Bangladesh Budget for fiscal 2011-2012, GDP and Defence spendiing

[eastwatch]

You people are not considering the fact that total gdp of the country is directly related to the population. With the population we have (160m +) all we gotta do is take our per capita nominal gdp to $6000. I dont think we'll need to wait till 2050 for that.

I think, you are making a little mistake. A total GDP has nothing to do with the total population. It all depends upon the economic activities of the population of the country, its availability of resources, its production base, be it agriculture or its industries, its access to market, domestic or international etc. Today's BD does not have even a manufacturing base to produce the SEWING MACHINES that churn out billions of dollars worth of RMG.

Bangladesh is not an industrially developed country. It should not expect a $1 trillion economy just by exporting RMGs and a few small ships. When BD is still thinking how to organize building 30,000 DWT ships, countries like Japan and South Korea already produce 500,000 DWT ocean-going ships. The country does not even have also an integrated steel Mill. We have a long and long way to go.

India is more than a trillion dollar economy because it has many manufacturing facilities. For example, the Palatala Power Station in Tripura. Indians are producing all those big machines by themselves and are then shipping those through BD.

Indian companies are planning to establish two coal-fired power plants in Khulna. But India itself will build most of the machineries. Can BD produce even a sewing machine needle in the country? So, there is a big difference between India and BD. India is far ahead of us.

Anyway, we will have to produce many value added goods to take our economy to a trillion dollar.

 

[eastwatch]

For doubling the GDP, an economy should grow by 12% for 5% yrs.
and you are dreaming 10 times the GDP in next 10yrs..with your 6% growth rate!!??

I think, for doubling the GDP, an economy should grow by 12% for 6 years, not 5 years.

 

[Zabaniyah]

Bangladesh has a long way to be industrially self-sufficient, and pretty much being self-sufficient in anything.

The one thing that Bangladesh needs to address is the freaking population! It is way over-populated. If population keeps increasing, then all the economic growth won't mean too much. What's more, much of the population are unskilled.

SMEs also play an important role in any developing economy.

 

[InFn-0]

China's economy went from $1.198 trillion in 2000 to $5.985 trillion in 2009 with around 10% average growth rate. If it grew by 10% then in 2009 the GDP should have been $2.824 trillion. Please explain this.

 

[Zabaniyah]

China's economy went from $1.198 trillion in 2000 to $5.985 trillion in 2009 with around 10% average growth rate. If it grew by 10% then in 2009 the GDP should have been $2.824 trillion. Please explain this.

That's mainly because China is a large country and has a powerful manufacturing base producing a huge variety of products. Whereas Bangladesh doesn't.

 

[cybertron]

It would require 8% growth per year. More realistic if we use the present 6% growth as a basis then more likely 15 years. But I don't see why the the BD economy should not take off.

Did you stop taking maths classes after 2nd grade.
Bangladesh would need atleast 20% growth to reach $1 trillion economy within 10 years.

 

[cybertron]

That's mainly because China is a large country and has a powerful manufacturing base producing a huge variety of products. Whereas Bangladesh doesn't.

And they have hell lot of land to set up their industries too and i dont think bd or india can reach their amount of administrative efficience soon.
We are a bit constrained by our democratic (slow,corrupt) setup.

 

[I FLY HIGH]

You are right. Inflation is in double digits but this indicates a fast expanding economy.

I think you are right , when economies take off , the problem of inflation is a by product , But need to have a consistent pace in growth is the key. I congraduate b.d brothers on this success and wish them good luck.

 

[cybertron]

China's economy went from $1.198 trillion in 2000 to $5.985 trillion in 2009 with around 10% average growth rate. If it grew by 10% then in 2009 the GDP should have been $2.824 trillion. Please explain this.

thats bcoz we cannot use average % growth rate to calculate the final amount.
The growth rate was much higher than 10% at the latter part of the decade.

 

[cybertron]

Now i dont understand the problem with many fellow bangladeshi's in this forum. Sheikh Hasina and her govt. has brought so much to the table and are almost at the verge of changing the whole face of BD and even then many of them shamelessly critisize her for everything she does.
How can anyone justify such hipocrisy.

 

[eastwatch]

Now i dont understand the problem with many fellow bangladeshi's in this forum. Sheikh Hasina and her govt. has brought so much to the table and are almost at the verge of changing the whole face of BD and even then many of them shamelessly critisize her for everything she does.
How can anyone justify such hipocrisy.

Do not start politics here. There is no contribution by SH and AL. It is our industrialists and labours who are doing the job. What is your idea, SH and AL leaders are working days and nigts in the fields and factories?

 

[monitor]

I think already our GDP is under estimated because a large part of the service sector is left out. I read that in the Financial Express recently. Think about it a plot in Motijheel is worth the same as a plot of land in downtown Tokyo right now. Apartments are selling at 2000Sq ft for around 3-4 crore. Even 5 years ago that would have been crazy. Similarly the GDP only calculates the white economy. With the black economy included the figure actually doubles.

Black money not suppose to include in the gdp figure directly i think but of course black money as a implication to survice sector . like the aapprment who are buying with 2~3 crors where the money comes from . recently some one talking that in his company a Oc of one Thana has brought a flate fo 40 lak tk cash .how can a OC afford to pay such amount all are ill gotten money but just imagine if this kind of money are not being use no apartment would sold in high price and no body would like to invest in this sector as price and ultimately profit margin would decline .

 

[cybertron]

Do not start politics here. There is no contribution by SH and AL. It is our industrialists and labours who are doing the job. What is your idea, SH and AL leaders are working days and nigts in the fields and factories?

ohhhh commonn.
do you think farmers and labourers sweating their blood round the clock would make all the change?? pure ignorance to say the least.
Without right government policies no country can excel in the way bd or india has done for the past few years.

 

[InFn-0]

ohhhh commonn.
do you think farmers and labourers sweating their blood round the clock would make all the change?? pure ignorance to say the least.
Without right government policies no country can excel in the way bd or india has done for the past few years.

What eastwatch is saying is absolutely true. Whatever progress we have made is because of the businessmen and the workers. Government had nothing to do with it, not AL atleast.

 

[saleen_s7]

What eastwatch is saying is absolutely true. Whatever progress we have made is because of the businessmen and the workers. Government had nothing to do with it, not AL atleast.

Matter of fact, its awami league who slowed down the potential growth.