Saturday, 23 October, 2021

Prospective growth of national economy

Other than in the abnormal situation during the corona pandemic, Bangladesh’s economic growth not only remained steady but also maintained an upward thrust registering a 7+ growth rate since 2016. This positive drift culminated to a soaring growth rate of 8.153 in 2019. Even during the pandemic, Bangladesh achieved a growth rate of about 2.4 per cent and became one of the few countries that recorded positive growth rate. These smart performances of the country in the economic front resulted in the steady growth of per capita GDP and helped Bangladesh to qualify for transition to the next stage of development.

In continuation of the same trend, the country’s per capita GDP is reportedly going to be more than $2,138 in 2021 as against $1,968 in 2020. This could be learnt from a projection of IMF’s World Economic Outlook 2021 released on Tuesday. The country is going to achieve this despite the damaging impacts of the pandemic, supply disruption over an unexpectedly longer period and price pressure across the globe. According to a news report of this daily, the multilateral lender also forecast that Bangladesh’s economic growth will be 6.5 per cent in the current year. The projected growth, though much below the records in 2019, is going to be significant in itself, especially after the devastation caused by Covid-19.

Whatever the country achieved has been possible due to the pragmatic economic and developmental policies pursued by the government led by Prime Minister Sheikh Hasina. The stimulus packages that the government declared with a view to enabling economic entities to overcome adverse impacts of the pandemic would surely start bearing fruits and help the national economy maintain the growth trajectory. The prime minister sounded much confident when she vowed to continue the country’s development spree braving whatever danger and disasters may come. Given the resilience and hard working nature of the people, Bangladesh will march ahead in big strides and achieve the lofty objectives it has set before itself – first to achieve a developing country status in the foreseeable future and then a developed country rank within two decades.