Bangladesh has relied too heavily on certain aspects of the economy, such as RMG, to boost growth
Bangladesh has experienced tremendous growth in the past few years, with the current rate at almost 8%.
While this is no doubt commendable -- thanks in large part to encouraging government policies which have prioritized the economy and the hard work of the people of this country -- what is important in the long run is for this rate of expansion to be sustainable.
It is in this context that Planning Minister MA Mannan’s hopes for sustainable growth for Bangladesh, that too at 9-10%, are welcome.
A significant hurdle that Bangladesh faces right now is the number of people who still live in poverty and the continuously growing number who join the labour force every year.
The solution to both these problems, in essence, are the same.
Bangladesh has for the longest time relied too heavily on certain aspects of the economy, such as RMG and remittance, to boost growth.
But, in recent years, the government has sought to make the economy more robust. This has come about through commendable efforts to diversify our economic basket, focusing on other sectors such as ICT and jute.
This will no doubt strengthen our economy, and create room for employment, providing people the opportunity to improve their lives in the long run.
But this cannot come about without also ensuring that the marginalized and the poor acquire the skills needed to become a part of the economy, which has been tackled to some degree by the technical schools created by the government all over the country.
At the end of the day, an economy runs on the backs of its people, and if the government continues to include them on the path towards progress, sustainable growth can very much be a reality.