The government should increase its engagement with the country’s private sector in making policies and decisions amid ongoing reforms, according to prominent business leaders, who cited major challenges such as high inflation, rising interest rates and slowing demand and investment that are now plaguing private businesses.

Speaking about the future of the economy, he said there is a possibility of Bangladesh transforming into a dynamic developed country on the back of its population’s entrepreneurial spirit.

While the government has pursued a number of poor economic policies, the fact remains that they have largely been driven due to political considerations.

The government must implement economic policies that deal with the ongoing crisis

Bangladesh is struggling to find fiscal resources to deal with the current economic challenges mainly due to a weak fiscal situation, said Debapriya Bhattacharya, a distinguished fellow of the Centre for Policy Dialogue (CPD).