The Center for Policy Dialogue (CPD) on Thursday put the flood damage estimate at Tk 11,418 crore or 3.4 percent of GDP and asked the government to adopt short- and medium-term measures for a year.
The independent civil society think-tank says its initial damage estimate can rise to Tk 15,000 crore at the maximum. The UN had put the figure at $7 billion and the government at $6.7 billion
"The main challenge the government faces now after the recession of floodwaters is to create domestic demand through adopting an expansionary economic policy by increasing public expenditure," Dr Debapriya Bhattacharya, executive director of the CPD, said at a press briefing on "Rapid Assessment of Flood 2004" in the capital.
Bangladesh with its own domestic resources can by and large finance the post-flood reconstruction work, the CPD maintains.