Bangladesh Bank: Fortnightly Trends of Major Economic Indicators: Updates on February 15, 2018

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1. Monetary Policy Department Fortnightly Trends of Major Economic Indicators : Updates on February 15, 2018 As per the latest available information, broad money increased by Tk. 39933.20 crore or 3.93 percent and stood at Tk. 1056009.20 crore in December 2017 over end June 2017 against the increase of Tk.37675.90 crore or 4.11 percent in the same period of the previous fiscal year. Broad money growth slightly slowed down due mainly to a subdued growth in net foreign assets (NFA) during the period under review. Reserve money stood at Tk. 215443.60 crore as on February 15, 2018 which was Tk. 209653.10 crore as on January 31, 2018. Reserve money decreased by 3.82 percent as on February 15, 2018 over end June 2017 as compared to the decrease of 0.26 percent during the same period of the previous fiscal year. Domestic credit increased by 6.95 percent and stood at TK. 952534.80 crore in December 2017 over end June 2017 against the increase of 3.84 percent to Tk. 832038.00 crore during the same period of the previous fiscal year. Domestic credit growth increased during the reported period due to a significant credit growth in the private sector. Credit to private sector recorded 9.14 percent growth during July-December 2017 as against 6.86 percent growth in the same period of the previous fiscal year. On the other hand, credit to public sector decreased by 7.94 percent during July-December 2017 which also decreased by 11.71 percent during the same period of the previous fiscal year. Government borrowing from the banking system including BB increased by Tk. 450.42 crore during February 01-15, 2018 as compared to the increase of Tk. 48.37 crore in the same period of the previous year. However, as per the latest data, government borrowing from the banking system during July 01-February 15, 2017-18 decreased by Tk. 12702.99 crore which also decreased by Tk. 18613.52 crore during the same period of the previous fiscal year. NBR tax revenue collection increased by 16.51 percent (y-o-y) to Tk. 93440.21 crore during JulyDecember 2017 as compared to the increase of 17.78 percent to Tk. 80197.37 crore during the same period of the previous fiscal year. Inward Remittances increased by 15.83 percent and stood at US$ 8312.15 million during JulyJanuary 2017-18 against the decrease of 16.92 percent to US$ 7176.32 million during the same period of the previous year. Exports increased by 6.55 percent and stood at US$ 21324.87 million during July-January 2017-18 against the increase of 3.86 percent to US$ 20013.28 million during the same period of the previous year. Current account balance recorded a deficit of US$ 4767.00 million during July-December 2017 as compared to the deficit of US$ 543 million during July-December 2016. Larger deficit in current account balance emerged from increase in deficits both in trade and service accounts due mainly to a significant growth of imports than exports during the period under report. Foreign exchange reserves of BB increased by US$ 0.46 billion and stood at US$ 33.15 billion as on February 15, 2018 against US$ 32.69 billion as on January 31, 2018 which was supported by surplus in the financial account balance.
2. Inflation on twelve-month average basis (Base: FY2005-06=100) increased to 5.70 percent in December 2017 from 5.64 percent in November 2017 due to increase in food inflation. On the other hand, point to point general inflation decreased to 5.83 percent in December 2017 from 5.91 percent in November 2017 due to decrease in non-food inflation. Detailed fortnightly information upto February 15, 2018 are given at annex-1.
