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

[TopCat]

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

They need projection to roll out 5 years plan. Its not some bull$hit op-ed by real economic tool.

 

[Black_cats]

2nd perspective plan 2021-2041: Extreme poverty to be 0.68%, GDP 9.9%
Ibrahim Hossain Ovi

• Published at 10:50 pm February 25th, 2020

2nd perspective plan 2021-2041Dhaka Tribune


By 2031, it aims to bring down the extreme poverty rate to 2.55%, and increase the GDP growth to 9%

The government has set targets to bring down the extreme poverty rate to 0.68%, and increase the gross domestic product (GDP) growth to 9.9% by 2041.

By 2031, it aims to bring down the extreme poverty rate to 2.55%, and increase the GDP growth to 9%.

The projections incorporated in “Bangladesh’s 2nd Perspective Plan 2021-2041,” was approved on Tuesday. The plan envisages the target to become a developed country by 2041.

Chaired by Prime Minister Sheikh Hasina, the National Economic Council (NEC) approved the country’s second perspective plan to turn Bangladesh as a higher middle-income country by 2031 and a higher income and developed country by 2041.

For graduating the country to higher income status, the government has put emphasis on sustainable electricity and energy, while for rapid and continued growth it also stresses development of roads and transport and infrastructure.

After the meeting, Planning Minister MA Mannan briefed the media on the document for the next 20 years, a pathway to become a developed country. The document is based on four pillars — governance, democratization, decentralization and capacity building.

“The document is framed and approved to alleviate poverty, strengthen good governance further and transform Bangladesh into a modern and world-standard digital country,” said Mannan.

As per the Bangladesh’s 2nd Perspective Plan 2021-2041, the extreme poverty rate in the country was expected to reduce to 2.55% in 2031 from 9.38% in 2020 (base year), while it was expected to come down further to 0.68% in 2041, the minister said.

On the other hand, Mannan said the government set target to attain 9% GDP growth by 2031 while it would further expect to grow at 9.9% in 2041. The base year is 2020.

In the last fiscal year, Bangladesh attained 8.15%, while in the current budget for fiscal year 2019-20, the government set target to attain 8.20% GDP.

According to the second perspective plan, the country’s per capita income on current price would stand at $12,500 by 2041.

In addition, moderate poverty rate is projected to come down to 7% in 2031 and to 3% in 2041.

The plan also set target to reduce the income inequality to 2.80%, 2.75% and 2.70% by 2025, 2031 and 2041 respectively.

To take the advantage of demographic dividend and develop human resource through quality education, the government in the plan set target to provide free education for all aged up to 12 years, 100% literacy, low cost health insurance and treatment facility for all.

Meanwhile, to cope up with the global changes in the information technology, the meeting focused Fourth Industrial Revolution (4IR) and ICT, skills development, while attention has been given to agriculture, rural poverty eradication, education and researches, and tourism infrastructures.

General Economics Division (GED) member of the Planning Commission Dr Shamsul Alam said the Perspective Plan was a historic and dream document for the country as it gave a guideline about what would be the socio-economic position of the country over the next 20 years.

As per the 2nd Perspective Plan, the inflation rate will come down to 4.51% by 2031 and 3.96% by 2041, while the country’s export earnings to increase to $150 billion by 2031 and $300 billion by 2041.

https://www.dhakatribune.com/busine...-2021-2041-extreme-poverty-to-be-0-68-gdp-9-9

 

[Nilgiri]

From where, by selling fishes?
@UKBengali

Watch out, the girl will call you "DUDE, BUTTHURT!!!"

 

[Imran Khan]

well i have said many times in past we dont know what is future and here it is whole world messed up in few months .

 

[Tom-tom]

Instead of coming up with projected growth all the time, maybe a case study needs to be done on regular basis on how to attract more industries to bd. Also to nurture more home grown industries in bd as well.

 

[Bilal9]

This is a typical example on how government wastes money.

If you have observed - the CCP and also all governments have Centralized planning commissions. This is their job, to project the vision as a set of skeleton goals, and then the other divisions of govt. 'flesh it out' by presenting their own visions of the future. Every company and even every family should have these goals and objectives as "vision and mission".

Instead of coming up with projected growth all the time, maybe a case study needs to be done on regular basis on how to attract more industries to bd. Also to nurture more home grown industries in bd as well.

