Bangladesh estimates 7.65 percent economic growth for this fiscal year, fastest on record

[Neptune_]

I love sambar and rasam of south india. I also love the $hit they make with sour milk.

Post a pic of that dish. Let's turn this thread into a food thread

 

[gslv mk3]

A few extra dollars will buy a lot of these banana leaf meals....

Don't worry, we'll donate some to you so that you can catch a lot more Hilsa from your sewers oops rivers

 

[HariPrasad]

All the best. I wish BD to cross 8%.

 

[gslv mk3]

Per capita income of Bangladesh if rise to $1,752 during the year 2017-2018 which means it will be higher then India's per capita income for the year 2017-2018 which is expected to be Rs 1,11,782 or $1,719

https://economictimes.indiatimes.co...to-rs-111782-in-fy18/articleshow/62383494.cms

@Nilgiri look how intelligent the fish-eating buncj is...

A lot of 'omega-3 fatty acid goodness'

 

[Mage]

Happy for you!

A few extra dollars will buy a lot of these banana leaf meals....

This actually looks tasty

 

[bête noire]

Industries helping to achieve record GDP growth

• Golam Mowla
• Published at 03:07 PM April 05, 2018
• Last updated at 04:22 PM April 05, 2018

According to Bangladesh Bureau of Statistics (BBS) data, Bangladesh will achieve a GDP growth of 7.65% in the current FY, exceeding an earlier prediction of 7.4%

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Standing on the shoulders of the country’s industries sector, Bangladesh is on the verge of achieving a new record in GDP growth for the Fiscal Year (FY) 2017-18.

According to Bangladesh Bureau of Statistics (BBS) data, Bangladesh will achieve a GDP growth of 7.65% in the current FY, exceeding an earlier prediction of 7.4%. The data also confirmed that the industries sector is making the most impact on this projected growth.

On Tuesday, Planning Minister AHM Mustafa Kamal highlighted the growth in the Industries sector during a meeting of the Executive Committee of the National Economic Council.

According to the minister, the projected growth in the industries sector for this FY is 11.99%. Contribution of this particular sector to the GDP has increased by 2% compared to the previous FY, which was 10.22%.

According to sources, contribution of this sector in the GDP has exceeded 32%. Bangladesh currently has around 1,000,000 small and medium industries.

These SMEs (Small and Medium Enterprises) are contributing to 23% of the GDP and providing 80% of the total employment opportunities in this sector.

Speaking to the correspondent, Research Director at the Center for Policy Dialogue (CPD), Khandaker Golam Moazzem said: “The BBS data clearly highlights the industries sector’s huge contribution to the GDP.

“Growth in all three types of industries, large, medium and small, is quite good compared to the previous FY. The export and the domestic industries sectors both have moved forward.”

What about other sectors?

The BBS data revealed that the growth in service sector has slowed down. But there are doubts regarding whether the slowdown is affecting the employment rate.

Addressing the issue, Golam Moazzem said: “There are confusions about the BBS growth prediction for the agriculture sector, as floods severely damaged crops across the country, especially the Amon paddy this fiscal year.”

“Because of the floods, rice prices increased, leading to a spike in food grain imports, which could affect growth in this sector negatively.”

Explaining the growth prediction, the planning minister had earlier said: “The production of Aush paddy and jute crops have increased, along with the production of fish. The industries sector witnessed increased production capabilities due to improved supply of gas and electricity.

“Production in sectors such as garments, pharmaceuticals, cement and cattle feed has increased. Wholesale and retail dealings in the service sector increased compared to the previous FY.”

The minister continued: “The construction sector also witnessed growth. Projects such as Padma Multipurpose Bridge and Dhaka Mass Rapid Transit Development have provided a boost to development activities.”

Bangladesh Institute of Development Studies (BIDS) Research Director and also Agrani Bank Chairman Dr Zaid Bakht believes that the industries sector is making a huge positive impact on the GDP growth.

Speaking to the correspondent, he said: “Government investment has increased in this FY, which also caused the private investments to go up. Import of industry machinery and raw materials has increased. These factors are contributing to the GDP growth.”

According to the data revealed by the planning minister, the projected GDP growth for the current fiscal year is 7.65%. As part of the prediction, the agriculture and the service sectors would see 3.06% and 6.33% growth respectively, while the industries sector would achieve 11.99% growth.

Sources from the BBS pointed out that in the previous FY, the agriculture sector witnessed a growth of 2.9%, industries sector of 10.22% and service sector of 6.69%.

Employment and labour force

The labour force survey report by the BBS revealed that a total of 3,700,000 people gained employment in FY 2016-2017.

In the industries sector, only 200,000 people gained employment during the same period.

According to the bureau, the growth of new employment opportunities in the industries sector has been slow so far.

In 2013, this sector employed around 12,100,000 people, which stood at around 12,200,000 in the FY 2015-16, and 12,400,000 in the FY 2016-17.

The BBS report further stated that among the effective workforce of around 109,100,000 people, around 2,680,000 currently remain unemployed.

A total of 1,400,000 people have achieved “paid employment” status and another 1,000,000 found jobs and work abroad. The growth in new employment currently stands at 2.2%.

Of the growth in employment sector, male employment increased by .07%, while female employment increased by 4.8%.

The service sector employed a total of 23,700,000 people in the FY 2016-17, which increased by 1,700,000 in the current fiscal.

The BBS data also mentioned that the projected GDP growth was exceeded for the first time in Bangladesh’s history in the previous FY. The government had projected a growth of 7.2%, but 7.28% growth was achieved that FY.

