• Wednesday, March 04, 2015

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Economic Growth

Japan comes out of recession but growth still disappoints

Japan comes out of recession but growth still disappoints

Japan came out of recession in the fourth quarter of last year, but the world's third largest economy grew at a slower than expected pace. The economy expanded by an annualised 2.2 percent in the three months to December in a preliminary reading, compared to forecasts for a 3.7 percent increase. Japan's growth in the...

Turmoil may lower credit rating: Moody's

Turmoil may lower credit rating: Moody's

The dragging political turmoil and its negative impact on exports, investment and economic growth will most definitely weigh down Bangladesh's credit outlook, the leading ratings agency Moody's said yesterday. At present, Moody's rating for Bangladesh is a stable Ba3. The renewed political tensions are “credit negative” for Bangladesh because it is weighing on export performance, investment activity and headline growth, the ratings agency said in its most recent credit outlook. Moody's mentioned that political tensions have historically flared up in the run-up to elections, marked by frequent street protests that receded afterwards and thus had a limited effect on economic activity. “This time, however, protests have been marred by violent outbreaks, and have...

CROSS TALK

When income inequality hurts economic growth

BAD news for the advocates of spasmodic growth, an economy doesn't work like an inflated balloon. Pumping air stretches the balloon uniformly, but that's not exactly how prosperity gets distributed across the population in a country. This is the finding of Paris-based Organization of Economic Cooperation and Development. Its new study reveals that income inequality hurts economic growth. That's why making many people rich doesn't diminish poverty. Instead it promotes polarisation and concentration of wealth. Big businesses are built, luxuries...

The myth of self-reliant Bangladesh

SINCE independence in 1971, many economic growth oriented development models in Bangladesh, which create both gross and net happiness for the elite, have not yet brought happiness for the broad majority. That is why it seems necessary to build a self-reliant social development model for Bangladesh. Self-reliant development must be measured and indicated on the basis of social proficiency and happiness, not only on economic efficiency and productivity.    Among the prerequisites and aspects and prospects of development, population and...

LDCs must focus on higher productivity

LDCs must focus on higher productivity

Least-developed countries like Bangladesh will have to focus on structural transformation and human development to achieve the sustainable development goals in the post-2015 period, said an UN report. The countries need to go beyond economic growth to complete a virtuous circle of sustainable economic and human development, said the Least Developed Countries Report 2014...

G20 leaders make global growth pledge

G20 leaders make global growth pledge

Australian Prime Minister Tony Abbott has closed the G20 summit by detailing economic pledges agreed by world leaders. The leaders agreed to boost their economies by at least 2.1% by 2018, adding $2 trillion to global economies. Much of the summit focused on Russian President Vladimir Putin's position on the crisis in Ukraine. Putin faced fierce...

Better roads, sufficient energy to propel growth: ICCB

The government must prioritise the development of road networks and other infrastructure for higher economic growth, a leading international chamber said yesterday. “Proper infrastructure is a must to accelerate higher GDP growth. Good roads, power supply and sufficient energy sources generally lure investments,” said Mahbubur Rahman, president of International Chamber of Commerce Bangladesh. The country will have to invest $7-$10 billion by 2020 in infrastructure development, while maintaining political stability, to achieve higher economic growth, Rahman said at a briefing...

Exclusive to The Daily Star
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...

ADB lifts economic growth forecast for Bangladesh

ADB lifts economic growth forecast for Bangladesh

The Asian Development Bank has revised upwards its economic growth forecast for Bangladesh -- to 6.4 percent from 6.2 percent -- for the current fiscal year. The latest projection is still much lower than the government's 7.3 percent target. All major economic indicators of Bangladesh have been showing a sign of improvement for the past...

Next development plan targets growth, empowering citizens

Next development plan targets growth, empowering citizens

The next five-year plan aims to boost economic growth and empower citizens as part of the government's long-term vision of eliminating poverty and making Bangladesh a middle-income country. The theme -- Accelerating Growth: Empowering Every Citizen -- will be the cornerstone of the Seventh Five-Year Plan, said Prof Shamsul Alam, member of general economics division of the planning commission and key planner of the development strategy. "We will pay utmost attention to taking the GDP growth higher than the level achieved in the sixth plan and efforts will be made to improve income distribution." The economist, who prepared the Sixth Five-Year Plan, presented an outline of the upcoming plan for 2016-2020 at...

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