I'm in the know and realize that those are being done. At an intensity more involved than previously. Things should get better.

 

[nang2]

If you have observed - the CCP and also all governments have Centralized planning commissions. This is their job, to project the vision as a set of skeleton goals, and then the other divisions of govt. 'flesh it out' by presenting their own visions of the future. Every company and even every family should have these goals and objectives as "vision and mission".

The difference is the time scale. Give me an example of any company or family has such a "vision and mission" for something 30 years later.

 

[Bilal9]

The difference is the time scale. Give me an example of any company or family has such a "vision and mission" for something 30 years later.

I have known some families that had mission and vision. Rare - but it does exist.

Well laid plans not withstanding, things or events can and do disrupt these plans. Like the Covid-19 thing.

But that does not mean you cannot plan - which is always a good thing.

Planning for families is generally a nebulous affair (son's graduation, daughter's wedding, property succession in case of deaths), while for govts. and companies it needs to be far more detailed. Have you heard of estate planning? It is extremely important in the West, especially for wealthy families. There are certified estate planners and certified financial advisers.

https://www.nicep.org/

https://www.cfp.net/

For every large company in the US, there needs to be a Mission and Vision statement. Here are some from the most iconic US companies.

https://www.lifehack.org/articles/work/20-sample-vision-statement-for-the-new-startup.html

Back in the day, govts. used to do five year plans. Nowadays, they do those, plus ten, twenty, thirty year plans as well. Especially for defence projections. You have to.

 

[bluesky]

Instead of coming up with projected growth all the time, maybe a case study needs to be done on regular basis on how to attract more industries to bd. Also to nurture more home grown industries in bd as well.

Hazrat Hasina is not shown industries when she visits Europe and other developed countries. She sees only roads, highways, expressways and high-rise buildings.

After seeing these and being void of basic knowledge she must have decided that BD vary badly needs all kinds of tall buildings and highways. This is why she has again asked China to give her $6.4 billion credit to build a few more such Empty Vessel projects.

A thoughtful leader would have asked more loans for importing machines to install in the factories. It could have raised the GDP because of production in the factories. Note that BD population is not yet fit to design and manufacture machines by themselves.

https://defence.pk/pdf/threads/bd-seeks-6-4b-chinese-fund-for-new-projects.673631/

 

[Tom-tom]

Hazrat Hasina is not shown industries when she visits Europe and other developed countries. She sees only roads, highways, expressways and high-rise buildings.

After seeing these and being void of basic knowledge she must have decided that BD vary badly needs all kinds of tall buildings and highways. This is why she has again asked China to give her $6.4 billion credit to build a few more such Empty Vessel projects.

A thoughtful leader would have asked more loans for importing machines to install in the factories. It could have raised the GDP because of production in the factories. Note that BD population is not yet fit to design and manufacture machines by themselves.

https://defence.pk/pdf/threads/bd-seeks-6-4b-chinese-fund-for-new-projects.673631/

No I remember investors stating a few years ago that, the barrier for investing in bd is lack infrastructure to get goods to and between factories.



Another factor was the lack of electrical power.

 

[nang2]

I have known some families that had mission and vision. Rare - but it does exist.

Well laid plans not withstanding, things or events can and do disrupt these plans. Like the Covid-19 thing.

But that does not mean you cannot plan - which is always a good thing.

Planning for families is generally a nebulous affair (son's graduation, daughter's wedding, property succession in case of deaths), while for govts. and companies it needs to be far more detailed. Have you heard of estate planning? It is extremely important in the West, especially for wealthy families. There are certified estate planners and certified financial advisers.

https://www.nicep.org/

https://www.cfp.net/

For every large company in the US, there needs to be a Mission and Vision statement. Here are some from the most iconic US companies.

https://www.lifehack.org/articles/work/20-sample-vision-statement-for-the-new-startup.html

Back in the day, govts. used to do five year plans. Nowadays, they do those, plus ten, twenty, thirty year plans as well. Especially for defence projections. You have to.

Of course, rare cases do exist, much like insane people do exist but rare. We also often to mock those rare cases. In those cases, "mission or vision" is nothing but wishes. Families and companies make their own money. They can wish however they want. Governments are solely supported by people. I am sure it is also rare but do exists that some people give them money to their government so that the latter can make wishes for them.

