According to a survey, around 41 per cent of Bangladesh’s business community believes that the economic path to recovery is moderate, while around 16 per cent believes that the economic path to recovery is strong.
Titled, ‘Covid-19 and Business Confidence in Bangladesh’, SANEM (South Asian Network on Economic Modelling) in association with the Asia Foundation conducted the survey, the third-round report of which was presented virtually recently by the SANEM Executive Director Selim Raihan, even as 71 per cent of those interviewed also thought Bangladesh was on the correct path to economic recovery, the report underlined.
Presenting the report, Selim Raihan, reportedly, underlined that sectors were experiencing recovery at varying paces while textile along with pharmaceuticals and financial sectors were witnessing faster recovery.
The report further stated that improvement in doing business in the October-December period last year, compared to July-September, was minimal even as the SANEM Executive Director, during the presentation, maintained that compared with the status in the same quarter in 2019, the situation was still grave.
It shows that the firms have not returned to the pre-pandemic level, and recovery might take a while, reportedly, stated Selim while adding that some of the indicators (such as profitability, employment and wage indicators) have improved slightly compared to the past quarter while the business confidence for January-March 2021 shows some improvement over the October-December 2020 period.
