Tuesday, December 24, 2024
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Questionable BBS GDP Statistics

Finally, some good news on this front:

IMF satisfied with progress of BBS’ GDP and inflation data updated under new method​


A delegation of the International Monetary Fund (IMF) has been satisfied with the progress of implementing the terms given to the Bangladesh Bureau of Statistics (BBS).

The IMF team expressed this satisfaction in a meeting with the BBS held on Tuesday at the BBS office in Agargaon, Dhaka.

In the meeting, the IMF wants to know the updated data on inflation (Consumer Price Index), GDP (Gross Domestic Product), and quarterly GDP data under a new method.

The BBS informed the IMF about these issues during the meeting. The IMF delegation also sought consistent data on Bangladesh's growth in the last 50 years since independence, sources said.

BBS DG Motiar Rahman told UNB that the IMF wanted to know the progress of moving to a new method of inflation.

"The way we calculate inflation is no longer done this way; it is changing. Around 95 per cent of countries measure inflation using the IMF's Mixed Method; Bangladesh will follow the new method," he said.

In the new price inflation, food items will be 263 instead of 153. The number of products is 720. They (IMF team) expressed satisfaction after learning about the progress of the matters, the BBS DG said.

Almost every country in the world publishes their GDP figures on a quarterly basis. Bangladesh does it once a year. There are also examples in the country of it taking one and a half to two years to reveal the real GDP if it is on the downward side. Again, the work that BBS is supposed to do is often done by the Ministry of Finance.

Regarding the quarterly GDP, Mr Motiar said that the government will publish the data on GDP four times a year. But it will start in the 2024 calendar year. The work on the data has progressed, he said.

 
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I think BBS will stop publishing the reserve and GDP data for a while.

Enthusiasm for that activity will be - shall we say, somewhat diminished ? HMMMMM ?? :sarcastic:
 
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Finally, some good news on this front:

IMF satisfied with progress of BBS’ GDP and inflation data updated under new method​


A delegation of the International Monetary Fund (IMF) has been satisfied with the progress of implementing the terms given to the Bangladesh Bureau of Statistics (BBS).

The IMF team expressed this satisfaction in a meeting with the BBS held on Tuesday at the BBS office in Agargaon, Dhaka.

In the meeting, the IMF wants to know the updated data on inflation (Consumer Price Index), GDP (Gross Domestic Product), and quarterly GDP data under a new method.

The BBS informed the IMF about these issues during the meeting. The IMF delegation also sought consistent data on Bangladesh's growth in the last 50 years since independence, sources said.

BBS DG Motiar Rahman told UNB that the IMF wanted to know the progress of moving to a new method of inflation.

"The way we calculate inflation is no longer done this way; it is changing. Around 95 per cent of countries measure inflation using the IMF's Mixed Method; Bangladesh will follow the new method," he said.

In the new price inflation, food items will be 263 instead of 153. The number of products is 720. They (IMF team) expressed satisfaction after learning about the progress of the matters, the BBS DG said.

Almost every country in the world publishes their GDP figures on a quarterly basis. Bangladesh does it once a year. There are also examples in the country of it taking one and a half to two years to reveal the real GDP if it is on the downward side. Again, the work that BBS is supposed to do is often done by the Ministry of Finance.

Regarding the quarterly GDP, Mr Motiar said that the government will publish the data on GDP four times a year. But it will start in the 2024 calendar year. The work on the data has progressed, he said.


Is there any official statement from IMF? Cannot trust BBS or any news that comes through BD news outlets.
 
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Is there any official statement from IMF? Cannot trust BBS or any news that comes through BD news outlets.

Not this early - maybe down the line. Inspection of BBS dhappabajee and scale of it will take a while..... :-)
 
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Any good reason why BBS has contracted BD's population in it's estimates for this year, if not to shamelessly fudge PCI?


View attachment 930273
Population figure upto 2021-2022 were extrapolation from previous census of 2011. 2022-2023 figure reflected the new census taken in 2022. It means that extrapolation from previous census was slightly above the real population growth rate. This is understandable as population growth rate is decreasing every year. This is even stated in the 'Note:' sentence below the chart you have posted here.

You would be dickhead to assume that, reducing population by half a million would make any substantial difference in per capita GDP and GNI when total population is over 170 million.
 
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