Averting an monetary crisis
Collected
The Covid-19 is wreaking havoc on the planet; daily deaths have now surpassed over 1,000 globally, with total deaths around 12,000. That is an unprecedented time in our lives, and everyone must get together to fight this deadly virus.
However, beyond the amount of deaths and persons infected with the coronavirus, the global economy is also going for a serious hit.
Bangladesh is no different; it really is already experiencing significant shocks to its supply side plus a drop in demand, which were felt in the domestic market as well as in the export sector.
The forecasts look grim; according to a written report of the United Nations Conference on Trade and Development (UNCTAD), a 2% decrease in the Chinese way to obtain intermediate inputs as a result of coronavirus would cause a lack of $17 million in Bangladesh’s exports.
Therefore, it really is imperative that, while doing our better to curtail the adverse health consequences of the coronavirus and stop it from spreading, it is also vital to keep one eye on the monetary fallout that the coronavirus also brings with it.
To that end, the necessity of the hour is for the federal government and relevant policy-makers to come together and implement targeted fiscal policy measures.
Experts noted that assessing the Bangladesh economy -- both its formal and informal sectors -- will never be an easy task. However, with regard to the country’s long-term functioning, it really is vital that is carried out to recognize the most vulnerable groups, along with the support they want and the method to provide this support to them.
Times like these are when the government should do its part to keep carefully the economy afloat, providing resources and incentives and making certain the persons of Bangladesh do not have to suffer even more.
There is no other alternative to keep our economy healthy and functional during such an emergency.
Source: https://www.dhakatribune.com
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