ECONOMY MOVING AHEAD IN UNBELIEVABLE PACE
Bangladesh economy is moving ahead in an unbelievable pace with most of the economic indicators showing a positive and rising trend, according to a Planning Ministry presentation.
The Ministry of Planning in Tuesday’s Ecnec meeting showcased the country’s fast economic pace through a banner presentation at the NEC conference room in city’s Sher-e-Bangla Nagar area. Prime Minister Sheikh Hasina presided over the meeting.
The presentation, titled ‘The economy of Bangladesh moving ahead in an unbelievable pace’, featured the country’s economic progress through 15 indicators.
In terms of the country’s economic growth, it showed that the country has managed to attain 6.2 percent GDP growth rate on average for the 2009-2014 period which was 4.5 percent on average during the 1991-2009 period and 3.4 percent on average till 1990 since the country’s independence.
On export earnings, the presentation showed that the export earnings were 30.2 billion in the last fiscal year (2013-14) which was only 12.2 billion in fiscal 2006-07.
In terms of revenue collection, it totalled TK 1,57,000 crore in the 2013-14 fiscal year compared to TK 49,000 crore in fiscal 2006-07.
Talking to reporters, Planning Minister AHM Mustafa Kamal said the presentation highlighting the country’s progress in major economic indicators was shown at the meeting.
The presentation showed that the inward remittance flow to the country totalled $ 14.2 billion in Fiscal year 2013-14 which was only 6 billion in fiscal 2006-07 while the country attained power generation capacity of 10,341 MW in fiscal 2013-14 which was only 3,718 MW in fiscal 2006-07.
The foreign currency reserve touched $ 22 billion last fiscal year compared to $ 7.47 billion in 2008-09 and 5.08 billion in fiscal 2006-07.
The per capita income over the years increased to $ 1190 in fiscal 2013-14 which was $ 598 in 2006-07 while the ADP utilisation totalled TK 57,000 crore in 2013-14 which was only about TK 20,000 crore in fiscal 2008-09.
It also showed Bangladesh’s success in terms of lowering the number of people living below the poverty line, raising the life expectancy, increasing annual average food grains production, raising the budget size, reducing the rate of average inflation and the rate of unemployment.
SEPTEMBER 19, 2014