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Explain the following current issues:
Write in brief whether the US-Iran tension will deals a blow to Bangladesh's economy.
As tension between the United States and Iran fuel fears of war, economist and international relations experts warn that any armed conflict between the countries will deal a blow to Bangladesh's export-import, and overseas job market in the Middle East. Oil prices have already started going up and if it continues, global economy, including that of Bangladesh, will witness a downturn.
Bangladesh heavily depends on migrant remittance and oil import from the Middle East which has over half of the world's proven oil reserves, white the United States is one of Bangladesh's largest export destinations. So, Bangladesh will suffer if oil prices rise. Thus, if a war breaks out and it spreads across the Middle Eastern regions and prolongs, it will have an adverse impact on our economy.
In Bangladesh, the price of liquefied petroleum gas has increased by 20% at retail stores after the rise in oil prices in the international market. This happens because any rise in gas and oll prices will affect the prices and supplies of the commodities.
