Houthi Military Media/Handout via REUTERSThe ongoing Israel-Hamas war in Palestine may affect Bangladesh’s economy if the crisis in the Middle-East deepens and prolongs further, Sheikh Hasina has warned. Inflation is likely to increase slightly because of the instability in the world market, inconsistencies in market management and the increase in global fuel prices, she said. To mitigate the impact of fuel oil price rise on shipping cost for imports, Bangladesh will strengthen ties with alternative sources like China, Morocco, Tunisia, Canada, Russia and other countries, Hasina said. In response to a supplementary question, Hasina said the Trading Corporation of Bangladesh has sufficient manpower to continue its work on controlling commodity prices. Inflationary pressure caused by imports increased because of a rise in the prices of fuel oil, cooking oil, wheat, fertilisers and raw materials, Hasina said.

Source: bd News24 May 08, 2024 21:02 UTC