Business Initiative Leading Development (BUILD) conducted a study on COVID Stimulus and Links to Employment, Consumption, and Investment: The Bangladesh Experience, Global Lessons, and Priorities for Next Round Support that aims to assess the effect on Bangladesh economy in the immediate aftermath of COVID-19 understand the stimulus and its key features, understanding the economic recovery post-covid stimulus, focusing on consumer demand, employment and private investments, comparative analysis of measures taken in select countries, derive key-takeaways and key recommendations for a quick and inclusive turnaround of the economy.
BUILD conducted a rapid survey (Feb 2021), which was a part of the study, and found that the sales of SME firms have been negatively impacted due to the pandemic. In addition, several firms reported a depressed demand compared to the pre-COVID scenario, indicating that consumption and demand have not recovered fully.
These major findings were revealed at the webinar titled COVID Stimulus and Links to Employment, Consumption, and Investment: The Bangladesh Experience, Global Lessons, and Priorities for Next Round Support on Thursday, 24 June 2021. The event was organized virtually by BUILD as part of supporting the government for redesigning a second-round stimulus package for inclusive economic recovery.
Having joined the webinar as the Chief Guest, M. A. Mannan, Minister for Planning, said that the country’s economy has been growing gradually because of millions of small investment drops. Referring to the recent UNCTAD report of 2021, he said the government is always welcoming greenfield FDI in Bangladesh considering the quality of investment. Responding to the points raised by the discussants, he said the National Budget for FY 2021-22 has focused on the continued economic recovery amid the pandemic. The government will consider the demand of the bottom line of the society if a second stimulus package is formulated where importance will be given to activate more SME supportive organization. Best practices from different developed countries should be considered to make the overall economic ecosystem of Bangladesh vibrant. He also appreciated the role of the central bank’s role in disbursing the stimulus package of the CMSME.
During the welcome note, Abul Kasem Khan, Chairperson, BUILD, said that the initiative and leadership of our Honorable Prime Minister to combat the COVID-19 gave confidence to the economy. However, unemployment, demand generation, and savings need to be addressed to make the initiative more fruitful.
Enclosed are the press releases (in English and Bangla) for your kind consideration. Please feel free to contact us for any queries.