Economy jumps 14 steps up

Bangladesh economy has secured 44th position globally jumping 14 steps ahead as per the current prices of Gross Domestic Product (GDP) buoyed by the healthy and persistent growth in the last few years.

In 2015, the size of country’s GDP expanded to US$ 205.3 billion, which was US$ 149,990 million in 2013 with the 58th position.

Besides, based on the purchasing power parity 2015, Bangladesh also upgraded its position by three steps occupying the 33th place from 36th position in 2013.

Planning Minister AHM Mustafa Kamal revealed this before the meeting of the Executive Committee of the National Economic Council (ECNEC) today. Prime Minister Sheikh Hasina presided over the meeting held at the NEC conference room in the Bangladesh capital city Dhaka’s Sher-e-Bangla Nagar area.

Ministry of Planning prepared the report titled ‘Bangladesh is moving ahead, the latest position of Bangladesh in the global economic arena’ basing on the information of the World Development Indicators database, World Bank, April 2015 and the IMF World Economic Outlook (WEO), April 2015.

The planning minister said they want to move ahead with a smooth pace in terms of project implementation in the next year and the subsequent years utilizing the resources properly.

The statistics showed Bangladesh is still ahead of countries like Vietnam, Kazakhstan, Portugal, Qatar, New Zealand and Peru as per the current prices of GDP.

According to the GDP based on current prices of 2015, the United States is holding the first position with a GDP size of $18,124.70 billion followed by China with a GDP size of $11,211.90 billion, Japan with a GDP size of $4,210.40 billion, Germany with a GDP size of $3,413.50 billion and United Kingdom with a GDP size of $2,853.40 billion.

Based on the 2013 prices, Bangladesh’s economy was at 58th place with a GDP size of $ 149,990 million. However, the U.S. was at the top with $ 16,768,100 million while Vietnam was at 57th position with $ 1,71,390 million.

Commenting on the report, Prime Minister Sheikh Hasina said: “We have been maintaining over 6 per cent GDP growth since last six years, which is a great achievement for the country and all the people of the country have contributed for the achievement.”

“We’ve to pull the country’s economy ahead through the effective management of resources what we have… and I hope the existing trend of economic development would boost further,” he added.

Considering GDP based on purchasing power parity 2015, Bangladesh has upgraded its position with a ranking of 33 with a GDP size of $ 572.4 billion ahead of Algeria, Vietnam, Iraq, Venezuela, Belgium and Switzerland.

However, as per the GDP based on purchasing power parity 2013, the position of Bangladesh in global economic arena was at 36 with GDP size of $ 461,644 million ahead of Switzerland, Sweden, Singapore, Ukraine, Hong Kong and Qatar.

Another report says: Bangladesh government has launched a project to develop some 1557km roads in different districts under 10 zones aimed for safer road connectivity across the country.

Roads and Highways Department will implement the project titled ‘Development of district roads (Dhaka Zone, Mymensingh Zone, Chittagong Zone, Comilla Zone, Sylhet Zone, Khulna Zone, Barisal Zone, Gopalganj Zone, Rajshahi Zone and Rangpur Zone’ involving Taka 996.66 crore.

Under the project, some RCC culverts, drains, RCC box culverts, RCC bridges and pavements, apart from road development, will be constructed.

The Executive Committee of the National Economic Council (ECNEC) today approved the project held at the NEC conference room in the city’s Sher-e-Banglanagar with ECNEC chairperson and Prime Minister Sheikh Hasina in the chair.

Planning Minister AHM Mustafa Kamal, after the meeting, told newsmen the ECNEC approved a total of eight development projects, including the road development, with an outlay of Taka 1576.32 crore.

“Of the total cost, the government will provide Taka 1,560.82 crore from the national exchequer while the organization concerned will contribute Taka 15.50 crore from own fund,” he added.

Six projects, among the approved eight, are new while two are revised projects.

State Minister for Finance and Planning MA Mannan was present at the briefing.

The day’s ECNEC meeting approved another project titled ‘Protection of right embankment of the River Padma for protecting the Kuthibari of Biswa Kobi Rabindranath Tagore and the adjacent areas’ with Taka 180.68 crore.

Bangladesh Water Development Board is entrusted to implement the project at Kumarkhali upazila under Kushtia district from May, 2015 to June, 2018.

The project aims at protecting some 3.72km right side embankment of the River Padma to save the ‘Kuthibari’ as well as Shilaidah Union Parishad and the surrounding agricultural lands, many government and private properties and establishments.

The other projects approved in the meeting are construction of Multistory building for BSCIC in the capial’s Tejgaon area with Taka 62 crore, construction of Rajshahi Jail Training Academy with Taka 73.42 crore, construction of some 25 circle ASP office cum residential buildings for Bangladesh Police with Taka 38.29 crore, introduction of tourism facilities at Parky and Patenga in Chittagong with Taka 49.61 crore, establishment of upazila livestock development center (ULDC), 3rd phase with Taka 131.15 crore and establishment of fertilizer testing and research center with Taka 44.51 crore.

Ministers and State Ministers attended the meeting while Planning Commission members and secretaries concern were present. –Our Monitor (Photo: PID)

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