Bangladesh’s GDP per capita projected $12,500 by 2041

[Black_cats]

Bangladesh’s GDP per capita projected $12,500 by 2041
Staff Correspondent . Dhaka | Update: 18:47, Feb 25, 2020

https://en.prothomalo.com/economy/news/209908/Bangladesh’s-GDP-per-capita-projected-12-500-by

Bangladesh’s per capita income has been projected USD 12,500 by 2041.

This was predicted in a report titled Bangladesh's Second Perspective Plan 2021-41 prepared by the General Economics Division (GED) of the Planning Division. The report will be presented at a meeting of the Cabinet Division. That will be presided over by prime minister Sheikh Hasina.

It also forecasted that the poverty rate will drop down to zero and Gross Domestic Product (GDP) growth will climb to 9.9 per cent by then.

As per GED prescription, this new mega plan relies on four pillars – good governance, democracy, decentralisation and skill development.

GED member Shamsul Alam told Prothom Alo as saying “This is actually the blueprint of Bangladesh’s development. The details plans on how will it be implemented will presented in five-yearly plan.”

The amount of money required for implementation of plan will also be explained in the five-yearly plan, he added.

The report reads that Bangladesh will transform into a developed nation by 2041. As per today’s market values, the per capita will go up to $12,500. Bangladesh’s current per capita is $1909.

The extreme poverty will be alleviated by 2030.

At present, total investment in Bangladesh stands 32.76 per cent of the total GDP. By 2030, it will scale up to 40.60 per cent and 46.88 per cent by 2041.

The report also stated that current revenue earning is 10.47 per cent of the current GDP. This will rise to 19.06 by 2030 and 24.15 by 2041.

The report also presumes that by 2041, country’s population will increase to 210 million and people’s life expectancy will be 80 an average. The population growth will be drawn down to below 1 per cent.

But, it added, scarcity of investment to skill up the poor pollution will be a big challenge. That will require additional funds. To alleviate the poverty, programmes to eradicate illiteracy rate completely, to offer free education up to 12, cheap medical services and health insurance for all will be taken up.

 

[nang2]

This is a typical example on how government wastes money.

 

[fallstuff]

This kind of nonsense need to stop. The projection can go wrong in 1000 ways from now and between 2041.

 

[Abu Shaleh Rumi]

"If" nothing goes wrong.

And only thing I care is poverty reduction. We have a long way to go...

 

[Indos]

The most difficult one is to improve industry complexity index in order to become advance country. Without doing that it is impossible to reach that status. Indonesia is also working hard to get their industry produces more complex goods. One of the thing that we do for that is starting to ban our raw material export. Our nickle ore export has been banned since the beginning of this year and other minerals will be targeted in 2022.

Other thing that we do to increase the industry complexity is to improve investment climate by making pro business regulation and building infrastructure massively across the nation so that we can attract multinational manufacturing company to make our nation as one of their manufacturing base just like how Toyota is doing in Indonesia.

 

[mmr]

Lol good fantasy.

 

[Nike]

The most difficult one is to improve industry complexity index in order to become advance country. Without doing that it is impossible to reach that status. Indonesia is also working hard to get their industry produces more complex goods. One of the thing that we do for that is starting to ban our raw material export. Our nickle ore export has been banned since the beginning of this year and other minerals will be targeted in 2022.

Other thing that we do to increase the industry complexity is to improve investment climate by making pro business regulation and building infrastructure massively across the nation so that we can attract multinational manufacturing company to make our nation as one of their manufacturing base just like how Toyota is doing in Indonesia.

Creativity is a key, either in soft skills or manufacturing all is important. As an example Manga industry in Japan is multi billion industry, able to absorb thousands of talented youths into the workforce. K pop industry in Korea is multi billion us dollar industry right now, and the thing is started with creativity at hands. To ensure such creativity to thrive is one country need to uphold their patents and intellectual rights and banned piracy practices. Even China is trying to uphold more and more intellectual rights so their creative industry and researcher can keep their works and generate more vallue.

 

[Khan_21]

When are you improving your ranking in corruption? You guys are stuck in the same position. I dont see any difference on the ground. Your cities are in shambles and Dhaka still gets voted as the worst mega city in the world. Where does all this so called 8 % growth go?

 

[Nilgiri]

When are you improving your ranking in corruption? You guys are stuck in the same position. I dont see any difference on the ground. Your cities are in shambles and Dhaka still gets voted as the worst mega city in the world. Where does all this so called 8 % growth go?

Plot twist (but not really): The "8%" comes from the corruption....thus doesn't really go anywhere

 

[peagle]

Bangladesh’s GDP per capita projected $12,500 by 2041
Staff Correspondent . Dhaka | Update: 18:47, Feb 25, 2020

https://en.prothomalo.com/economy/news/209908/Bangladesh’s-GDP-per-capita-projected-12-500-by

Bangladesh’s per capita income has been projected USD 12,500 by 2041.

This was predicted in a report titled Bangladesh's Second Perspective Plan 2021-41 prepared by the General Economics Division (GED) of the Planning Division. The report will be presented at a meeting of the Cabinet Division. That will be presided over by prime minister Sheikh Hasina.

