Dhaka, May 13 (V7N) – Bangladesh Information Minister Zahir Uddin Swapan has said the country will need at least two years to recover and become self-reliant from what he described as a fragile and damaged economy.
He made the remarks on Wednesday morning while addressing the award ceremony of the month-long Islamic competition “Alokit Mahe Ramadan” held in Uttara in the capital.
The minister alleged that large-scale looting during the tenure of the previous government had left the country’s economy in a weakened condition, forcing ordinary people to bear the burden of the financial crisis.
“Due to the looting by the past government, the people now have to carry the responsibility of this damaged economy,” he said. “It will take at least two years for the current government to rebuild the country and restore self-reliance.”
Swapan also stressed the importance of maintaining social stability, warning that economic recovery would not be possible without a peaceful environment.
“If we fail to maintain a peaceful social atmosphere over the next two years, it will not be possible to repair the broken economy,” he added.
The information minister further stated that the current government inherited a debt burden of nearly 30 lakh crore taka and must repay around $5 billion in foreign loans annually.
According to him, Bangladesh currently earns approximately $40 billion each year through exports, while remittance inflows remain between $20 billion and $22 billion.
He noted that the country remains heavily dependent on imports, requiring between $60 billion and $70 billion worth of goods annually, resulting in a continuing trade deficit and budget deficit.
END/SMA/AJ
