Publication during July, 2017
An article titled “MPS for H1 of FY 18: Expectations” was published in The Financial Express dated 17 July, 2017. The article analyzed the challenges presently prevailing in the financial sector as well as the real economy that should be addressed in upcoming Monetary Policy Statement (MPS). The challenges include persistence of high spread between interest rate on deposits and on advances, high excess liquidity in banking system, real interest on deposits turning negative, rising volume of classified loan, slow growth of credit to the private sector, large scale capital flight, dramatic slowdown of export growth and devastating fall of remittances.
A four page interview article was published on 16 July, 2017 in Arthojagat, a fortnightly financial magazine. The article dealt with challenges to implementation of FY 18 budget, credibility of government’s estimate of 7.24% of GDP growth for FY 17, desirability of allocation from the budget to meet capital shortage of state owned banks, problem of rising nonperforming loan in the banking system, creation of business friendly environment etc.
Other Activities during July, 2017
03 July: Dr. Mirza Azizul Islam along with Mr. G.M. Quader, former Minister of Commerce participated in a talk-show broadcast by TV Channel News 24. The discussions dealt with the issues connected with the realization of various targets envisaged in FY 18 budget relating to GDP growth, inflation, collection of revenues, mobilization of external assistance and implementation of Annual Development Program.
09 July: Dr. Mirza Azizul Islam participated in an Expert Group Consultation convened by Bangladesh Bank regarding the upcoming Monetary Policy Statement for the first half of FY 18. The participants included former Governors of Bangladesh Bank and a number of eminent economists and bankers. The discussions dealt with what should be the focus of attention in the monetary policy statement in view of the prevailing situation in both financial and real sectors of the economy.
I6 July: Dr. Mirza Azizul Islam was the only discussant in a TV program broadcast by Ekushey TV. The discussion focused on the implications of postponement of the new VAT law in the budget for FY 18, implementation challenges for the budget and constraints to private investment. Suggestions were offered regarding measures needed to deal with the relevant challenges.
I8 July: Dr. Mirza Azizul Islam participated in a TV program broadcast by Channel DBC. The other participant was Mr. Jamal Uddin, Member Board of Directors of Bangladesh Bank and Secretary General of Bangladesh Economic Association. The discussion dealt with the justification or otherwise of the Finance Minister’s statement that the Government is considering the change of fiscal year from July-June.
19 July: Dr. Mirza Azizul Islam participated in a TV program broadcast by News 24 channel as the only discussant. The discussions covered a wide range of economic issues such as likely GDP growth, constraints to private sector investment, drastic slowdown of export growth, major decline in remittances, implementation of FY 18 budget and the latest Monetary Policy Statement i.e. for the first half of FY 18 etc.