Report: Bangladesh to become 28th most powerful economy in 13 years

[Nilgiri]

You got it all wrong mister. Bangladesh is in 44th position in terms of nominal gdp and this report predicts it ill rise to 28th. In terms of PPP its at 32nd position now and I agree with TopCat that by the time we become 28th in terms of Nominal GDP we'll be in top 20 in PPP.

India is a different story entirely. They are 3rd in terms of PPP and maybe 5-7 in terms of nominal now iirc.

C'mon, he just confused PPP with nominal. No need for a response like this. And everyone knows projection can go wrong.

#notInMyThread

The point is he thinks BD growth is just starting and will continue to increase on a whim just by virtue of it having been behind this long, when he doesn't get you need much better human resource quality improvement.

BD is simply not in the ball game, no amount of debt-based infrastructure spending will truly help in the long term if your people remain under-skilled and under-educated.

 

[Nike]

You got it all wrong mister. Bangladesh is in 44th position in terms of nominal gdp and this report predicts it ill rise to 28th. In terms of PPP its at 32nd position now and I agree with TopCat that by the time we become 28th in terms of Nominal GDP we'll be in top 20 in PPP.

India is a different story entirely. They are 3rd in terms of PPP and maybe 5-7 in terms of nominal now iirc.

C'mon, he just confused PPP with nominal. No need for a response like this. And everyone knows projection can go wrong.

#notInMyThread

as i said before, Sheikh Hasina will not last that long until 2030 unless some of you found some elixir drinks to made her to be youth forever. The stability in politics of Bangladesh in this decade played a major roles to impressive growth of your current economy even when world economy is in slumps, and Hasina playing the biggest parts in this effort.

Everybody know when some strongman/woman left the pictures in untimely manner all of the picture and prediction will not be as rosy as before, you should wary of that facts. Is Bangladeshi people ready to accept that challenges and all the upside and down within? Mass education for the masses will playing the major parts in this process

ah it reminds me of Soeharto and Park Chung Hee all of sudden

 

[Homo Sapiens]

The stability in politics of Bangladesh in this decade played a major roles to impressive growth of your current economy even when world economy is in slumps, and Hasina playing the biggest parts in this effort.

Bangladesh's growth is not because of politics but in spite of that.It is wrong to assume that last decade were stable in BD.In 2007, Army backed caretaker govt. came to power due to severe political crisis,they hold on 2 years.In the last several years we have seen Jamat-e Islami Running amok to stop war crime tribunal,militant islamist killing blogger,religious minority,foreigners,.Boycott of 2014 general election by main opposition party for the demand of non partisan care taker govt.,one sided election,Opposition party's repeated strike,3 months long seize of the country in early 2015,when petrol bomb terrorism killed more than 100 people.Repeated disaster in RMG sector,labor unrest.

It is only now we are seeing a rays of hope.Militants are more or less subdued,main opposition party will take part in 2018 election.A new election commission just formed with prolonged discussion among the major political parties.The most crucial thing is whether this election commission can give a fair election in the next year.

 

[Michael Corleone]

You got it all wrong mister. Bangladesh is in 44th position in terms of nominal gdp and this report predicts it ill rise to 28th. In terms of PPP its at 32nd position now and I agree with TopCat that by the time we become 28th in terms of Nominal GDP we'll be in top 20 in PPP.

India is a different story entirely. They are 3rd in terms of PPP and maybe 5-7 in terms of nominal now iirc.

C'mon, he just confused PPP with nominal. No need for a response like this. And everyone knows projection can go wrong.

#notInMyThread

Oh wow. I wonder how the political climate and what improvements in Human Resources, will be in the next 13 years...

 

[Arthur]

as i said before, Sheikh Hasina will not last that long until 2030 unless some of you found some elixir drinks to made her to be youth forever. The stability in politics of Bangladesh in this decade played a major roles to impressive growth of your current economy even when world economy is in slumps, and Hasina playing the biggest parts in this effort.

Everybody know when some strongman/woman left the pictures in untimely manner all of the picture and prediction will not be as rosy as before, you should wary of that facts. Is Bangladeshi people ready to accept that challenges and all the upside and down within? Mass education for the masses will playing the major parts in this process

ah it reminds me of Soeharto and Park Chung Hee all of sudden

Bangladesh was more or less politically unstable for all of it's history. But despite that it made economic progress.

BD enojyed an overall 6% progress throughout the last decade. During 2001-2006 BNP rule it was 6%-6.5%. BAL was in opposition then,it regularly called strikes & 'hartals' & had caused great public & economic sufferings.

BD 's economic security & progress doesn't comes from it's political leadership rather from it's hardworking people. Whatever happens, it's expat workers aren't going to stop sending $$$$ to the country, workers & job holders will keep going to their works. Political turmoil is a part of our lives & we have learned how to live & work among them.

And don't worry about SHW or BAL. It will keep functioning as always. It's the grassroot level political activists who kept SHW in the Chairman post of BAL, otherwise this year you would have seen new leader as chairman of the party. BAL won't fall apart without SHW, though her family will remain powerful within the party. It can't be said about BNP though. It will fall apart without Zia family.

 

[Mage]

BD is simply not in the ball game, no amount of debt-based infrastructure spending will truly help in the long term if your people remain under-skilled and under-educated.

Yep. Education quality needs massive upgrade also we need various training facilities too. Automation might get popular someday. Without technical skill coping with such situation will be very very tough.

That being said, how do you think Bangladesh economy will fare in the next 13 years? The biggest challenges and how they can be overcome? From a neutral point of view(No bashing please)

s i said before, Sheikh Hasina will not last that long until 2030 unless some of you found some elixir drinks to made her to be youth forever.

