Congratulations to the Bangladesh Nationalist Party (BNP) on its sweeping victory in the general elections of February 12, 2026. This result stands for more than election results. It is a telling change in the political landscape of the country.
By winning over 200 seats, the BNP now controls a clear parliamentary majority.
This provides it with the opportunity to rule beyond the uncertainty of unstable coalitions or potential legislative standstill.
Such a mandate, if exercised with care and foresight, can restore a sense of policy continuity. It can also help strengthen public institutions and ease the confrontational political climate that has defined recent years.
Yet, the litmus test of stability will lie not solely in the numbers. That will depend on whether BNP decides to govern in a democratic manner, through consultations, with inputs from diverse quarters, and also constructively working together with political rivals.
This victory also appears to reflect a broader public rejection of divisive political narratives - particularly the use of religion as a tool of propaganda, the distortion of the historical legacy of 1971, and rhetoric that demeaned or humiliated women in public discourse.
It seems many voters may have sent a signal that they want politics to focus on governance, economic opportunity, and dignity rather than ideological plotting.
If the BNP realises this and actively encourages a style of political engagement that is inclusive and respectful, it might even start to shape the tone of national politics in a more positive direction.
Will this majority bring lasting stability?
A commanding majority creates space for swift decision-making.
It allows reforms to move forward without constant obstruction. In the short term, this may bring a degree of political calm and administrative clarity.
Yet, deeper and more lasting stability will require something more difficult.
It will require rebuilding trust. Confidence in electoral institutions must be strengthened. The rule of law must be applied consistently and fairly. And political power must be exercised without a spirit of retaliation.
Bangladesh’s past offers an important lesson. Periods of dominant political control have not always translated into durable stability. Instead, when power has been used without consensus-building, polarisation has often deepened.
The present moment, therefore, carries both promise and risk. If BNP opts for dialogue instead of domination, reform in place of repression, and reconciliation rather than confrontation, this majority can initiate a political cycle.
Otherwise, instability may persist beneath a surface appearance of order.
Can BNP quickly stabilise the economy?
Even under auspicious political circumstances, economic stabilisation usually doesn’t occur overnight.
Bangladesh’s economy is dogged by a series of complicated structural pressures. Inflation continues to run high, straining households. Foreign reserves arestill improving, but need to be managed with care.
Governance deficiencies and bad loans continue to plague the banking sector.
The domestic investment environment is constrained by heightened uncertainty, rising costs of doing business, and an unsatisfactory law‑and‑order situation.
External debt repayments and global economic uncertainty weigh heavily on the balance.
A secure parliamentary mandate allows the BNP to take some strong measures. It can practice fiscal discipline, tighten financial regulation, and deal with long-standing anomalies in the investment environment.
But rebuilding that economic confidence is about more than policy statements. Investors, businesses, and citizens look for consistency. They look for predictability. They look for signals that rules will not shift abruptly with the political winds.
Early steps may improve market sentiment, especially if they demonstrate seriousness and coherence. But lasting stability will need years of gradual reforms to be implemented in a credible way by institutions that people trust and a calm political environment.
A moment aligned with the spirit of the July 2024 uprising
This electoral victory also presents a deeper opportunity. It provides the opportunity not just for political change but also for institutional renewal.
The public’s aspirations that formed in the run-up to, and the aftermath of, July 2024 may not have been for one leadership over another. They reflected something broader and more profound. Citizens called for accountability. They demanded fairness. They sought dignity in governance. Many wanted institutions that serve the public interest rather than partisan agendas.
Meeting these expectations will require meaningful reforms across key pillars of the state. The civil service must be strengthened through professionalism and merit-based advancement. Appointments should reflect competence rather than political loyalty. Such changes would help restore confidence in administrative neutrality.
Parliament, too, must reclaim its role as a place of genuine debate and oversight. When parliamentary institutions function properly, they reduce political tensions and enhance democratic legitimacy.
The judiciary occupies an especially critical position. Its independence must be protected. Legal processes must remain fair, transparent, and free from political influence. When citizens believe that justice is impartial, trust in the state grows. Without these deeper reforms, even a powerful electoral mandate may prove temporary. With them, it could become the foundation for lasting democratic stability.
Public expectations, meanwhile, remain high. There is both hope and caution.
If political energy becomes absorbed in confrontation or symbolic battles, attention may drift away from urgent economic priorities.
Inflation, jobs, and investment are not abstract things. They shape everyday life. Should progress in these areas continue to be slow or uneven, public frustration might flare again.
International partners will also be observing closely. Their confidence will depend not only on economic policy but on the overall direction of governance. The early actions of the new government will matter greatly. The first months in office often shape perceptions that endure far longer. They can signal a commitment to reform and reconciliation. Or they can reinforce patterns of confrontation and consolidation.
The electoral mandate is unquestionably strong. Yet, its true significance will be determined by how it is used. This moment holds the potential to become a turning point, one that strengthens democratic institutions and economic resilience. Whether it becomes transformative or simply transitional will depend on the choices made now.
The writer is a Professor of Economics at Dhaka University, and Executive director at SANEM.
