B’desh ahead of India, Pakistan in RMG export, minister tells parliament

[idune]

It is already doing around this level and predicted by most organisations into the future.

Do not let your hatred of Awami League stop you from seeing the progress that is being made, even though little of it is due to the party in power.

Yes, the economy should be doing better but that is the situation that BD is in with the two party's for the last 20 years - AL/BAL.

Instead of paddling awami league garbage look at macro level conditions like deficit, financial capabilities, infrastructure and then provide supporting evidence for 7% growth level. No matter who comes to power without fixing these base level foundation, economy can not pick up beyond 5-6% (even less) level growth. For example we have seen business man wants to set up new industry can not get bank loan, can not open LC and can not get gas or electricity. Now even electricity and gas prices increased 4-6 folds eaten away Bangladesh competitiveness in global context. We all like to see progress but unlike you and few others here who like to paddle Awami deception, we are being pragmatic to see what is the problem and what need to be done to achieve higher growth level. Again provide specific proof for support Awami League minister growth projection rather than simply paddling his claim.

 

[UKBengali]

@Loki - Nothing like India's for sure but surpassing 1 billion in IT exports by the end of the decade is realistic.

India's IT exports are in the tens of billions.

7% is what is being predicted for most of the rest of the decade.

Remember current economic growth is being hindered by a severe recession in Europe so expecting BD economy to accelerate to the 7% mark soon is not really too optimistic.

 

[UKBengali]

Instead of paddling awami league garbage look at macro level conditions like deficit, financial capabilities, infrastructure and then provide supporting evidence for 7% growth level. No matter who comes to power without fixing these base level foundation, economy can not pick up beyond 5-6% (even less) level growth. For example we have seen business man wants to set up new industry can not get bank loan, can not open LC and can not get gas or electricity. Now even electricity and gas prices increased 4-6 folds eaten away Bangladesh competitiveness in global context. We all like to see progress but unlike you and few others here who like to paddle Awami deception, we are being pragmatic to see what is the problem and what need to be done to achieve higher growth level. Again provide specific proof for support Awami League minister growth projection rather than simply paddling his claim.

The growth in the last 2 years is already averaging 6.5%.

This is only 0.5% below the 7% level anyways.

If you want to argue whether 7% is possible then please argue with organisations like IMF and not myself as they have made this prediction already.

Who is peddling Awami League propaganda as they predict that the economy will grow at 8% a year by 2014 and accelerate to 10% a year by 2021

 

[karan21]

India's IT exports are in the tens of billions.

It crossed 100 billion this year

 

[idune]

@Loki
Remember current economic growth is being hindered by a severe recession in Europe so expecting BD economy to accelerate to the 7% mark soon is not really too optimistic.

That is sheer BS. Downturn in US and EU economy is NOT the sole reason why Bangladesh growth suffered. Fact that Bangladesh export growth continued even with US/UK downturn but GDP growth suffered indicate different story. Lack of fund, infrastructure, gas electricity, capital market collapse etc eroded fundamental capabilities even sustaining growth level, let alone expand it. For example, lack of gas and electricity pushed construction and real estate which accounts for 15-20% GDP contribution, in standstill condition.

 

[Zabaniyah]

@Loki - Nothing like India's for sure but surpassing 1 billion in IT exports by the end of the decade is realistic.

India's IT exports are in the tens of billions.

7% is what is being predicted for most of the rest of the decade.

Remember current economic growth is being hindered by a severe recession in Europe so expecting BD economy to accelerate to the 7% mark soon is not really too optimistic.

It is possible in the future.

After this government gone It is due to Hasina's policies that both consumer and business spending are being hampered. There's a liquidity crisis.

And I do not see any credibility in this government based on their intentions.

Growth is now lower than last year.

 

[livingdead]

Congrats to bangladesh. There are a lot of things we should learn from you guys.

 

[idune]

Who is peddling Awami League propaganda as they predict that the economy will grow at 8% a year by 2014 and accelerate to 10% a year by 2021

First you paddle awami league deception of growth story when they could not even deliver in past years and in current condition. When your bs is challenged you try to hide behind IMF prediction. That is epic. Now bring out those IMF predictions and lets see what exactly they have said. IMF is not that stupid they normally set out their expectation based on specific macro/fiscal condition.

 

[UKBengali]

First you paddle awami league deception of growth story when they could not even deliver in past years and in current condition. When your bs is challenged you try to hide behind IMF prediction. That is epic. Now bring out those IMF predictions and lets see what exactly they have said. IMF is not that stupid they normally set out their expectation based on specific macro/fiscal condition.

Here you go:

Report for Selected Countries and Subjects

IMF predicts that growth will be above 7% every year from 2015-2017.

 

[UKBengali]

Edit - Double Post

 

[mb444]

Comparison to India and Pakistan will always be there due to our shared history. It is not a competition as such but barometer of success is better understood when one compares oneself to our neighbours. We can try and compare ourselves to African or developed countries but it would make no sense to the casual Bangladeshi reader.

Additionally we are playing catchup with India and Pakistan given the total devastation of 1971 and starting from zero industrial base. Catching up to India Pakistan to us would be like coming up to the norm of the neighbourhood, an easily conceptualised goal though not necessarily easily achievable. We are trying to develop as quickly as possible as we have had to overcome more hurdles than India or Pakistan.

 

[Hammer-fist]

1. Sri Lanka has the potential to become the first fully developed South Asian nation.

We wish them well in this attempt.

2. Bangladesh has higher development indexes than both poverty-stricken India and heavily feudal Pakistan and we need to continue.

3. We should hopefully soon (decade or two) stop comparing ourselves with poverty-stricken and terrorism-infested states (Maoists, Taliban) to our west and compare ourselves with more respectable nations like:

Thailand - Vietnam - Indonesia etc i.e. ASEAN states.

 

[killerx]

mod close this thread troll thread

 

[clmeta]

Congrats Bangladesh, keep up the good work.
This could be the best chance to check illegal migration.
In fact with further economic progress, many illegal migrants may move back. Its going to be a boon.
Also, India can learn a lesson or two from Bangladesh in fighting poverty. Good work Awami league.

 

[Shinigami]

2. Bangladesh has higher development indexes than both poverty-stricken India and heavily feudal Pakistan and we need to continue.
3. We should hopefully soon (decade or two) stop comparing ourselves with poverty-stricken and terrorism-infested states (Maoists, Taliban) to our west

stop the illegal immigration from BD and most of india's poverty problem will be solved. i hope you realize that BD can never achieve in its lifetime what india achieved in the last 5 years. Try to overtake pakistan first before thinking big