Bangladesh economy rebounding from raging corona shocks.

Bangladesh's economy begins to rebound from the pandemic corona shocks for prudent steps of keeping economic activity rolling and recovery stimulus, the finance minister told parliament Wednesday, also reassuring of the country's LDC farewell shortly.

Minister AHM Mustafa Kamal portrayed an optimistic picture of the country's situation while presenting an account of the state of economy before the lawmakers while Banglsdesh as well as the world is passing through worst ordeals in a century posed by a pandemic since the 1918 Spanish flu.

'In the first half (July-December) of the current fiscal year (FY21), the major macroeconomic indicators like inward remittance, foreign- currency reserves, money supply and inflation were in a very satisfactory position.

The Taka-Dollar exchange rate has long remained stable while the current account and balance-of- payments account are also in positive territory,' he said.

The finance minister presented a report focusing budget-implementation progress, trend of income, expenditure and economic analysis of the first half (July-December) period of the current fiscal.

Highlighting some of the major macroeconomic achievements of the government in the first half, Kamal said that the NBR attained a revenue- collection growth of 4.11 percent, the overall public expenditure got reduced by 7.57 percent, the rate of ADP implementation reached 8.2 percent out of its overall allocation.

Besides, he said, the inward remittance flow witnessed a growth of 48.54 percent thanks to the incentives on remittance at 2.0 percent rate alongside simplifying the remittance- sending process.

'I express my optimism that such upward trend in inward remittance will continue in the future too,' Apart from this, the Finance Minister highlighted that the export earnings witnessed a growth of 2.54 percent while the foreign-exchange reserves reached a record height of $43 billion, which was $39.31 billion on September 30, 2020.

The annual average inflation rate reached 5.69 percent in September 2020.

Kamal said the GDP rate of Bangladesh has increased gradually over the last one decade until fiscal year 2018-2019 when the GDP growth rate reached a record 8.15 percent-- also the highest in Asia.

But, following the COVID-19 pandemic, the high- growth trend a bit slowed, but still it posted the highest growth in Asia at 5.24 percent whereas the major Asian economies witnessed negative growth, excepting China and Vietnam.

He said the...