In Bangladesh Inflation Snatches People’s Purchasing Power: Dr. Debapriya Bhattacharya

In Bangladesh Inflation Snatches People’s Purchasing Power: Dr. Debapriya Bhattacharya

In Bangladesh, the purchasing power of marginal, middle class and lower middle class has decreased due to the direct impact of double-digit inflation, said Dr. Debapriya Bhattacharya, a distinguished fellow of the Centre for Policy Dialogue (CPD).

Dr Bhattacharya made this statement on the occasion of unveiling a survey report titled “New Government, National Budget and Citizen’s Aspirations” held on Sunday in Dhaka.

Addressing the media on the occasion Dr Debpriya said “the inflation situation improved globally including the South Asian countries, while in Bangladesh the inflation situation is totally opposite, people are crying to manage their family expenditure as they have been experiencing a deteriorated inflation for two years”.

He also urged the Bangladesh government to prioritize the needs and aspirations of the masses in preparing the national budget for 2024-25 fiscal year, which is crucial for addressing Bangladesh’s socio-economic needs.

The survey was conducted in collaboration with the Citizen’s Platform for Sustainable Development Goals (SDGs), Bangladesh.

The experts attending the function also stressed the importance of structural reforms in Bangladesh to enhance accountability, transparency and efficiency in resource management across sectors. Moreover, measures such as import restrictions, monetary policy adjustments, and subsidy reductions in sectors like power and energy were also discussed.