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Controlling inflation is what matters most

We hope to see more urgency and pro-activeness on the part of our policy-makers

GreenWatch Desk Opinion 2024-07-09, 11:16pm

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It has long been claimed by our authorities concerned that the goal for Bangladesh is to not simply become a prosperous nation, but an equitable one -- a nation where every Bangladeshi has an acceptable standard of living.

However, it is impossible to ignore the impact inflation is having on the majority of Bangladeshis, especially over the past two years. Given that inflation has soared to a 13-year high, it is time for our leaders to address the elephant in the room: Bangladesh has an inflation problem and addressing it must be the first priority.
While the authorities concerned have tried to play down the effects, the fact of the matter is that we have failed - and by a wide margin -- to keep inflation at the levels stated at the beginning of the FY for two years now. With inflation currently hovering around double digits, scepticism is only natural for claims that it can be reduced to 6.5% in the current FY.
Experts have long given their views on measures to address the inflation problem but it has been disappointing to see the lack of urgency on the part of the authorities concerned. It may yet not be too late however; moving forward, as policy measures begin to take effect, we hope to see more urgency and pro-activeness on the part of our policy-makers, and the humility to accept when measures have not yielded expected results, reports DT.
Chasing growth numbers -- which have also seen a dramatic reduction and have missed the targets -- mean very little when millions of Bangladeshis are struggling to put food on the table. Ensuring that no Bangladeshi citizen has to go through this struggle should remain the ultimate goal - and we are very far away from such a goal.