State of the Bangladesh Economy in FY2023-24 (First Reading)
Independent Review of
RBD
Bangladesh's Development
Conclusions
As Bangladesh prepares to welcome 2024, economic issues ought to continue to engage the
attention of policymakers
☐ The economy is going through unprecedented challenges, and these are not going to recede
to the backfront even after the national elections scheduled to be held on 7 January 2024
The key task confronting the policymakers is to restore macroeconomic stability by taking
into cognisance the current economic realities and identifying concrete measures to address these
➤ The policymakers have to come out of the obsession with GDP growth and look at the underlying
factors that led to an impressively functioning economy falling into this macroeconomic conundrum
Even though the economy was facing strong headwinds towards the end of FY23, the government
had projected a 7.5% GDP growth for FY24
➤ Various international organisations have downgraded Bangladesh's GDP growth in FY24, as
they have done for many other countries (IMF: 6.0%; World Bank: 5.6%)
➤ The government should revisit its GDP growth target in view of the emergent scenario
➤ Without a realistic projection backed by authentic data, policymakers cannot assess the
economic situation and craft appropriate policies
CPD (2023): State of the Bangladesh Economy in FY2023-24 (First Reading)
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