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22 March, 2019 00:00 00 AM
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Bright forecast of GDP growth

Bright forecast of
GDP growth

There is little doubt that Bangladesh’s economy is progressing remarkably over the past few decades. This progress is visibly felt everywhere, despite the fact that yawning gap between the rich and the poor is now not very helpful for a balance economic development in the country.

For a long time, Bangladesh’s GDP growth hovered always over 6 per cent for quite some time, but in the recent past few years, the economic growth registered well above 7 per cent. According to the forecast made by the new Finance Minister AHM Mustafa Kamal, the upward trend of growth will register 8.13 per cent in the current fiscal and per capita income will reach $1,909. The finance minister also pointed out that the investment-GDP ratio in the current fiscal year will reach 31.57 per cent from 31.13 per cent in the previous fiscal year.

There is little doubt that it is an encouraging economic forecast and we hope it comes true. If Bangladesh performs even at its present standard, it will surely be able to shake off completely its current LDC (Least Developed Countries) status and will become a middle income country by the year 2015, a timeline officially given by the UN.

Now one may ask, what is propelling the country to achieve this unprecedented growth? It is surely because the country is currently passing through the desired political stability under the dynamic leadership of Sheikh Hasina. It is a time when businesses and industries are doing their activities unhindered.

Bengalis were never considered a hard-working people, if not a lazy one. But the present generation Bengalis have evolved into being a hard working one. Few will deny this reality. At offices and factories, including of course the garments factories dominated by female workers, people are working overtime and each of them is adding their individual contribution to the overall growth of the country.

If this pace is kept, it will not be difficult for Bangladesh to overtake India’s per capita income in the region and strive for what China and Malaysia have achieved in terms of GDP per capita. It is needless to point out that for that end, Bangladesh must improve conditions for more business-friendly atmosphere for the private sector as well as more foreign direct investment (FDI).         

 

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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