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Staying on the growth path

  • Published at 12:03 am September 4th, 2019
Economy
Photo: BIGSTOCK

It is commendable that Bangladesh has become such a veritable economic force

The economy of Bangladesh continues to go from strength to strength. 

According to Finance Minister AHM Mustafa Kamal, Bangladesh has attained the highest GDP growth over the last 10 years out of all the countries of the world. Quoting the “Spectator Index,” the finance minister said Bangladesh has surpassed the economic growth of China, India, Indonesia, Malaysia, Australia, and Brazil.

It is commendable that Bangladesh has become such a veritable economic force. 

Only recently a heavily agrarian economy, Bangladesh has, in the past decade or so, turned itself into a major industrial hub. Special economic zones and export processing zones have contributed to this conversion. 

In the course of this economic advancement, millions have been lifted out of poverty, and the number of economically affluent has risen. Women have come to the forefront of economic advancement, and migrant workers have come to be a powerhouse for the nation.

However, concerns often arise about the distribution of the newly acquired wealth. Furthermore, much of the spectacular growth we have witnessed has been, sadly, jobless growth. The unemployment rate among the educated youth of our country remains very high, and the business environment of the country remains very difficult for entrepreneurs. 

Hence, Bangladesh is lagging behind on entrepreneurship and innovation. 

These are issues, no doubt, that need to be addressed without delay.

We must stay on track to continue our economic progress, and economic justice will follow, with more opportunities for the poor and underprivileged sectors of the population.