Two-thirds of private and public sector chief economists surveyed by the World Economic Forum (WEF) expect a global recession in 2023, the Davos-organiser said on Monday as business and government leaders gathered for its annual meeting.

The core problems of our economy are rooted in the very nature of the country’s governance, which has long been neglected. 

Dread and anxiety over the possibility of a global recession are rising around the world right now.

Countries in Southeast Asia had until recently taken for granted a stable relationship between China and the US to preserve their own prosperity.

Global demand has consistently weakened this year, for multiple reasons, and the risk of recession is rising. If advanced economies were to fall into recession, developing countries in Asia would not be immune to the fallout. Policymakers in the region will need to monitor and carefully navigate a challenging economic environment to keep inflation in check and sustain growth.

Both global and local macro-challenges can have serious implications for the people of Bangladesh

Prime Minister Sheikh Hasina has asked the authorities concerned not to go for mega projects and instead take up small ones focusing on rural development and public welfare.

Specific policy incentives are needed to stimulate the economy and revive the labour market.

Apparel exporters in Bangladesh are feeling the pinch of a looming global recession, persisting higher inflation and dragging severe fallout of the Russia-Ukraine war as orders from international buyers have fallen. 

As the global economy is threatened by recession, RMG makers will have to come up with strategies to deal.

Foreign Minister AK Abdul Momen today said his comments were "twisted" as he meant that people of Bangladesh are in a far better situation compared to other countries amid global recession.

Congratulations to you, my dear countrymen, welcome to heaven. But wait, heaven is…dark? One might be forgiven for thinking that here in Bangladesh at the moment, as cyclical power cuts literally leave millions in the dark for hours, and fuel prices make others see stars. It might become cheaper to buy a vehicle than the actual costs of buying a week’s fuel for it on a consistent basis. So, get walking, go green, when better than now?

"The people of Bangladesh are in heaven compared to other countries amid the global recession," said Foreign Minister Dr AK Abdul Momen today (August 12, 2022).