 

[Black_cats]

Of course, rare cases do exist, much like insane people do exist but rare. We also often to mock those rare cases. In those cases, "mission or vision" is nothing but wishes. Families and companies make their own money. They can wish however they want. Governments are solely supported by people. I am sure it is also rare but do exists that some people give them money to their government so that the latter can make wishes for them.

Without vision you can not go anywhere. Same applies to everyone’s life as well. You need to determine in advance to get admission in a good school, college, universities and take preparation accordingly. After that for job, higher studies, getting married, buying property and car. For all these you need long term plan.

For the case of a country it is much more complex thing. As mentioned above you may not achieve everything as planned but you need to readjust and set a new target. Same goes with future forecast of a country as well.

Bangladesh has 2 vision. Try to modernize the country to some extent and become a trillion dollar economy by around 2030 and become an advanced economy by 2041. Bangladesh may not achieve all but with a target it can go somewhere close to that.

 

[DalalErMaNodi]

Without vision you can not go anywhere. Same applies to everyone’s life as well. You need to determine in advance to get admission in a good school, college, universities and take preparation accordingly. After that for job, higher studies, getting married, buying property and car. For all these you need long term plan.

For the case of a country it is much more complex thing. As mentioned above you may not achieve everything as planned but you need to readjust and set a new target. Same goes with future forecast of a country as well.

Bangladesh has 2 vision. Try to modernize the country to some extent and become a trillion dollar economy by around 2030 and become an advanced economy by 2041. Bangladesh may not achieve all but with a target it can go somewhere close to that.

To have a dream is essential to success, in business it is called planning and it is a very important step towards success and profit.

Similarly to build a nation, a dream is needed; for us this was building a nation for us Bengalis, so we can speak our tongue freely.

Building on this, to move forward and progress as a nation, a goal is needed, national aspiration if you will.

Your goals, define your actions and positive goals lead to positive actions, achieving the goal is in the long term but everyday that you take a step in the right direction is a small victory.

It's about national identity, a dream/a goal envisioned by a group of people bring and binds them together. Working towards a common goal bridges the various divides between people and brings to light to their similarities rather than their differences.

Goals instill national pride, unity and sense of national being and responsibility that is so rare in our nations.


If we need an outlandish and overambitious goal to being our people together, then so be it.

Every step in the right direction, no matter how small is a success.

Reduction and eventual elimination of poverty and hunger is a commendable goal. Each person pulled out of crippling poverty is a success story.

It is harrowing to see people talk about the negatives of such an admirable goal instead of looking at the bright side; the little human victories.

 

[nang2]

Without vision you can not go anywhere. Same applies to everyone’s life as well. You need to determine in advance to get admission in a good school, college, universities and take preparation accordingly. After that for job, higher studies, getting married, buying property and car. For all these you need long term plan.

For the case of a country it is much more complex thing. As mentioned above you may not achieve everything as planned but you need to readjust and set a new target. Same goes with future forecast of a country as well.

Bangladesh has 2 vision. Try to modernize the country to some extent and become a trillion dollar economy by around 2030 and become an advanced economy by 2041. Bangladesh may not achieve all but with a target it can go somewhere close to that.

It always amazes me when people simply twist your words and make them not what they really are. I simply claimed that having such a LONG "vision" is useless and certainly waste of money. You just turn around and say I claimed not to have vision at all.

 

[bluesky]

No I remember investors stating a few years ago that, the barrier for investing in bd is lack infrastructure to get goods to and between factories.

Another factor was the lack of electrical power.

Many people say many things.

- Road infrastructure across the entire BD is a non-issue if factory to port roads are there. By the way, infrastructure does not mean roads always. It may mean also lack of utilities, such as supply of gas, power, running water, sewerage system, telephone/fax lines etc. inside the EPZ.
- About power, BD is now producing more power than its population without purchasing power can consume.

FDI people may shun BD for various other reasons. For example, organizations who call themselves authority may not possess any real authority. So, an would-be investor has to run to this and that office, this and that ministry. And it is usual that the minister has little time to talk. He wants quick money. I am not joking, this is how our Golden Bangladesh govt is seeking FDIs.

Do you think any one will go through all the lengthy process? BD has already become famous among the investors for this kind of inefficiency. Govt people talk many words but are without any concrete meaning. We people love to create networks of many sweet and sour words that result in bitter outcome.