Finance Minister Amir Khosru Mahmud Chowdhury today denied allegations of data manipulation in the latest inflation figures, saying the decline in inflation in July was primarily driven by lower rice and meat prices.<\/p>\n
\u201cThis government will by no means distort information. Rather, we want to re-examine past statistical errors or misleading data presented to the public and work based on accurate facts,\u201d he said.<\/p>\n
\u201cHaving correct data is crucial for the government, as policy will be formulated based on those numbers,\u201d he added.<\/p>\n
The minister was responding to reporters’ questions about inflation data and why people do not believe it at the closing ceremony of a three-day conference on the Sustainable Development Goals (SDGs) at the Bangladesh-China Friendship Conference Centre in Dhaka.<\/p>\n
He said the government had verified the decline in rice and meat prices, as well as the format and methodology used to calculate the newly released inflation figures.<\/p>\n
Authorities are also examining other factors that contributed to the decline, he added.<\/p>\n
The Bangladesh Bureau of Statistics (BBS) on August 11 reported that inflation fell to 8.32 percent in July, its lowest level in eight months.<\/p>\n
At the same event, State Minister for Planning Zonayed Abdur Rahim Saki said the government would hold a detailed briefing for journalists on how inflation is calculated.<\/p>\n
\u201cThe entire process will be presented to you, along with the government\u2019s role in ensuring data reliability,\u201d Saki said.<\/p>\n
He also said the country faces an investment deficit of over $421 billion (Tk 50 lakh crore) to achieve its SDGs.<\/p>\n
The finance minister mentioned the creative economy, through which artisans producing local products such as pottery will be provided with design, branding and marketing support to help them access global platforms such as Amazon and Alibaba.<\/p>\n
Addressing the financing gap, he said traditional public financing alone would not be sufficient.<\/p>\n
\u201cThe global public finance architecture is evolving, which is why we are pursuing alternative financing. Foreign fund managers are entering the capital market, and various financial instruments, including bonds, have been introduced to help bridge the gap,\u201d he said.<\/p>\n
He added that the government was working to increase the country\u2019s debt-to-GDP ratio to secure the funding needed for development.<\/p>\n","protected":false},"excerpt":{"rendered":"Finance Minister Amir Khosru Mahmud Chowdhury today denied allegations of data manipulation in the latest inflation figures, saying…\n","protected":false},"author":2,"featured_media":582508,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[114,184,85,46],"class_list":["post-582507","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-il","tag-israel"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/582507","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=582507"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/582507\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/582508"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=582507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=582507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=582507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}