The per capita income of Bangladesh has increased by 149.07 percent in the last 10 years along with remarkable successes in all socio-economic indicators from the 2008 to 2017 because of the government’s inclusive and pro-poor policies.
According to the Finance Ministry, the country’s per capita income has increased to US$1751 in the 2017-18 financial year (FY18) from $703 in 2008-09 financial year (FY09).
Talking to BSS, Finance Division Secretary-in-Charge Abdur Rouf Talukder said Bangladesh has achieved successes in various socio-economic indicators, including GDP growth, per capita income, food production, remittance, inflation, import and export in the last ten years for taking prudent and long term policy.
The most significant achievement was that the economic growth, which accelerated to 7.86 percent in FY18 from 5.05 percent in FY09.
During the same period, remittance inflow increased to $14,981.69 million from $9,689.26 million and the foreign exchange reserve increased to $32943.50 million from $7,470.90 million. Talukder said inclusive and pro-poor policy programmes of the government have largely contributed to the reduction of poverty and inequality along with ensuring commendable economic growth.
“Moreover, social mobility and women empowerment have improved largely and Bangladesh has moved further in human development index as well,” he added.
The expected average life expectancy in 2008 was 66.8 years which increased to about 72 years in 2017. The rate of poverty declined to 24.3 percent in FY18 from 31.5 per cent in FY09 and extreme poverty rate reduced to 12.9 per cent from 17.6 per cent.
Research Director of the Center for Policy Dialogue (CPD) Khondaker Golam Moazzem said, “Bangladesh economy has taken a positive shape in the last 10 years. The country has achieved Millennium Development Goals (MDGs) successfully, now it is moving forward to achieve the Sustainable Development Goals (SDGs).”
Over the last 10 years, he said, Bangladesh has been able to achieve inclusive growth by maintaining over 6 percent GDP growth and developing infrastructures across the country.
During the period, Moazzem said, the government gave priority to electricity, gas and communication for developing infrastructures and making the country an investment hub for both local and foreign investors.
He urged the authorities concerned to increase the economic reform activities for achieving over 8 percent GDP growth.
According to the Finance Ministry, the government has announced Taka 4,64,573 crore national budget for 2018-19 financial year. In FY18, the budget size was Taka 4,00,266 crore and the size was Taka 99, 962 crore in FY09 .-BSS