3. Monetary Policy Department Bangladesh Bank , Head Office, Dhaka. Detailed Information on Trends of Major Economic Indicators upto February 15, 2018 Annex-1(continued) I. Money and Credit Particulars 1. Broad money (M2) 2. Reserve money @ 3. Bank credit # 4. Bank deposits ## 5. Domestic credit (A+B) A. Public sector (including govt.) (a+b) i. Net credit to govt. sector ii. Credit to other public sector B. Credit to private sector (Taka in crore) R December, 2016 November, 2017 954053.80 1040365.20 1056009.20 (+4.11) (+2.39) (+3.93) December, 2017 P 209653.10 ** 215443.60 * (-0.26) (-6.40) (-3.82) 712891.50 818040.90 838307.40 (+6.92) (+8.30) (+10.99) 840900.40 913482.00 926877.90 (+5.87) (+3.98) (+5.50) 832038.00 937688.30 192097.10 *** 952534.80 (+3.84) (+5.28) (+6.95) 115018.50 110744.70 105512.90 (-11.71) (-3.38) (-7.94) 98638.80 92603.10 87266.40 (-13.64) (-4.86) (-10.34) 16379.70 18141.60 18246.50 (+2.05) (+4.98) (+5.59) 717019.50 826943.60 847021.90 (+6.86) (+6.56) (+9.14) Note: Figures in the parenthesis indicate percentage changes over corresponding end June. P= Provisional, @=excluding F.C. clearing account *Figure is as of 15th February 2018, **Figure is as of 31st January 2018, ***Figure is as of 15th February 2017 . # Advances, import and inland bills. ## Demand and time deposits (excluding inter-bank)
4. Annex-1 (continued) II. Government Financing (Taka in crore) As on Particulars Flow for the period of February 15 ,2017 February 15 ,2018 Feb 01-15, 2016-17 Feb 01-15, 2017-18 July 01-Feb 15, 2016-17 July 01-Feb 15, 2017-18 1. A. Net outstanding position of govt. borrowing from Bangladesh Bank 7992.52 11490.14 1548.73 2070.91 -13881.82 -4238.67 B. Net outstanding position of govt. borrowing from banking sector(including BB) 90034.98 77013.51 48.37 450.42 -18613.52 -12702.99 December, 2016 December, 2017P December, 2016 December, 2017 July-December, 2016-17 July-December, 2017-18p 187198.54 241443.06 (+)2930.98 (+)3010.70 (+)24302.05 (+)24861.27 December, 2016 December, 2017P July-December, 2016-2017 July-December 2017- 18p 16334.71 (+23.52) 18108.76 (+10.86) 80197.37 (+17.78) 93440.21 (+16.51) As of end 2. Net outstanding position of non-bank borrowing of the govt.* 3. Govt.revenue collection (NBR portion) Flow for the month of Note: Figures in the parenthesis indicate percentage changes over the same period of the previous year P= Provisional * Excludes saving certificates held by the banks and includes T.bills & T.bonds held by non-bank financial institutions. Flow for the period of
5. Annex-1 (concluded) III. External Sector Particulars 1.Custom based import (c&f) 2. Opening of Import L/C 3. Settlement of Import L/C ` 4. Inward Remittances 5. Exports (In million US$) December, 2017-18P July-December, 2016- 17 July-December, 2017-18P 3994.10 4692.10 22609.80 28440.90 (+2.46) 4329.31 (+20.75) 3565.48 (-3.68) (+17.48) 4483.35 (+3.56) 4068.43 (+14.11) (+8.24) 23022.85 (+9.30) 22588.82 (+11.25) (+25.79) 40234.43 (+74.76) 24660.53 (+9.17) January, 2017 January, 2018P July-January, 2016- 17 July-January, 2017-18P 1009.47 (-12.27) 3292.23 (+3.35) 1379.79 (+36.68) 3408.85 (+3.54) 7176.32 (-16.92) 20013.28 (+3.86) 8312.15 (+15.83) 21324.87 (+6.55) December, 2016- 17 July-December, 2017-18P July-December, 2016-17 -543.00 6. Current Account Balance -4767.00 February 15, 2017 January 31, 2018 February 15, 2018 32059.59 (+6.27) 32694.69 (-2.38) 33152.81 December, 2016 November, 2017 December, 2017P a. Twelve month average basis 5.51 5.64 5.70 b. Twelve month point to point basis 5.03 5.91 5.83 7. Foreign Exchange Reserve# (-1.02) IV. Price Index 1. CPI inflation at national level (Base : FY 2005-06=100) Note: Figures in the parenthesis indicate percentage changes over the same period of the preceding year. P=Provisional, # Figures in the parenthesis indicate percentage changes over corresponding end June.