Global Financial Crisis and The Affact Of Macroeconomic In Bangladesh

Abstract

The report discusses how the 2023-2024 global crises affected Bangladesh's economy. It found that Bangladesh experienced only a mild economic slowdown, with some critical sectors, like exports and remittances, seeing modest declines. However, these impacts were balanced by gains in other areas, such as agriculture and the stock market, which helped the country demonstrate resilience during the crisis. Compared to developed countries like the U.S. and EU nations, and other emerging economies like India and China, Bangladesh was less affected. The paper attributes this resilience to several factors. Bangladesh was less exposed to foreign toxic assets, saw growth in agriculture, and maintained strength in its garment export and worker remittance sectors. To take advantage of the eventual global recovery, a SWOT analysis suggests that Bangladesh could benefit by building on its strengths, addressing weaknesses, and preparing for possible threats. Recommended policy actions include sector reforms, infrastructure development, diversifying exports, exploring new markets, and strengthening ties with foreign businesses and the Bangladeshi diaspora.