It also forecasted that the poverty rate will drop down to zero and Gross Domestic Product (GDP) growth will climb to 9.9 per cent by then.

As per GED prescription, this new mega plan relies on four pillars – good governance, democracy, decentralisation and skill development.

GED member Shamsul Alam told Prothom Alo as saying “This is actually the blueprint of Bangladesh’s development. The details plans on how will it be implemented will presented in five-yearly plan.”

The amount of money required for implementation of plan will also be explained in the five-yearly plan, he added.

The report reads that Bangladesh will transform into a developed nation by 2041. As per today’s market values, the per capita will go up to $12,500. Bangladesh’s current per capita is $1909.

The extreme poverty will be alleviated by 2030.

At present, total investment in Bangladesh stands 32.76 per cent of the total GDP. By 2030, it will scale up to 40.60 per cent and 46.88 per cent by 2041.

The report also stated that current revenue earning is 10.47 per cent of the current GDP. This will rise to 19.06 by 2030 and 24.15 by 2041.

The report also presumes that by 2041, country’s population will increase to 210 million and people’s life expectancy will be 80 an average. The population growth will be drawn down to below 1 per cent.

But, it added, scarcity of investment to skill up the poor pollution will be a big challenge. That will require additional funds. To alleviate the poverty, programmes to eradicate illiteracy rate completely, to offer free education up to 12, cheap medical services and health insurance for all will be taken up.

As a person of Pakistani origin, who still considers you as my brothers, I am very happy for you guys. Keep doing well.

 

[UKBengali]

When are you improving your ranking in corruption? You guys are stuck in the same position. I dont see any difference on the ground. Your cities are in shambles and Dhaka still gets voted as the worst mega city in the world. Where does all this so called 8 % growth go?

Please feel free to criticise the long-term projection as it could be right, optimistic or even pessimistic but the evidence of 8% growth is solid - infrastructure, real wage increase, electricity consumption, exports etc.

As explained to you multiple times previously, it is all because of a concept called "accumulated wealth" and it will take till 2030-2035 when all the infrastructure has been put into BD and living standards have risen enough to see the 6%+ growth that has happened in BD since the year 2000.

Your butt-hurt won't stop BD's progress and so best to accept it and move on.

 

[Homo Sapiens]

Bangladesh's Second Perspective Plan 2021-41 prepared by the General Economics Division (GED) of the Planning Division. The report will be presented at a meeting of the Cabinet Division. That will be presided over by prime minister Sheikh Hasina.

As per GED prescription, this new mega plan relies on four pillars – good governance, democracy, decentralisation and skill development.

I do not care whether per capita GDP will became 12,500 dollar or not in 2041. What is encouraging is that, they are creating a detailed blueprint of economic development strategy for the next two decades. It is much, much better than no plan at all and running economy like day to day living. It is about being proactive, to take control of it's journey rather than to depends on the wind.

 

[VikingRaider]

Lol good fantasy.

Not sure if the dream comes true or not, but for development you need visionary leadership and currently Bangladesh have this. BTW about industrialization what if Bangladesh once start produce arm and sale it to African countries ? There are many other possibilities and ways for Bangladesh, we just have to remain United and try harder! Maybe 12500 dollar too much expectation, but I will be happy if it is 7000 - 8000 usd!

And of course @UKBengali doesn't like the idea of making fighter plane, but Hasina has this dream!

So in future it can be our big business, just we shouldn't underestimate ourselves!

Ps: I am not saying that we will export arms by this time (2041 goal) but, it should be future plan. And since arms will be made under military supervision, so this sector will be corruption free and that will benefit Bangladesh a lot.

 

[mmr]

Not sure if the dream comes true or not, but for development you need visionary leadership and currently Bangladesh have this. BTW about industrialization what if Bangladesh once start produce arm and sale it to African countries ? There are many other possibilities and ways for Bangladesh, we just have to remain United and try harder! Maybe 12500 dollar too much expectation, but I will be happy if it is 7000 - 8000 usd!

And of course @UKBengali don't like the idea of making fighter plane, but Hasina has this dream!

So in future it can be our big business, just we shouldn't underestimate ourselves!

Ps: I am not saying that we will import arms by this time (2041 goal) but, it should be future plan. And since arms will be made under military supervision, so this sector will be corruption free and that will benefit Bangladesh a lot.

2041 too far. We should first achieve all the SDG goals by 2030. Diversify....complete all mega project....prepare for post LDC tariff regime.

 

[Bilal9]

Please feel free to criticise the long-term projection as it could be right, optimistic or even pessimistic but the evidence of 8% growth is solid - infrastructure, real wage increase, electricity consumption, exports etc.

As explained to you multiple times previously, it is all because of a concept called "accumulated wealth" and it will take till 2030-2035 when all the infrastructure has been put into BD and living standards have risen enough to see the 6%+ growth that has happened in BD since the year 2000.

Your butt-hurt won't stop BD's progress and so best to accept it and move on.

My point is that whether we achieve these goals by 2041 is not important.

What is important is that,

1. We have set this goal (as projection) and
2. are formulating plans (and interim milestones) to achieve said goals.

I will be damn happy even if we reach $10,000 per capita...