• Friday, Sep 20, 2019
  • Last Update : 01:03 am

PM: Bangladesh to become higher middle income country soon

  • Published at 11:22 pm March 6th, 2019
Web_File photo of Prime Minister Sheikh Hasina
File photo of Prime Minister Sheikh Hasina Focus Bangla

'We have announced “Vision 2021” aimed at making Bangladesh a middle income country, free from hunger and poverty by ensuring economic improvement by creating employment'

Prime Minister Sheikh Hasina on Wednesday said Bangladesh will soon become an upper middle income country, as the government has been implementing massive development projects in light of the “Vision 2021” and “Vision 2041”.

“Hope, we will soon be a higher middle income country,” she made the remarks in the House while responding to question from treasury bench member M Abdul Latif from the Chittagong 11 constituency.

The scripted reply of the premier was tabled in the House as the proceedings of the session began this afternoon with Speaker Dr Shirin Sharmin Chaudhury in the chair.

Highlighting her government’s development initiatives, she said: “We have announced “Vision 2021” aimed at making Bangladesh a middle income country, free from hunger and poverty by ensuring economic improvement by creating employment.”

“We were successful in graduating Bangladesh to a middle income country in 2015 after passing 42 years of being a least developed country. Committee for Development of the United Nations gave its recognition in 2018,” she continued.

In this context, she also said, “Bangladesh is becoming a role model of socio-economic advancement in the world despite facing various local and international challenges. It is not only our claim, but it was also recognized internationally.”

“We have reduced the poverty rate to 21% in 2017-18 which was 40% in 2005 because of the government’s success achieved in the economic sector in the last few years,” she said.

Due to the government’s pragmatic measures to accelerate Bangladesh’s development and create employment, she said: “The per capita income of Bangladesh now stands at $1751, which was increased by $141 from last year. The per capita income was only US$543 at the end of the BNP-Jamaat alliance government in 2006.”

The premier said that the per capita income will be $5500 by 2031 and it will be $16000 in 2041 as her government pursues the “Vision 2041.”

The government is now formulating a 2021-2041 development plan to make the country a developed and prosperous one by 2041, she apprised.

Mentioning the increase in GDP (Gross Domestic Product), savings and investments, revenue income, foreign trade, foreign reserve, power production, poverty reduction, size and management of budget and inflation and monetary management, Sheikh Hasina said that the country has a strong economic footing due to these increases.

The Awami League government prepared the fifth five-year plan coming to power in 1996, implemented the sixth five-year plan assuming office in 2009, and now it is implementing the seventh five-year plan, she added.