Controlling Inflation is a Major Challenge: Prime Minister

Prime Minister and Awami League President Sheikh Hasina remarked that controlling inflation is a significant challenge for the government. She made this statement during her opening speech at the Awami League Advisory Council meeting at Ganabhaban on Friday night, June 7.

She emphasized, "Our major challenge is how we will control inflation. We must manage this. This year's budget has given special attention to essential goods, healthcare, and education sectors to prevent inflationary pressure in these areas."

Discussing the global context, the Prime Minister highlighted the economic turmoil caused by the Russia-Ukraine war, sanctions and counter-sanctions, the genocide in Gaza, and the COVID-19 pandemic, which have led to global economic downturns and high inflation. Bangladesh has not been immune to these global challenges. Despite this, Bangladesh has presented its budget.

Sheikh Hasina claimed that Bangladesh has managed to sustain its growth and progress as a developing nation. She recalled that when her party took power in 2009, the inflation rate was 12.3 percent, and the foreign reserves were less than one billion US dollars. The government has overcome these challenges and elevated the country's economy to a significant position. At that time, the budget was only 680 billion taka, whereas the current Awami League government has proposed a budget of 7.97 trillion taka.

Highlighting the government's social safety net initiatives, the Prime Minister mentioned that the government provides family cards for people with limited income and food assistance for the extremely poor. She also noted the various allowances given to the impoverished and underprivileged under the government's social safety net programs.

Sheikh Hasina stated that earning the trust and confidence of the people is the greatest asset for the Awami League, enabling the party to overcome conspiracies and power struggles both domestically and internationally.

Criticizing the BNP, she said that the BNP avoids elections out of fear of defeat because they lack capable leadership. She pointed out that their top leaders are accused of money laundering, corruption, involvement in the August 21, 2004 grenade attack, and the 10-truck arms smuggling case.