According to Bangladesh Bureau of Statistics (BBS) data, Bangladesh will achieve a GDP growth of 7.65% in the current FY, exceeding an earlier prediction of 7.4%. The data also confirmed that the industries sector is making the most impact on this projected growth.

On Tuesday, Planning Minister AHM Mustafa Kamal highlighted the growth in the Industries sector during a meeting of the Executive Committee of the National Economic Council.

According to the minister, the projected growth in the industries sector for this FY is 11.99%. Contribution of this particular sector to the GDP has increased by 2% compared to the previous FY, which was 10.22%.

We need massive growth in industry and we are seeing that already happening to a good extent.

 

[UKBengali]

7.65% growth likely with a bad year for agriculture.
BD economy is on steroids.

 

[Nilgiri]

@Nilgiri look how intelligent the fish-eating buncj is...

A lot of 'omega-3 fatty acid goodness'

Apples and oranges. You are comparing gdp per capita of bd with NNI per capita of India. Gdp per capita of India for the year 2017-18 should have crossed 2000$ if not should be close to 2000$

I have "discussed" this topic before with the volunteering Biman "Genghis Khan descent" bureaucrat omega-3 "worthy" (and the quack back-up that vanished like a fart in the wind quickly too) at that time and the results speak for themselves (sad to see LA se Karachi no longer around these days) :

https://defence.pk/pdf/threads/indias-per-capita-income-rises-7-4-to-rs-93-293.454395/

These fools seem to be incapable of realising at any fundamental level:

a) Way different standards in play when talking "per capita income" esp when a country is crap GDDS to begin with

b) Per Capita incomes subtract investment from the get go, which apparently is of zero relevance? The fact we are in some notion of estimating economic growth topic makes this even more giddy laughter for me if I think about it. Honestly maybe omega-3 overconsumption (fake feelz or real) really does play some role @django @El Sidd

c) The grandiose utter stupidity of converting a "per capita income" to a foreign currency, when its already terrible to do this for a low foreign trade/investment permeation country for nominal GDP per capita in the first place

d) multiple other issues at play

@Gibbs @Joe Shearer @bluesky @Skull and Bones @Mage @Ashes

 

[Bilal9]

This actually looks tasty

Well 'Looks' and 'Tastes' may be two different things.

May be it was my bad luck, but the South Indian 'tiffin' place I went to (for the first and last time) served strict vegetarian food and it was pretty bland - blander than the dosa itself. I'm sorry - but if you served that to the groom's delegation in Bangladesh, they'd get up and leave.

 

[Black_cats]

Well 'Looks' and 'Tastes' may be two different things.

May be it was my bad luck, but the South Indian 'tiffin' place I went to (for the first and last time) served strict vegetarian food and it was pretty bland - blander than the dosa itself. I'm sorry - but if you served that to the groom's delegation in Bangladesh, they'd get up and leave.

Recently I met a guy from Madras and he was in favor of cooking at home to save money. He said he is a civil engineer and at Madras if he cook at home and share a room he covers entire month cost within 3-3.5k rupee. So you can easily understand their condition.

 

[TopCat]

7.65% growth likely with a bad year for agriculture.
BD economy is on steroids.

The great part is that manufacturing posted 13% growth this year. I hope contribution of service sector to the economy goes below 50% and industries goes above 40% in next 5 years.

 

[Tanveer666]

hopefully unemployment levels will also be brought down.

 

[Bilal9]

Recently I met a guy from Madras and he was in favor of cooking at home to save money. He said he is a civil engineer and at Madras if he cook at home and share a room he covers entire month cost within 3-3.5k rupee. So you can easily understand their condition.

Well this sort of 'kanjoosi' is somehow seen as a great trait in India. I personally could never get used to always being a 'kanjoos' like this.

I used to visit India back in the day and they have these micro-mini shopping bags to get half a kilo of this, quarter kilo of that....I have never seen this in Bangladesh.

 

[TopCat]

Well this sort of 'kanjoosi' is somehow seen as a great trait in India. I personally could never get used to always being a 'kanjoos' like this.

I used to visit India back in the day and they have these micro-mini shopping bags to get half a kilo of this, quarter kilo of that....I have never seen this in Bangladesh.

To be honest, expatriate bangladeshis are pretty Kanjoos too.

 

[Bilal9]

To be honest, expatriate bangladeshis are pretty Kanjoos too.

Well it depends on the person/family - and not from the Bangladeshis that I myself know, definitely.

If lower income Bangladeshis are saving up to buy property back home in Dhaka, then maybe. But that still is a long shot. It is not in the nature of Bangladeshis (or Pakistanis of course) to be as kanjoos as some people in India.

I personally saw some Bangladeshi taxi-drivers/owners in NYC going to music concerts en-famille and the tickets are easily over a couple of hundred per person (about a thousand per event).

Some people go to Makkah to perform Umrah every other year almost - that's not cheap either.

Educated Bangladeshis invite friends to their houses and have lavish catered parties almost every other month (for any odd reason). Nothing 'kanjoosi' there for sure as each event will cost north of $5000 each time. Lavish Birthdays will cost double that sometimes.

I have been to Shaadis that cost over 300 dollars a plate and there were 500 people invited. Now you do the math. And that's just the food.

Most Bangladeshis I know live in houses in the West coast valued at more than a Million - double that if you consider San Francisco. And I'm talking about the average working professional with some education.

In fact - I believe locals (meaning Caucasian Americans) are more kanjoos than us that I have personally seen.