Bangladesh PM unveils Taka 72,750 economic package to counter adverse effects of coronavirus

Bangladesh Prime Minister Sheikh Hasina on Sunday announced stimulus packages to the tune of Taka 72,750 crore (USD 8,573 million) to counter the adverse effects of coronavirus on the country's economy.

"Earlier I declared Taka 5,000 crore (emergency) incentive package for paying salaries and allowances of export-oriented industry workers and employees and today I am announcing four fresh financial stimulus packages of Tk 67,750 crore," she said.

In a nation-wide, televised address from her official Ganobhaban residence on Sunday, the premier said with the fresh allocations the total amount of financial assistance would stand at Tk 72,750 crore, which is nearly 2.52 per cent of GDP.

"I hope our economy will rebound and we can reach near the desired economic growth, if the stimulus packages -- the previous and the fresh ones -- are quickly rolled out," she said.

The premier said the government has simultaneously taken up four programmes under the work plan which are to be implanted in immediate, short and long" phases to increase public expenditure mainly through employment generation, introduce stimulus packages and widen social safety net coverage