, the economy has stabilized over the past year, and Dr. Ahmed acknowledged that while there may be differing opinions, the progress has been evident. He emphasized that although the economy was at risk during the previous regime, it has not only avoided a downturn but has shown signs of recovery and improvement.
During the briefing, several key figures were present, including Chief Adviser’s special assistant Dr. Anisuzzaman Chowdhury, Finance Division secretary Dr. M Khairuzzaman Mozumder, revenue board chairman M Abdur Rahman Khan, Economic Relations Division secretary M Shahriar Kader Siddiky, and Financial Institutions Division secretary Nazma Mobarek. Dr. Ahmed outlined positive trends in broad areas such as the balance of payment, current account, and financial account, which had been negative in the past.
Dr. Ahmed expressed confidence in the economy’s positive trajectory, citing improvements in foreign currency reserves and exchange rates. He reported that the inflation rate, which had reached 14% during the Awami League regime, has now decreased to below 9%. However, he acknowledged that the interim government cannot solve all economic issues, as ‘We don’t have the magic wand.’
He also addressed the banking sector, stating that there is no other country with looting in the banking sector at the scale seen in Bangladesh during the past regime. He assured the public that measures are being taken to rebuild the banking sector, and no deposits will be lost. Revenue generation remains a challenge, but efforts are being made to increase revenues through enhanced efforts by the revenue board staff.
Dr. Ahmed highlighted progress in various economic fronts, including the financial, banking, tax revenue, non-tax revenue, capital market, and insurance sectors. He noted the positive performance of the external sector, particularly in inward remittance flow and export earnings, and described the Annual Development Programme (ADP) for the current fiscal year (FY26) as reasonable and pragmatic.
Acknowledging the limitations of the interim government’s tenure, Dr. Ahmed emphasized the goal of building a welfare-oriented state. He expressed hope that short-term reforms would be completed during this period, while mid-term and long-term reforms would be left for subsequent elected governments. He urged that the good work accomplished should not be discarded by future administrations.
Addressing concerns about GDP growth, Dr. Ahmed noted that unlike countries like Indonesia and Sri Lanka, Bangladesh has not experienced negative growth. He expressed optimism that the country’s GDP growth would exceed 5%. He criticized economists who fail to see the progress and emphasized that the country is moving in the right direction, even if progress could be faster.
Dr. Ahmed anticipated further improvement in the economy by February next year. He assured depositors of troubled banks that their money would not be lost and reported ongoing efforts to retrieve laundered money from abroad. The interim government is working to identify institutional weaknesses and enhance institutional manpower.
Responding to questions about the Bank Resolution Ordinance, 2025, Dr. Ahmed stated that he had not yet reviewed the draft. He called for collective support to further the country’s development and emphasized the potential of Bangladesh’s hardworking and intelligent population.
Dr. Anisuzzaman Chowdhury highlighted Bangladesh’s unique position as the only country where inflation has declined while GDP has not turned negative. Dr. Khairuzzaman Mozumder reported positive developments in the external sector, with the local currency Taka gaining strength. The NBR chairman emphasized raising awareness about the dangers of submitting false information in tax returns.