State of the Bangladesh Economy in FY 2005-06 and Outlook for FY 2006-07

The IRBD programme has now been running for twelve years. IRBD 2006 is the thirteenth volume prepared in a row under this programme. The series has emerged as an imprint of CPD's undaunted engagement and resolve to establish an accountable development process in the country where stakeholders are ably involved in articulating national policies and their implementation. The current macroeconomic component of the IRBD 2006 analyses the behaviour of FY2006 and makes some projections about the economic outlook for FY2007. Chapter I of the current volume presents an assessment of the state of the Bangladesh economy in FY2006 by concentrating on five major areas which include: growth-savings-investment, public finance and financial sector, monetary sector, real economy and external balance. The paper also raises a number of conceptual issues concerning appropriate standards to assess the performance of FY2006 in view of operationalisation of the PRS by the Government of Bangladesh beginning from FY2006. Chapter II provides an analysis of the National Budget for FY2007 which was placed in the parliament on June 8, 2006. The chapter examines the proposed budgetary targets in the backdrop of Bangladesh's current economic performance. Chapter III titled Economic Programme: CPD's Recommendations for the Caretaker Government provides a set of recommendations for the Non-Party Caretaker Government as it embarked in October 2006, upon the difficult task of managing the economy during the interregnum between two elected governments. Fourth contribution of the volume constitutes a chronology of major macroeconomic events of FY2006 and those of the first half of FY2007. The chronology, reported in Annex I, captures important events and policy decisions which influenced the Bangladesh economy during this period.

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