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Dhaka wants apology from Pakistan first for strengthening ties Malaysia hints at making recruitment easier Stealing trees from reserve forest Idcol to get €140.5 million from German bank Launch grassroots campaigns to increase number of taxpayers: PM Potato export to Russia to begin this year: Razzaque Coke Studio Bangla season 2 to begin their journey from Feb 14 What are the health risks of breathing Dhaka's air? Sri Lanka may start repaying $200m loan to Bangladesh from Sept: Momen 16 killed in China highway pile-up Service exporters to get forex retention quota facility Fire at DMCH doused in less than half an hour Revisiting Shahbagh’s spirit Bogura-4 by-polls: Hero Alom submits application for vote recount No Covid-19 death in 24hrs, positivity rate 0.34%
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Business

Bangladesh’s poverty declines to 11.9%: World Bank

Star Business Report
Wed Apr 13, 2022 06:11 PM Last update on: Wed Apr 13, 2022 08:14 PM
padma bridge-main
Ongoing construction works of the Padma Bridge, one of the major infrastructural development projects initiated by Bangladesh. Star file photo

The estimated poverty in Bangladesh has declined by 0.6 percent in the 2021 fiscal year, riding on the strong economic recovery amid the Covid-19 pandemic, according to the latest report of the World Bank.

The global lender today revealed the report titled "Bangladesh Development Update – Recovery and Resilience Amid Global Uncertainty".

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"Following a strong economic recovery from the pandemic, estimated poverty declined to 11.9 percent in FY21 from 12.5 percent in FY20, as per the international poverty rate," said Mercy Tembon, World Bank country director for Bangladesh and Bhutan.

Tembon said going forward, close monitoring of inflation and the potential impacts of the war in Ukraine will be important for the country's sustainable and inclusive growth.

The World Bank stands ready to help Bangladesh address structural reforms to support recovery and strengthen resilience to future shocks, she added.

According to the report, Bangladesh has made a strong economic recovery from the Covid-19 pandemic, but growth faces new headwinds as global commodity prices increase amid the uncertainty created by the war in Ukraine.

Related topic
Poverty / below poverty line (BPL) / Bangladesh economy / economic growth in Bangladesh / World Bank (WB)
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