Pvt credits contract, indicate corporate slowdown
Dhaka, March 7 -- Private-sector credits remain on a slide -- official calculations showing a growth contraction to 9.95 per cent year on year in January -- which economists say could indicate slowdown in corporate activity.
Apart from central bank's tightening in monetary policy to combat soaring inflation, a wait-and-see stance by businesses in election time is also seen as a decelerator.
The fall, which followed a 10.13-percent growth in December 2023, was ostensibly attributed to banks becoming more cautious and private borrowers losing fund appetite particularly in January when the country's 12th parliamentary election took place, officials and bankers said.
According to the latest data of Bangladesh Bank (BB), the outstanding bal...
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