Bangladesh faces daunting post-election challenges in economy, garment sector
A key concern for Dhaka is the upgrade to developing nation status, with the key garment sector set to face stiffer competition
The biggest challenges that the Bangladesh Nationalist Party (BNP) has to tackle following its recent victory in the general election are the country’s sluggish economy, high inflation and unemployment.
Speaking at a webinar, panellists said voters would judge the new government on its ability to create jobs, tame inflation and steady relations with key partners, even as they commended the peaceful election.
The new government would also have to take steps to bolster financial stability, said Sobhan, who was speaking at the seminar organised by the Asia Society Policy Institute on Thursday titled “Bangladesh After the Vote: Democracy, Reform and Foreign Policy Outlook”. He added that Dhaka should focus on stabilising the Bangladeshi currency and lowering the level of non-performing loans.
For the financial year ended June 2025, Bangladesh’s economy grew 3.7 per cent, slowing from 4.2 per cent a year earlier and 5.8 per cent in the 2023 financial year, the International Monetary Fund said in a media release last month. In the current and following financial years, the country’s economic growth is expected to rebound to 4.7 per cent, according to the IMF.