Tuesday, 28 September, 2021

Encouraging trend of GDP growth

Encouraging trend of GDP growth

It is for sure that a full economic recovery will certainly take a long time. However, the progress of our country, despite the plethora of obstacles hit by the Covid-19 pandemic, is commendable. A report of this daily’s yesterday issue said that the country’s GDP growth rebounded to 5.47 per cent in the fiscal year 2020-2021, which was 3.51 per cent in the previous fiscal year, much lower than the Bangladesh Bureau of Statistics (BBS) provisional estimate of 5.24 per cent. During the period, while the share of the agriculture sector has come down to 13.47 from 13.74, the share of the industry and the service sectors has seen an increase. No doubt about it that the nation has shown immense resilience to overcome many of the obstacles created by the pandemic and keep economic wheels running.

Despite the coronavirus pandemic, the country has made a turnaround in the last fiscal year, which is reflected in the higher growth. If the trend continues, experts expect, the growth will reach 7 per cent in the current fiscal year, which would be a great achievement against the adverse impact of the pandemic. The success in maintaining the macroeconomic stability of the economy has been gained due to the prudent policy of the government of Bangladesh, led by Prime Minister Sheikh Hasina. It would be impossible to rebound the growth without the incentives and financial backing doled out by the PM.

Besides, the hard laborious people of the country who have been working home and abroad facing trials and tribulations of the pandemic and have brought this tremendous success deserve great appreciation as well. We want to express our gratitude to migrant workers and readymade garment workers for their tremendous input to this success.

We do not know how long the coronavirus pandemic will prolong the agony of people by affecting our lives and livelihood. So, we should keep no stone unturned to ease the suffering of the poor people, help our economy recover and hold on the present rising trend of the national economy. Besides, there is no other option but to create human resources for overcoming the challenges that await us in the coming days.