Long-term inflation is diabetes for country's economy: Muhammad Abdul Mazid
Other speakers at the event also emphasised controlling the long-term inflation in Bangladesh.
Long-term high inflation is like diabetes for the economy of Bangladesh, said former chairman of the National Board of Revenue (NBR) Dr Muhammad Abdul Mazid.
"The economy of Bangladesh is now suffering from diabetes. If it continues like this, there is a risk of hypo at some point," said Dr Muhammad Abdul Mazid during a seminar titled, "Budget for 2024-25: Key challenges and way forward" - organised by Research and Policy Integration for Development (RAPID) today (2 April) at the capital's National Press Club.
Other speakers at the event also emphasised controlling the long-term inflation in Bangladesh.
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MA Razzaque, chairman, RAPID said, "The impact of inflation is very severe. Two years of high inflation has tarnished much of our success."
"Its impact is the greatest on the poor," he said, pointing out that "if inflation is not controlled, this disparity will become more pronounced."
"In the next budget, everything must be done to control the price of goods," said Md Nasser Shahrear Zaheded.
Shawkat Hossain Masum, head of online section of Prothom Alo said, "Inflation has been above 9% for two years. Almost all countries have implemented policy interest rate strategies to reduce interest rates. But Bangladesh did not do that. We have also got the results of this."
Suggesting reforms to control inflation, he said, reforms cannot keep everyone happy. But it has to be done."
RAPID Executive Director Abu Eusuf presented the key note, state minister for planning Shahiduzzaman Sarkar was present at the program as chief guest.
