Impact of Covid-19 on the economy of Bangladesh

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The recent outbreak of 2019- Novel Coronavirus recently termed as Covid-19 has a tremendous impact on the world economy and so on that of Bangladesh. A recent analysis on the impact of the outbreak in the Asian countries was published by the Asian Development Bank (ADB) which opined a cut off in the gross domestic product( GDP) by 1.1% in Bangladesh. 

They made an assumption of the impact in three categories while the best situation -not affect, worse situation- effective and the worst is that highly affected. Apart from 94 countries affected by the virus, Bangladesh is yet to be affected but the ramifications thers effected is a great concern. 

The study considering all the major aectors of GDP mark up an edge where Bangladesh may wipe out 3.02 billion US dollar from the economy of 300 billion US dollar. Many sectors of the economy including readymade garments, raw materials,  export-import is in at stake when the maximum of our economy dependent on the most populated Asian country simultaneously the second largest economy of the world.

 To alleviate the cost of the ongoing outbreak, the socialist government Bans all types of communication with the epicentre of the virus in order not to spread the impact which causes a shortage of raw materials impeding Bangladeshi exporters to reach the goal by fulfilling the customer demand. Besides Bangladesh is facing problems in tourism sectors and the ongoing construction of Infrastructures. Despite December & January is a peak season to attract the tourist in the country but in this season the sector is vandalising as almost 80% of  5- 6 lakh tourists come usually from China. Barriers from China will hurt the export-oriented Industries especially connected with China said the Finance Minister adding that the total impact of the outbreak will be clear at the last of the march but it is undoubtedly true that Bangladesh is suffering from the pandemic and the situation become worse if it continues for a long period.