"We have made two clear decisions: we will allocate 5 percent of GDP to health and 5 percent to education. This is our commitment," Chowdhury said.
The Bangladesh Bureau of Statistics says in quarterly GDP estimate
With a gross domestic product growth rate of nearly 5.8 percent in 2023, Bangladesh is one of the fastest-growing economies in the world. Driving Bangladesh’s prospects is our extremely active domestic consumer market, which accounts for nearly 70 percent of GDP and is rapidly expanding on the back of a growing middle and affluent class. Fuelling this growth is a digital economy that is also expanding rapidly.
The World Bank has forecasted a slow economic growth for Bangladesh because of factors like inflation
In its foreign policy and international relations, the country has always advanced a free and open Indo-Pacific.
The government’s dependence on borrowing to finance national budgets has increased over the past decade as revenue collection has failed to keep pace with the ballooning public expenditure.
The government should target reducing demand through ensuring market-based interest and exchange rates as well as cutting allocation for infrastructure projects to rein in inflation and protect the foreign currency reserves, said economists yesterday.
Bangladesh’s revenue-GDP ratio is a third of the median seen in the countries that have the same credit rating, highlighting the country’s weak capacity to finance development and support growth, according to American credit ratings agency Fitch Ratings.
Bangladesh’s public expenditure is not growing in keeping pace with the steadily expanding economy as it struggles to raise adequate revenues, thus failing to ensure full implementation of development programmes and provide expected services to its citizens.
"We have made two clear decisions: we will allocate 5 percent of GDP to health and 5 percent to education. This is our commitment," Chowdhury said.
The Bangladesh Bureau of Statistics says in quarterly GDP estimate
With a gross domestic product growth rate of nearly 5.8 percent in 2023, Bangladesh is one of the fastest-growing economies in the world. Driving Bangladesh’s prospects is our extremely active domestic consumer market, which accounts for nearly 70 percent of GDP and is rapidly expanding on the back of a growing middle and affluent class. Fuelling this growth is a digital economy that is also expanding rapidly.
The World Bank has forecasted a slow economic growth for Bangladesh because of factors like inflation
In its foreign policy and international relations, the country has always advanced a free and open Indo-Pacific.
The government’s dependence on borrowing to finance national budgets has increased over the past decade as revenue collection has failed to keep pace with the ballooning public expenditure.
The government should target reducing demand through ensuring market-based interest and exchange rates as well as cutting allocation for infrastructure projects to rein in inflation and protect the foreign currency reserves, said economists yesterday.
Bangladesh’s revenue-GDP ratio is a third of the median seen in the countries that have the same credit rating, highlighting the country’s weak capacity to finance development and support growth, according to American credit ratings agency Fitch Ratings.
Bangladesh’s public expenditure is not growing in keeping pace with the steadily expanding economy as it struggles to raise adequate revenues, thus failing to ensure full implementation of development programmes and provide expected services to its citizens.
The private investment-to-GDP ratio in Bangladesh declined in the current fiscal year owing to a lower confidence among investors amid the persisting dollar crisis and global uncertainty, higher inflation and a fall in demand for goods in international markets.
