On June 1, 2023, Hasina government has unveiled the national budget titled “Towards a Smart Bangladesh after the march of development” for the fiscal year 2023-24. Finance Minister AHM Mustafa Kamal placed Taka 7.6 trillion budget which is 13.5 percent bigger than FY 23 with a ‘supposed’ focus on tackling inflation, generating jobs, and efforts […]
Nureddin Nebati, Minister of Treasury and Finance, who made an opening speech at the “Economic Transformation and New Paradigms Summit” hosted by the Ministry of Treasury and Finance, presented statements regarding the economy. Minister Nebati interpreted the economy by using eccentrical loanwords and used these statements: “The heterodox approach, which represents an epistemological break from […]
In the midst of a failing economy, double digit inflation, escalating mortgage rates, higher energy bills, a tax U-turn, rising debt, a pension fund liquidity crisis, a war in Ukraine, a depreciating currency, increased immigration and sinking polling numbers, the new Prime Minister of the United Kingdom (and perhaps half of her cabinet) found time […]
Today (26th September 2022), the value of Malaysian Ringgit (RM) slumped to the lowest level ever recorded since the 1997 financial crisis where the exchange rate of 1 USD is now equivalent to RM4.60. The depreciation RM occurred as many investors turned to safer currencies due to the uncertain global economic outlook. Economists blamed the […]
BP has reported its biggest quarterly profit for 14 years after oil and gas prices soared. The energy giant saw underlying profits hit $8.45bn (£6.9bn) between April and June – more than triple the amount it made in the same period last year.
The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) has raised interest rates by 1.5 % to 15 %. According to the SBP’s own press conference, the increase is to slow the economy down, whilst claiming that such demand contraction is a must, otherwise high growth is unstable, worsening inflation. Even after […]
Imran Khan lamented that the whole world, including Pakistan, is facing a storm of inflation. This is due to the exploitative system of the international economic order. However, his desperate pre-election appeal was devoid of alternatives to capitalism, blaming previous governments for catastrophic economic management. As for the economic relief he announced, it will increase […]
