High LNG Prices Slow Bangladesh Growth
Bangladesh reports that surging liquefied natural gas prices are slowing industrial growth and forcing electricity outages. The power minister states that rising subsidies limit development spending and urge renewable energy investments.
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Bangladesh's industrial growth is facing severe slowdowns as soaring Natural Gas prices drive up energy subsidies and trigger electricity outages. The South Asian nation spent nearly 4% of its GDP annually on power and gas subsidies prior to the conflict involving Iran and the United States—Israel coalition. Rising energy costs are now squeezing government budgets, forcing cutbacks on broader economic development programs.
