BANGLADESH TO BE AMONG ‘TOP 3’ FASTEST GROWING ECONOMIES BY 2050


BANGLADESH TO BE AMONG ‘TOP 3’ FASTEST GROWING ECONOMIES BY 2050

Ratings agency PricewaterhouseCoopers (PwC) has estimated that Bangladesh may easily be one of the top 3 fastest growing economies by 2050, according to a recent report.

Titled “The Long View: How will the Global Economic Order change by 2050”, the report predicted that Bangladesh can potentially become the world’s 28th largest economy by 2030, up from 31st in 2016, reports UNB.

It further stated that the country could become the 23rd largest economy by 2050 with an average annual growth of 5%. If it does so, it would supersede countries like Australia, Spain, South Africa, and Malaysia.

Its economic growth stood at 7.11% for fiscal year 2015-16 – higher than the 7.05% projected earlier by the government.

This was also the first time its economic growth stood above the 7% mark.

In the previous fiscal year, economic growth had risen at 6.55%.
After the release of the final figures, Planning Minister Mostafa Kamal had said that “to the best of my knowledge, this is the highest GDP growth rate achieved by the country after independence [1971].

The growth was a surprise to the upside not only for the government but for agencies such as the World Bank as well. For 2016-17, the government has set a target of 7.2% growth even though the World Bank sees a 6.8% pace.

Meanwhile, the Asian Development Bank – whose revised estimates of 7.1% growth for 2015-16 were quite close to the actual figure – estimates a 6.9% pace for the current fiscal.

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MARCH 23, 2017

About Ehsan Abdullah

An aware citizen..
This entry was posted in ACHIEVEMENTS - SUCCESS, CHALLENGES, CURRENT ISSUES, ECONOMY, FOREIGN RELATIONS & POLICY, GROWTH & TARGET, INDUSTRIES. Bookmark the permalink.

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