It will take at least two years to turn the country's economy around: Information Minister

It will take at least two years to bring the country's fragile economy back to a self-sufficient state, Information Minister Zahir Uddin Swapan has said. He said this at the award ceremony of the month-long Islamic competition 'Alokit Mahe Ramadan' organized in the capital's Uttara area on Wednesday morning.

The Information Minister said that the responsibility for the looting and economic corruption of the past government is now being borne by the common people. In his words, "The country's economy is in a state of collapse. The government needs at least two years to come out of this situation and become self-sufficient again."

He also said that the country's social and political stability is very important for the recovery of the economy. He commented that if a peaceful environment is not maintained for the next two years, economic reconstruction will become more difficult.

Zahir Uddin Swapan said that the current government has inherited a debt burden of about 30 lakh crore taka. About 5 billion dollars in foreign debt has to be paid every year. On the other hand, the country's export income is limited to about $40 billion per year and remittance income is limited to $20 to $22 billion, which is putting pressure on the economy. At the same time, he also mentioned that Bangladesh is still heavily dependent on imports, so it has to import goods worth $60 to $70 billion per year.