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GDP Growth

More economic woe for Ebola nations

More economic woe for Ebola nations

The World Bank has revised downwards its 2014 GDP growth projections for the three nations worst hit by the current Ebola outbreak - Liberia, Sierra Leone and Guinea. "The Ebola epidemic continues to cripple the economies," it said. Its report comes as bank President Jim Yong Kim begins a two-day visit to West Africa to...

Good infrastructure key to higher growth

Good infrastructure key to higher growth

It will not be possible for Bangladesh to achieve seven percent GDP growth without upgrading the road network and other infrastructure, according to a World Bank report. If Bangladesh wants to get out of the six-percent growth trap, it has to implement quickly key projects like Dhaka-Chittagong and Dhaka-Mymensingh highways, Zahid Hussain, lead economist at the WB's Dhaka office, said at the launching of Bangladesh Development Update yesterday. He also stressed the need for quick implementation of other protects such as upgrading of Dhaka-Chittagong railway line into double track, Dhaka Metro Rail, the Padma Bridge project and two power plants at Bibiyana. Mentioning the sorry state of highways and roads, the WB...

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THE NEW GLOBAL ECONOMY

China's vicious growth circle

China's vicious growth circle

MOST economists have a reason to be worried about China's economy -- whether it be low consumption and large external surpluses, industrial overcapacity, environmental degradation, or government interventions like capital controls or financial repression. What many fail to recognise is that these are merely the symptoms of a single underlying problem: China's skewed...

CROSS TALK

Toward a new world moral order

THE world has changed before, and it's changing now. If we hated the sins not the sinners in the past, that game is turning on its head. Starting last month, Europe is supposedly including illegal activities in GDP calculation, counting incomes from gambling, smuggling, drugs and prostitution. Next time roads, parks, highways and dams are built and government subsidies go to power, healthcare and education sectors in the European countries, some of that money will not only be soaked...

Dull investment takes toll on GDP growth

Dull investment takes toll on GDP growth

The country may not be able to achieve 7 percent average economic growth in the final two years of the Sixth Five Year Plan due to sluggish investment, a government review report said yesterday. Shamsul Alam, member of general economics division of the planning commission, presented the report on the country's achievements in the...

Political stability key to higher growth: MCCI

Political stability key to higher growth: MCCI

Bangladesh needs to control inflation, keep the macro-economy stable and meet the export and revenue collection targets to achieve the desired economic growth this fiscal year, a leading chamber said yesterday. The overall economic condition was positive as indicated by steady improvements in the major economic indicators in the just concluded fiscal year, said...

Jobs for 19 lakh in next fiscal yr

Around 19 lakh people are likely to get new jobs in the next fiscal year, as the government has set a target of employment generation based on GDP growth and manpower export, according to a planning ministry estimate. “Higher GDP growth generates higher employment for the people,” Planning Minister AHM Mustafa Kamal said yesterday at a press briefing, organised for the first time to highlight his ministry's activities before the media. Explaining the employment generation calculation method based on GDP (gross...

Private investment the key

Private investment the key

The economy faces an impossible task of raising private investment by Tk 75,000 crore in fiscal 2014-15 to achieve the desired 7.3 percent GDP growth, the Centre for Policy Dialogue said yesterday. To that end, private investment needs to rise to 25 percent of gross domestic product from the present 21 percent, an increase...

Present predicaments and the way out ...

For some inexplicable reasons, there appears to be a strange sense of complacency in the government. It could be because the government-party leaders do not quite know as to what to do, and how to act. They know that they have managed to land in a situation, and it is in their selfish interest to try and continue to be there, by hook or by crook, for as long as they can. And they perhaps know that under such...

A number game for FY 15 budget

A number game for FY 15 budget

ACCORDING to media reports the finance minister has indicated that the size of FY 15 budget is going to be Tk. 2,50,000 crore. In a country like Bangladesh, characterised by one of the lowest government expenditure as proportion of gross domestic product (GDP), the desire to increase it is understandable. However, such desire...

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