Govt inherited a fragile economy: Titumir

Prime Minister's Adviser on Finance and Planning Dr Rashed Al Mahmud Titumir on Wednesday said that the government inherited a fragile economy, and Bangladesh is currently going through a critical period of economic transition.

"As a result, low- and middle-income people are facing considerable pressure," he said at an exchange of views with journalists at the Rajbari Poura Milonayatan this afternoon.

The adviser said the investment situation, particularly the decline in private-sector investment, had worsened the employment crisis.

The crisis in the Middle East and rising energy prices had also created fresh pressure on the country's economy.

Against this backdrop, various organisations have presented different projections regarding Bangladesh's gross domestic product (GDP) growth, he said.

Referring to the International Monetary Fund's (IMF) GDP growth projections, Titumir said a fundamental issue had been overlooked in some discussions circulating on social media.

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Without the necessary reforms, economic growth would decline further, he added.

Highlighting the government's reform initiatives, the adviser said restoring discipline in the banking sector and increasing revenue collection were urgent priorities.

The government had undertaken several social protection programmes to prevent people from falling below the poverty line amid mounting inflationary pressure, he added.

Rajbari Deputy Commissioner Abdus Salam, District Information Officer Rekha Islam and journalists from print and electronic media outlets in the district attended the meeting.