Benefits will outweigh losses after graduation from LDC: finance minister

Finance Minister AHM Mustafa Kamal today said that there will be more benefits than losses if Bangladesh graduates to a developing country from a least developed one.

"I think we will gain much more than we will lose," he said in reply to a reporter's question during a virtual briefing after a meeting of the Cabinet Committee on Economic Affairs.

Many people said exports would fall by four to five billion dollars, but that was not the case, he said.

As an example, he said, "If we lose export of 100 million dollars, 75 million dollars of that is [foreign] input. As a result, we will lose 25 million dollars."

Due to graduation from the least developed country (LDC) category, the previous problems will not exist and there will be many opportunities, the minister said, adding that all sides including the economy will be benefitted by this.

He said currently foreigners are apprehensive of investing in Bangladesh, but that will be resolved once Bangladesh graduates from the LDC category.

The country's economy will gradually become stronger after graduation, the finance minister said.