Wednesday, 25 May, 2022

Debt-to-GDP ratio of Bangladesh lowest in the world: Kamal

  • Staff Correspondent
  • 8 April, 2022 12:00 AM
  • Print news

Finance Minister AHM Mustafa Kamal on Thursday said Bangladesh economy is in a safe zone and the country’s debt to GDP ratio is the lowest in the world. 

“The whole world is saying our economy is doing better than many others considering healthy economic indicators like debts-to-GDP ratio,” the minister said.

The ratio indicates that Bangladesh’s economy is doing great, the finance minister told the media after attending a virtual meeting of the Cabinet Committee on Economic Affairs (CCEA) and Cabinet Committee on Public Purchase (CCPP).

“Bangladesh's debt-GDP ratio is 34 percent, which is the lowest in the world,” he said.

“Our foreign exchange reserves are much higher than the requirement, remittance is increasing, export is growing, and inflation is under control. We're in a safe zone", he added.

He said most countries are in a bad economic situation because of their high debt-to-GDP ratio.

The minister also expressed hope that Bangladesh’s economy will keep doing well in the days ahead.

Kamal said the whole world is appreciating Bangladesh for its economic performance.

He said the countries having debt higher than their GDP (gross domestic products) are currently in danger. "But we are not at that level. Rather, our debt is much lower than the GDP," he asserted.

Responding to another question, the finance minister said the toll rates of the Padma Bridge have not been fixed yet. But a joint venture of South Korea and China has been awarded a contract to collect the tolls from the Padma Bridge project.

"We haven't done any detailed work on it. But we have a plan to make some profits by collecting revenue from the Padma Bridge project in order to implement more similar projects," he said.

He said both the government and the users of the Padma Bridge will benefit from the project.

"We hope we could collect more revenue than the requirements to meet its expenditures," he added.