Economy getting back to normal: Planning minister

Inflation is declining and the situation will improve further in December, Planning Minister MA Mannan said on Tuesday.    

“We expect that the inflation rate will decrease in November. Our forecasts came true twice in the recent past and it will come true again. It will be even better in December and January before getting stable in February,” he said.

The planning minister said this while addressing a press conference after a meeting of the Executive Committee of the National Economic Council (ECNEC) held at the NEC auditorium in Dhak’s Sher-e-Bangla Nagar.

Mannan also expressed his satisfaction over harvesting of aman paddy.

“Another satisfactory issue is the harvesting of aman paddy, which has already begun and we expect a bumper production this session. It is great news for cooling down inflation further,” said the planning minister.

He said there is nothing to be worried about as the country has enough food stock.

Quoting Agriculture Minister Abdur Razzak, who was present at the ECNEC meeting, Mannan informed that the country’s vegetable production has increased significantly this year.    

The country sees a good harvest of local fruits and mango and jackfruit are being exported after meeting the local demand, Mannan said.

Besides, the local production of chicken, egg, milk, meat, goat and other items have increased in the recent time, he said adding that these will help reduce the inflation rate, said the planning minister.

Apart from that, the central bank gave a message two days ago that the inflow of remittance took a positive turn, he said.

The planning minister said a number of steps have been taken to limit imports and it yields a good result.