According to the latest report of the Asian Development Bank, the expected growth of Bangladeshi GDP in 2021 is 6.8%.
According to Manmohan Parkash, Asian Development Bank’s national director for Bangladesh: “Bangladesh’s economy has begun to recover from the pandemic. Despite considerable pressure on health care systems and the management of the pandemic, the government managed the economy well, applying appropriate economic incentives and social protection measures, providing basic services and goods for the poor and disadvantaged.”
The projected growth will be based primarily on Bangladesh’s rich production infrastructure and the ever-growing share of exports in the national economy. Furthermore, the prudent macroeconomic management and the smooth implementation of economic stimulus measures by the government are also an important factor. However, the ABR indicates a prolonged SARS-CoV-19 virus pandemic in the People’s Republic of Bangladesh and the largest importers of Bangladeshi goods as a very real threat to economic recovery.
In addition, according to the ABR report, the inflation rate is expected to be moderate 5.5% in 2021, and the current account deficit will decrease to 1.1% of Bangladeshi GDP. The above is to reflect the expected crop yield in the agricultural sector and favourable prices of Bangladesh’s export goods on international markets.
The best summary of the ABR report are Monmohan Parkash words: “We are encouraged by the growth of exports and remittances and hope that the economic recovery will be sustainable, helping to achieve the projected growth rate. The crisis is an opportunity to undertake further reforms in terms of resource mobilization, export diversification, job creation, skills development and social protection.”.
Grzegorz Suchanicz
Source: unb.com.bd