In 1971, when Bangladesh emerged victorious from the Liberation War, many doubted that the country could survive as an independent state. Fifty years later, those doubts have been put to rest. Our GDP has grown from USD 6.2 billion in 1971-72 to USD 409 billion in 2020-21, and our per capita income has risen from USD 135.62 in 1970 to USD 2,554 at present. Foreign exchange reserves now stand at around USD 46.21 billion. The country officially achieved lower-middle-income status in 2015 and is on course to graduate from the LDC status in 2026.

Alongside economic growth, the country has achieved significant social progress. The average life expectancy at birth has risen from 39.93 years in 1971 to 72.8 in 2020, child mortality rate decreased to 30.8 deaths per 1,000 live births in 2019, and the literacy rate has more than doubled since 1970.

However, there are a few issues that are undermining decades of development efforts and need urgent attention. Of these, income inequality is a major concern. According to the World Inequality Report 2022, only one percent of Bangladesh's population held 16.3 percent of national income in 2021, and the bottom half held 17.1 percent. Research suggests that the number of ultra-wealthy people in Bangladesh increased faster than in any other country in the world between 2010 and 2019. Bangladesh was ranked first among the top 10 fastest growing wealth markets in the world during the period, where wealthy people with more than USD 5 million in net worth increased by 14.3 percent a year on average.

Additionally, while Bangladesh has made remarkable progress in expanding primary education, especially in terms of enrolment and gender parity, there are serious concerns surrounding the quality of education. At the tertiary level, we have failed miserably. No Bangladeshi university found a proper place in the QS World University Ranking 2022—Dhaka University and Buet were placed in the 801-1000 range, while our best private universities ranked even lower.

Despite exceptional economic growth, we have failed to create adequate jobs. Different studies show that between 2013 and 2017, while the average annual GDP growth was 6.6 percent, the average annual growth of jobs was only 0.9 percent. The employment share of the manufacturing sector actually declined from 16.4 percent to 14.4 percent. At present, there are 2.1 million unemployed and 13.8 million underemployed people in the country. The situation has only been exacerbated by Covid-19—ILO data suggests that an additional 1.12-1.68 million youth might be unemployed due to massive disruptions in economic activities and labour markets.

Urbanisation and environment is another area of concern. In the 2020 Environmental Performance Index (EPI), Bangladesh ranked 162nd out of 180 countries. Our cities are growing in an unsustainable manner, and parks, open spaces, rivers, canals and waterbodies are gradually disappearing. Pollution and encroachment are the major culprits. According to the Bangladesh Water Development Board (BWDB), out of the 310 rivers in Bangladesh, 175 are in a miserable state and 65 are almost dead. Eighty percent of the rivers lack proper depth. Since 2018, Dhaka has been ranked as one of the most polluted cities in the world.

In a country this polluted, it does not bode well that Bangladesh's investment in health is one of the world's lowest (less than one percent of GDP). Even after 50 years of independence, the country's healthcare sector is in shambles. There is a severe shortage of physicians, medical technologists, nurses and clinical equipment. Currently, there is one registered physician per 1,847 people, and one government physician per 6,579 people, according to the Bangladesh Medical and Dental Council (BMDC). Patients, especially the poor and disadvantaged, end up seeking healthcare from non-qualified providers in the informal sector. Every year, a large number of people—including politicians, businessmen and even ordinary people—go abroad for medical treatment due to a lack of confidence in our healthcare system. The Bangladesh Investment Development Authority (BIDA), using data from Health Bulletin, estimates that Bangladeshis spend around USD 2.04 billion annually on healthcare abroad.

The healthcare problem is compounded by issues related to nutrition. According to a recent study by the UN Food and Agriculture Organization (FAO), between 2018 and 2020, the number of people without food security in Bangladesh increased by 2.4 percent to a whopping 52 million. The report further said that nearly two-thirds of regular diets include mostly rice, some vegetables, a little amount of pulses and small quantities of fish—if and when available. Moreover, with rising prices of daily commodities and reduced income due to the ongoing pandemic, low- and middle-income households are unable to afford a nutritious diet. Bangladesh is also lagging behind in providing appropriate nutrients to infants and young children—most suffer from high rates of micronutrient deficiencies, particularly vitamin A, iron, iodine and zinc deficiencies.

On top of that, we are faced with water and sanitation issues. Research suggests that 41 percent of all our improved water sources are contaminated with E. coli bacteria, which was present in 80 percent of private piped-water taps sampled across the country, suggesting a high prevalence of faecal contamination. Although the country has successfully eliminated the practice of open defecation, about 50 million people still use shared, rudimentary toilets, and only 28 percent of toilets are equipped with soap and water. In urban areas, slums have poor access to clean water, and slums in large cities have five times less access to improved sanitation.

In addition to the factors discussed above, corruption, rising anti-social activities, poor and inefficient infrastructure, low levels of female labour force participation, low tax-GDP ratio, a lack of good governance, etc are threatening to undo some of our hard-earned successes. While we rejoice and celebrate our achievements, we also need to take immediate action to resolve these issues in a sustainable manner, in order to generate continuing development.

Abu Afsarul Haider is an entrepreneur. Email: afsarulhaider@gmail.com