Staff Correspondent: Dhaka, Oct-07,
Leading economists of Standard
Chartered have observed that growth will
be sustained over 7 percent in FY22-26 and this
should drive Bangladesh's GDP up to US$ 500 billion and per capita to
$3,000 by FY26.
Bangladesh remains a compelling
growth story, despite the global pandemic, they opined.
Members of the bank's global
research team were speaking at a media session held today following the 2021
Bangladesh session of the Bank's Global Research Briefing series, said a press
release.
Planning Minister MA Mannan
graced the event as the chief guest, while around 300 of the bank's clients
joined via video conferencing during the virtual event.
In his speech, MA Mannan said,
"The people of Bangladesh, including the government and our business
community, have once again demonstrated our tremendous resilience ensuring that
our shared development journey might have slowed, though it has not been
halted. We remain as committed as ever in
fostering a business-friendly
climate, so that we can continue on our journey of inclusive progress and
prosperity."
Global Head of Research and Chief
Strategist of the Standard Chartered Eric Robertsen said, "While the pace
and distribution of global recovery remains highly uneven, Bangladesh has made
a strong comeback with one of the highest GDP growths in the world in 2020. A
robust vaccination program and
implementation of strategic
infrastructure projects are expected to further increase momentum towards the
nation's LDC graduation".
Standard Chartered Economist for
South Asia Saurav Anand said,
"Bangladesh's economy is set
to accelerate after a speed bump, with GDP growth forecast at 5.5 percent in
FY21 and 7.2 percent in FY22. The momentum will be driven by an export demand
recovery, strong remittance inflows and public investment. Policy support is a
prerequisite for a smooth transition to middle-income status, with per capita
GDP set to reach $3,000 by FY26."
Chief Executive Officer of the
Standard Chartered Bangladesh Naser Ezaz Bijoy said, "The government of
Bangladesh has navigated the internal and external challenges of the pandemic
remarkably well. The resilience of Bangladesh economy gives us cause for
optimism. As the vaccination drive continues, the economy is set to accelerate,
while lower debt levels compared to its peers provide medium term fiscal runway
for growth.
There are significant
opportunities for productivity gains through technology adoption, technology
inclusiveness through mobile-based solutions and the ITES sector, while
growth-supportive policies focus sectors will continue to spur private
investment and FDI."
End/Dct/Nat/Sma/
