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

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1. Monetary Policy Department Bangladesh Bank , Head Office, Dhaka. Fortnightly Trends of Major Economic Indicators: Updates on 15 February 2020 As per the latest available information, broad money increased by 6.14 percent and stood at Tk.1294435.10 crore in December 2019 over end June 2019 against the increase of 4.09 percent during the same period of the preceding fiscal year. Broad money increased over the reported period due mainly to increase in net domestic assets (NDA). Reserve money stood at Tk. 252206.90 crore as on 15 February 2020 which was Tk. 248454.90 crore as on 30 January 2020. Reserve money increased by 2.77 percent as on 15 February 2020 over end June 2019, which decreased by 1.88 percent during the same period of the preceding fiscal year. Domestic credit increased by 8.17 percent and stood at TK. 1240598.10 crore in December 2019 over end June 2019, which increased by 5.75 percent to Tk. 1080350.00 crore during the same period of the preceding fiscal year. Domestic credit increased over the reported period due mainly to significant increase in credit to public sector including government. Credit to public sector increased by 37.19 percent in December 2019 over end June 2019 against the increase of 6.49 percent during the same period of the preceding fiscal year. Credit to private sector also increased by 4.25 percent in December 2019 over end June 2019, which increased by 5.65 percent in the same period of the last fiscal year. Government borrowing from the banking system including BB increased by Tk. 2145.22 crore during the period of 01-15 February 2020, which increased by Tk. 3626.28 crore during the same period of the last year. Government overall borrowing from banking system also increased significantly higher by Tk. 52856.46 crore during the period from 01 July 2019 to 15 February 2020, which increased by Tk. 4451.75 crore during the same period of the last fiscal year. NBR tax revenue collection increased by 8.73 percent (y-o-y) and stood at Tk. 106551.03 crore during July-December 2019, which increased by 6.79 percent to Tk. 97993.69 crore during the same period of the last fiscal year. Inward Remittances increased by 21.49 percent and stood at US$ 11046.46 million during JulyJanuary 2019-20 against the increase of 9.39 percent to US$ 9092.56 million during the same period of the last fiscal year. Inward Remittances increased over the reported period due mainly to government’s announcement to provide 2 percent cash incentive on remittance through legal channel, applicable for an expatriate remitting maximum US$ 1500 or equivalent each time without any document. Exports decreased by 5.21 percent and stood at US$ 22919.47 million during July-January 2019-20, which increased by 13.39 percent to US$ 24179.59 million in the same period of the preceding fiscal year. Exports decreased over the reported period due to confluence of some factors including setback of growth in country's apparel sector for shrinking external demand. Current account balance recorded a lower deficit of US$ 1347 million during July-December 2019 as compared to a deficit of US$ 3388.00 million during the same period of the last fiscal year. Lower deficit in current account emerged from larger inflows of remittances.
2. Supported by a surplus in financial account balance as well as lower deficit in current account balance , overall balance in BOP recorded a surplus during July-December 2019. Therefore, foreign exchange reserves of BB increased by US$ 0.25 billion and stood at US$ 32.63 billion as on 15 February 2020 from US$ 32.38 billion as on 30 January 2020. Inflation on twelve-month average basis (Base: FY2005-06=100) increased to 5.60 percent in January 2020 from 5.59 percent in December 2019 due to increase in non-food inflation. On the other hand, point to point general inflation decreased to 5.57 percent in January 2020 from 5.75 percent in December 2019 due to lower food inflation than the previous month. Detailed fortnightly information upto 15 February 2020 are given at annex-1.
3. Annex-1 (continued) Detailed Information on Trends of Major Economic Indicators upto 15 February 2020 I. Money and Credit Particulars 1. Broad money (M2) 2. Reserve money @ 3. Bank deposits ## 4. 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 2018 November 2019 1155360.60 1275477.00 1294435.10 (+4.09) (+4.58) (+6.14) 248454.90 ** 228599.00 *** December 2019 252206.90 * (-1.88) (+1.25) (+2.77) 1010681.60 1120223.50 1137852.20 (+4.29) (+5.15) (+6.81) 1080350.00 1216202.50 (+5.75) (+6.04) (+8.17) 121498.80 180387.30 187446.50 1240598.10 (+6.49) (+32.03) (+37.19) 98152.20 153436.30 156860.80 (+3.43) (+35.46) (+38.48) 23346.70 26950.90 30585.70 (+21.60) (+15.39) (+30.96) 958851.20 1035815.30 1053151.50 (+5.65) (+2.53) (+4.25) Source: Statistics Department, BB. 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 2020, **Figure is as of 30th January 2020, ***Figure is as of 15th February 2019 . # Advances, import and inland bills. ## Demand and time deposits (excluding inter-bank) P
4. Annex-1 (continued) II. Government Financing (Taka in crore) As on Particulars Flow for the period of 15 February 2019 15 February 2020 01-15 February 2019 01-15 February 2020 01 July 2018 to 15 February 2019 01 July 2019 to 15 February 2020 1. A. Net outstanding position of govt. borrowing from Bangladesh Bank 21595.00 41982.02 576.45 -1306.15 -2050.64 8037.28 B. Net outstanding position of govt. borrowing from banking sector(including BB) 92709.42 160952.16 3626.28 2145.22 4451.75 52856.46 December2018 December 2019P December 2018 December 2019P July-December 2018 July-December 2019p 290879.65 326583.12 (+)3804.26 (+)60.26 (+)26805.26 (+)8580.04 December 2018 December 2019P July-December 2018 July-December 2019P 18333.14 (+3.12) 22352.67 (+21.92) 97993.69 (+6.79) 106551.03 (+8.73) 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 Source: Research Department & Statistics Department, BB and National Board of Revenue. 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) Particulars 2. Opening of Import L/C 3. Settlement of Import L/C ` 4. Inward Remittances 5. Exports (In million US$) December 2018R December 2019P July-December 2018 July-December 2019P 4744.20 5254.20 30070.70 29249.90 (+1.11) (+10.75) (+5.73) (-2.73) December 2018R December 2019R July-December 2018 July-December 2019P 4639.52 (+3.48) 4773.53 (+17.33) 5295.68 (+14.14) 4981.67 (+4.36) 29320.92 (-27.12) (+10.78) 28600.24 (-2.46) 27186.66 (-0.49) January 2019 January 2020P July-January 2018-19 July-January 2019-20P 1597.21 (+15.76) 1638.53 (+2.59) 9092.56 (+9.39) 11046.46 (+21.49) January 2019 3679.72 (+7.95) January 2020P 3617.31 (-1.70) July-January 2018-19 24179.59 (+13.39) July-January 2019-20P 22919.47 (-5.21) 27319.20 July-December 2018R July-December 2019P -3388.00 -1347.00 6. Current Account Balance 15 February 2019 30 January 2020 15 February 2020 31848.64 (-3.32) 32381.47 (-1.02) 32633.01 January 2019 December 2019 January 2020 a. Twelve month average basis 5.51 5.59 5.60 b. Twelve month point to point basis 5.42 5.75 5.57 7. Foreign Exchange Reserve# (-0.26) IV. Price Index 1. CPI inflation at national level (Base : FY 2005-06=100) Source: Statistics Department and Accounts & Budgeting Department, BB and Bangladesh Bureau of Statistics. 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.