7.5pc growth rate can make Bangladesh mid-income

Bangladesh will become a middle-income country by 2016 if the country can maintain a 7.5 percent economic growth per year throughout the period, observed an economist of World Bank (WB).
"Bangladesh is becoming a middle income country (MIC) by 2016, provided it can attain and sustain a growth of 7.5 percent yearly throughout the period," said Sandeep Mahajan, a WB economist, referring to a study conducted by donor bank.
He was speaking on the topic -- Can Bangladesh become a middle income country by 2016? -- at Independent University, Bangladesh in Dhaka on Sunday. Prof Bazlul Mobin Chowdhury, vice chancellor of the university, and Prof Omar Rahman, pro-vice chancellor, among others, were present at the discussion.
Mahajan suggested manufacture-led growth for Bangladesh, urging that despite maximum inputs agricultural production can attain about 4 percent to 5 percent growth, while the growth in manufacturing sector can reach as high as 14 percent to 15 percent if necessary supports through reforms are available and agricultural productivity is sustained.
He said, “Sustainable growth is not easy and is dependent on reforms”, especially for management efficiency, technology transfer, good governance, employment generation, infrastructural development and supportive legal framework.