Bangladesh Survey Shows 47.42% of Households Borrow to Meet Rising Costs
What happened
The Bangladesh Bureau of Statistics conducted a Living Standard Survey in Bangladesh, finding that 47.42% of households reported borrowing money to meet rising living expenses. The survey also noted a widening gap between household income and expenditure, with average monthly income at Tk 33,513 and average monthly expenditure at Tk 35,311.
From thedailystar.net
Why it matters
The survey highlights a cost-of-living crisis in Bangladesh, where the average household faces a monthly deficit of Tk 1,798. This financial strain suggests increased household debt and challenges to economic stability.
From thedailystar.net
Who's involved
- Bangladesh Bureau of StatisticsThe national body that conducted the Living Standard Survey.
- BangladeshThe country where the Living Standard Survey was conducted.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- BangladeshSpeculative
The cost-of-living crisis in Bangladesh might lead to widening income and expenditure gaps.
- RICESpeculative
RICE might face reduced consumer purchasing power for staples due to rising costs of living.
- Dhaka South City CorporationSpeculative
Dhaka South City Corporation might see increased operational costs due to inflationary pressure.
- PetrobanglaSpeculative
Petrobangla might see its market pricing and supply impacted by sharp rises in LPG cylinder costs.
- Bangladesh BankSpeculative
Bangladesh Bank might face challenges controlling inflation and maintaining monetary stability amid the cost-of-living crisis.
- Islamic Development BankSpeculative
The Islamic Development Bank might see an increase in the country's credit risk profile due to documented economic strain and rising household debt.
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The entities involved
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Bangladesh Bureau of Statistics
Bangladesh's principal government institution in charge of statistics and census data
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Bangladesh
country in South Asia