Surplus fund comes as economic relief

Source: BDNews 24

DHAKA:Bangladesh registered a current account balance surplus of over $2.8 billion in the first nine months (July-March) of the current fiscal (2012-13).

This is seen as a comfortable zone for the country with no need to borrow money for regular transactions.

In case of debts, a government has to borrow money (from banks, private sectors or abroad) and repay.

During the same period last year there was a debt of $120 million. The account includes regular export-import and other earnings and expenditures.

Bangladesh Institute of Development Studies (BIDS) Research Director Zaid Bakht put the surplus to be an outcome of a good inflow of remittance and reduced trade deficit.

“It is mainly due to the positive inflow of remittance. It seems, the flow will sustain for the remaining three months (of the current fiscal).”

The apex bank’s balance sheet shows a $4.86 billion deficit in trading of goods in the first nine months (of the current fiscal). During the same period last year, the deficit was $6.75 billion.

This year, the deficit is almost 28 percent lower.

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Categories: Asia, Bangladesh

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