The poverty rate is projected to come down to 7% by 2031 and below 3% by 2041
The National Economic Council (NEC) has approved the country’s second Perspective Plan for the year 2021-2041, in a bid to turn Bangladesh as a higher mid-income country by 2031 and a higher income and developed country by 2041.
The approval came from the NEC meeting held at the NEC Conference Room with its NEC Chairperson and Prime Minister Sheikh Hasina in the chair, reports BSS.
The implementation of the country’s first Perspective Plan (2010-2021) is nearing completion.
Briefing the reporters after the meeting, Planning Minister MA Mannan said the meeting approved this historic outline document for the next 20 years based on four institutional pillars which are governance, democratization, decentralization, and capacity building.
According to these projects with long-term plan, the country’s per capita income on current price would stand at US$12,500 by 2041.
It said the country’s GDP growth rate in 2031 is expected to reach 9%, while it would further expect to grow to 9.9% in 2041.
The extreme poverty rate in the country is expected to reduce to 2.55% by 2031 from 9.38% in 2020 (base year), while it is expected to come down further to 0.68 percent by 2041.
The poverty rate is projected to come down to 7% by 2031 and below 3% by 2041.
Major goals of the mega plan are to eliminate extreme poverty by 2031 and to bring down the poverty rate below 3% by 2041.
It also aims to ensure industrialization and structural transformation, as well as exemplary change in the agriculture sector and an export-oriented economy.
The planning minister said although the NEC gave approval to the final document of the Perspective Plan, the ministries and divisions will be able to give their further inputs within the next one month and thus those would be in incorporated.