Global Financial Crises and Its Impacts on The Economy of Bangladesh: A Case Study

Abstract

The response of Bangladesh to the ongoing global economic crisis involves a complex interplay of both internal and external elements. This study examines how the global financial crisis affected Bangladesh's economy. Primary and secondary data were used to achieve goals. Analysis of data from the previous ten (2013-2014 to 2022-2023) fiscal years indicates the economic scenario of Bangladesh. There has been a marked increase in the global prices of oil, gas, and other commodities, fueled by strong domestic demand. Depreciation of the Bangladeshi taka against the US dollar caused inflation. Rising global commodity prices, gasoline prices, and local electricity tariffs contribute to Bangladesh's inflation. These factors will likely continue to affect inflation in the future months. The population is struggling to afford essentials, which lowers their living standards and savings.This research will help Bangladeshi lawmakers, academics, and policymakers comprehend the global financial crisis's causes and effects on the economy.