GDP
Graduation to the list of developing countries: Decisions must be based on reality
To qualify for graduation to the final list of developing countries, a nation must meet three essential criteria. Bangladesh has successfully met all of these conditions. After being under observation for several years, Bangladesh is set to officially graduate to the developing country category in 2026. This will be the most significant economic achievement for the country since its independence. No nation wants to remain a least developed country (LDC) indefinitely. Every country aspires to graduate to the developing nation category as quickly as possible. While LDCs receive certain benefits from developed nations, these privileges are often granted out of a sense of charity rather than respect. Thus, achieving developing country status is a matter of national pride.
Economic significance of women's empowerment goes beyond GDP growth
Bangladesh is a small country in South Asia with a population of 172.92 million. Over the past few decades, the country has emerged as a development success story. Currently, the female population in Bangladesh is 88.07 million, slightly higher than the male population of 84.85 million. Although women are an important part of the country's demographic and economic reality, gender disparities in education, employment and professional representation are still evident, highlighting the need to take more initiatives to empower women economically. Women's empowerment is not only a social imperative, but also an economic imperative for Bangladesh. By removing barriers to women's participation and advancement in various economic activities, the country can unlock significant economic potential and accelerate the pace of development.
Some thoughts on the budget for FY 2025-26
The preliminary work for drafting the national budget for the upcoming fiscal year (2025-26) has already begun. If everything goes as planned, the proposed budget will be presented for approval on June 5. Since there is no active national parliament at present, the proposed budget for the next fiscal year will be submitted for approval to the advisory council of the interim government. Since Bangladesh gained independence, the national budget has been approved through the parliament every year, except during periods of military rule and the fiscal years 2007-08 and 2008-09.
Accurate statistics are essential for food security
There is a lack of reliable statistics in the country. The data regularly provided by various government and private organizations are often questionable and do not always align with reality. As a result, the public has limited confidence in the statistics related to national income growth, inflation, production, consumption, and distribution. This lack of trust must be addressed by ensuring accurate and reliable data from the concerned institutions. Without this, it is impossible to formulate and implement effective development plans. Accurate statistics are also crucial for research; otherwise, the findings may fail to achieve their intended goals.
Curbing inflation is priority over high growth now
cently, Bangladesh Bank announced a new monetary policy. This was the second monetary policy for the current fiscal year (2024-25) and the first one formulated under the present interim government. For quite some time, economists had been discussing the proposed monetary policy. Given the ongoing trend of high inflation in the country for nearly three years, there was significant interest in what kind of monetary policy would be adopted
Contractionary monetary policy alone can’t solve inflation woes
The Bangladesh Bank announced the second monetary policy of the current fiscal year on February 10, 2025. This was the second monetary policy for the fiscal year 2024-25 and the first policy under the interim government. There was considerable anticipation regarding the announced policy, and many experts had expected it to be contractionary in nature. Indeed, the policy can be described as contractionary in terms of its characteristics, as it focuses more on controlling the existing high inflation rather than achieving high growth.
Private sector investment key to sustainable development
Every nation strives to achieve rapid and sustainable development. The core responsibility of any government is to ensure the optimal use of limited resources to maximize public welfare and elevate the country to the peak of development. A government that fulfills this responsibility effectively and brings development to all sectors of society is considered a government committed to public welfare. Many people believe that simply achieving economic development will fulfill the primary goal of development, but this belief is not entirely accurate. Development is a comprehensive concept, not limited to just economic progress. While economic development is an important indicator, it is not the sole measure of overall development. In other words, without achieving positive progress in other development indicators alongside economic growth, it cannot be considered balanced development. Economic growth is crucial, but it is not the only criterion for developmen
Why no commission for education reform?
The interim government has formed several commissions to implement reforms in various sectors. These committees have already submitted their reports with recommendations to the government. However, the unfortunate reality is that no commission has been formed to reform the nation’s backbone — the education system. Although several commissions in the past have submitted reports for educational reforms, no government has implemented the recommendations of these education commissions. As a result, the current education system is unable to meet the demands of the times. We are producing a highly educated workforce, but there are doubts about how well-educated they actually are and whether they can contribute to building a prosperous state. Without creating a modern, technology-driven, and vocational education system, the nation will never reach its desired goals. The workforce our education system is producing is not capable of competing on the international stage.
What message does world receives from Trump's 'America First' doctrine
Donald Trump is returning to the White House for a second term, and this return could bring significant changes to global politics and economics. It is believed that once Trump resumes his duties as the President of the United States, he will begin implementing his declared "America First" policy. This agenda will not only change the intricacies of US foreign policy but will also have a profound impact on the lives of millions of people living outside America's borders. There is much speculation about how Trump's approach to major international issues might unfold. During his election campaign, Trump repeatedly stated that he could end the Russia-Ukraine war in a day, though he never clarified how he would achieve this.
State action needed to harness demographic dividend
In the 1980s, the then military dictator General HM Ershad described uncontrolled population growth as the "number one national problem." Although his statement created a stir at the time, it was a completely misleading comment. Population growth, whether planned or unplanned, can never be the number one national problem for a country. Population is an irreplaceable resource. The progress of the world cannot be imagined without it. If population is systematically trained and transformed into a skilled and productive workforce, it becomes the nation's greatest asset. However, if population growth is unmanaged, it becomes a burden for the country. The responsibility of turning the population into human capital lies solely with the state. The state cannot escape the blame for its failure to do so.
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