Bangladesh to become higher middle-income country soon: PM

Prime Minister Sheikh Hasina today said Bangladesh will soon become an upper middle-income country, as the government has been implementing massive development works in light of the “Vision-2021”and “Vision-2041”.

“Hope, we will soon be a higher middle-income country,” she made the remarks in the House responding to question from treasury bench member M Abdul Latif from Chattogram-11 constituency.

The scripted reply of the premier was tabled in the House as the proceedings of the session began this afternoon with Speaker Dr Shirin Sharmin Chaudhury in the chair.

Highlighting her government’s development initiatives, she said, “We have announced “Vision-2021” aimed at making Bangladesh a middle-income country freeing it from hunger and poverty by ensuring economic improvement of the people of my country and creating employment.”

“—We had been able graduating Bangladesh to a middle income one in 2015 after passing 42 years being a least developed country. Committee for Development of the United Nations gave its recognition in 2018,” she continued.

In this context, she also said, “—Bangladesh is becoming a role model of socio-economic advancement in the world despite facing various local and international challenges. It is not only our claim, but it was also recognized internationally.”

“We have reduced poverty rate to 21 percent in 2017-18 which was 40 percent in 2005 due to government’s success achieved in economic sector in the last few years,” she said.

Due to the government’s pragmatic measures to accelerate development of Bangladesh and create employment, she said,” The per capita income of Bangladesh now stands at US$ 1751, which was increased by US$ 141 in the last one year. The per capita income was only US$ 543 at the end of BNP-Jamaat alliance government in 2006.”

The premier has said that the per capita income will be US$ 5500 by 2031 while it will be US$ 16000 in 2041 as her government has been pursuing the “Vision- 2041.”

The government is now working to formulate a 2021-2041 development plan to make the country a developed and prosperous one by 2041, she apprised.

 Mentioning increase in GDP (Gross Domestic Product), savings and investments, revenue income, foreign trade, foreign reserve, power production, poverty reduction, size and management of budget and inflation and monetary management, Sheikh Hasina said that the country has got a strong economic footing due to these increases.

The Awami League government prepared the fifth five-year plan coming to power in 1996, implemented the sixth five-year plan assuming office in 2009, and now it is implementing the seventh five-year plan, she added.