83 = Young enough Or maybe we'll line up Ershad Chacha who would be 100 by then. But he is a true champion and a top athlete. He'll have no problem

 

[Nilgiri]

Yep. Education quality needs massive upgrade also we need various training facilities too. Automation might get popular someday. Without technician skill coping with such situation will be very very tough.

That being said, how do you think Bangladesh economy will fare in the next 13 years? The biggest challenges and how they can be overcome? From a neutral point of view(No bashing please)

It will fare ok I think...about 6% real nominal growth year on year given the continued fundamentals. But starting 10 years from now, there will be big problems if there is no massive skilling of the youth to adequate levels in vocational, blue collar work.

 

[TopCat]

83 = Young enough Or maybe we'll line up Ershad Chacha who would be 100 by then. But he is a true champion and a top athlete. He'll have no problem

People still call him Kaku instead of Dadu.

 

[Arthur]

Looking at how many useless qaumi madrassas we have in every corner of the country, it's actually disappointing that BD's society never took the endeavor of eshtablishing skill & technical training centers. Instead of opening useless crap madrassas, society should start & support technical training schools, in all the villages, every corner of the country. That would be a great boost to our skilled workforce.

 

[TopCat]

It will fare ok I think...about 6% real nominal growth year on year given the continued fundamentals. But starting 10 years from now, there will be big problems if there is no massive skilling of the youth to adequate levels in vocational, blue collar work.

Skill does not come out of blue dumb a$$. As economy grows, technology brought in, industry pop up, people get training then skill develops. Too many graduates are getting employed in industrial sectors and there is no shortage of skills.

 

[Mage]

It will fare ok I think...about 6% real nominal growth year on year given the continued fundamentals. But starting 10 years from now, there will be big problems if there is no massive skilling of the youth to adequate levels in vocational, blue collar work.

Hmm.....I don't disagree but I still hope for something better.

Like Khan Saheb said, if only we could transform madrasas into technical training centers

But don't you think as economy grows....like by 6% by your estimation, more people will get educated and more people will be getting training? Your point is valid......but isn't it also true (up to some extent) for every developing nation? And what do you think could be good way to tackle this? Acknowledging the problem is the first step of solution. And I believe our finance minister has stressed the importance to create skilled workforce more than once. So, I believe some steps will be taken in this regard.

 

[Nilgiri]

Skill does not come out of blue dumb a$$. As economy grows, technology brought in, industry pop up, people get training then skill develops. Too many graduates are getting employed in industrial sectors and there is no shortage of skills.

Sorry World Economic Forum does not buy your BBS bullcrap. Its confirmed by the terrible IQ BD stock people have when measured in 3rd party countries and the poverty they live in compared to every other immigrant community.

Something is seriously lacking in your education culturally....till that is fixed, the same old problems will persist...made worse by the endemic corruption.

The word industry and BD dont belong in the same sentence. Your consumption of anything is very meagre basically. Its why you are an LDC. 800/mth capacity CV factory is big news in BD. So sad.

Look at this consumption of vehicles (not even accounting what quality they are):

https://www.brta.gov.bd/images/statistics-bd-sept-16.pdf

Seriously like 1/10th or much much less per capita consumption than India in vehicles. BD managed to buy passenger cars in a whole year, what India buys in 2 days. Thats like 27 times less per capita.

And you talking about "industrial sectors"

But don't you think as economy grows....like by 6% by your estimation, more people will get educated and more people will be getting training? Your point is valid......but isn't it also true (up to some extent) for every developing nation? And what do you think could be good way to tackle this? Acknowledging the problem is the first step of solution. And I believe our finance minister has stressed the importance to create skilled workforce more than once. So, I believe some steps will be taken in this regard.

Lets hope so. The problem lies in that there is so much slack in BD economy still that it can push out 6% for a while longer, providing RMG style low cost jobs....but basically it has to formulate a much better education sector from primary to university for moving to the next stage. The current one is very underfunded at all levels according to most metrics of education quality of kids and youth.

Its a problem across the developing world, but BD for some reason is behind the curve more than its income and overall development would suggest....looking at various industrial sector sizes (Even at this stage), its education and training budget, deep lack of institution capability (according to WEF metrics) and projected future quality of its labor (again by WEF)

You are right it can be addressed over time, but the action needs to start right now.

 

[Gandh brandi]

Economy and Education growth should go hand in hand. Do you know what happenes to highly educated intelligentsia without the economy to back them? Brain drain. Talent flight.

 

[Matirpola]

Economy and Education growth should go hand in hand. Do you know what happenes to highly educated intelligentsia without the economy to back them? Brain drain. Talent flight.

Brain drain is not always bad. Some go and get educated abroad. Later they can apply their advanced field specific knowledge back home (if they return, some do).

 

[Mage]

posted this because......I saw an old thread here on PDF(from 2009 I somehow lost the thread) which was about Bangladesh economy...where the OP predicted(posted an article which said) Bangladesh economy(110 Bn) that time will be around 250Bn in 2017.

And coming to think of it it is indeed near 250bn today. He(that post) predicted the economy to reach 1 trillion by 2030.

I finally found that thread

https://defence.pk/threads/bangladesh-the-best-kept-secret-of-asia.85830/

I could've revived that thread but decided not to do so it's been 7 damn years.

Anyway one can get a bit of an idea how things have changed in those 7 years.
That line tho

Pakistan's installed power capacity is 24,000 MW. But, BD's present capacity is less than 4,000