Economic Stability Possible Through Key Reforms Dr. Wahiduddin Mahmud
Planning Adviser Dr. Wahiduddin Mahmud said on Monday that the interim government is making significant progress through key reforms and stricter regulations, fostering optimism for economic stability and recovery.
Speaking at an iftar event organized by the Development Journalist Forum of Bangladesh (DJFB) at the NEC conference room, he emphasized the urgent need for structural reforms to restore economic stability. He noted that while progress has been made, much more needs to be done to address underlying economic weaknesses.
Dr. Wahiduddin Mahmud highlighted that governance failures, particularly in the banking sector, remain a major concern. He stressed the importance of immediate action to address these issues, as they pose a significant threat to economic recovery. To improve transparency and accountability, he mentioned that the government has begun publishing project details online, allowing for greater public oversight.
Discussing foreign investment, he acknowledged that it is a crucial driver of economic growth. However, he noted that investment levels have not yet reached expectations, even though the export sector has shown some signs of improvement. He emphasized that restoring investor confidence would depend on ensuring greater transparency in project management and implementing strong oversight measures.
Dr. Wahiduddin Mahmud also addressed concerns about foreign exchange reserves and remittance inflows. He acknowledged a slight increase in remittance flows but pointed out that a significant portion of expatriate earnings still moves through informal channels, which puts additional pressure on the country’s foreign currency reserves. He stressed the need for stronger measures to encourage remittances through formal banking systems to improve economic resilience.
Despite the existing economic challenges and governance issues, Dr. Wahiduddin Mahmud expressed hope that continued reforms, stricter regulatory measures, and a commitment to transparency would help stabilize the economy and rebuild public confidence in the government’s economic policies.
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