Kamal defends govt’s GDP growth data

[UKBengali]

ok it more just for triggered reaction incoming now anyway.

Out there its more interesting, this BD vs China troll thread stuff

Dude, you post the same old nonsense and use the same articles to back yourself up!

You are a bit of a pathetic joke tbh with this BD obsession.

 

[Nilgiri]

Dude, you post the same old nonsense and use the same articles to back yourself up!

You are a bit of a pathetic joke tbh with this BD obsession.

2 bucks per capita outside investment from a 300 billion GDP claim country (28% vanishes when using constant dollars) is pretty darn pathetic.

Another thing that just does not add up.

 

[El Sidd]

ok it more just for triggered reaction incoming now anyway.

Out there its more interesting, this BD vs China troll thread stuff

its fun actually. i found it quite amusing

 

[UKBengali]

2 bucks per capita outside investment from a 300 billion GDP claim country (28% vanishes when using constant dollars) is pretty darn pathetic.

Another thing that just does not add up.

Dude, it is not that straightforward.

FDI is rocketing into BD now as it is the fastest growing large economy in the world. Last year it hit nearly 4 billion dollars and with the firm proposals given, it could easily surpass 10 billion US dollar by 2021.

There are many reasons why FDI into BD has been historically low. A couple are the government did not want FDI into certain sectors like pharma and electronics(has been relaxed with Samsung being allowed in) as it wanted to protect and allow home industries to grow, and also the atrocious infrastructure that is now being remedied.

What we do know is that the minimum wage of garment workers has risen 5 times in the last decade with inflation just over 2 times and so their real take home pay has markedly increased.

We can all pick "statistics" to suit our narratives but what really matters is how BD people feel and they are pretty happy to allow AL to stay in power for another 5 years.

 

[Nilgiri]

Dude, it is not that straightforward.

FDI is rocketing into BD now as it is the fastest growing large economy in the world. Last year it hit nearly 4 billion dollars and with the firm proposals given, it could easily surpass 10 billion US dollar by 2021.

There are many reasons why FDI into BD has been historically low. A couple are the government did not want FDI into certain sectors like pharma and electronics(has been relaxed with Samsung being allowed in) as it wanted to protect and allow home industries to grow, and also the atrocious infrastructure that is now being remedied.

What we do know is that the minimum wage of garment workers has risen 5 times in the last decade with inflation just over 2 times and so their real take home pay has markedly increased.

We can all pick "statistics" to suit our narratives but what really matters is how BD people feel and they are pretty happy to allow AL to stay in power for another 5 years.

Thus I say let some more years play out and we can see who is right/wrong on this stuff. I don't see whats the problem. Market cap decline, household income decline, increasing dissonance on all consumption parameters (including energy - a major base input), major lowering of bump estimate from re-basing (probably because of the accumulated relative inflation there in "new" sectors)...non-RMG exports stagnant (even with media push when trial orders start)....big drama over assembly of CKU/SKU rather than actual MVA capacity invested.

In mean time we can simply see which country talks about the issue among itself and allows free expression and debate on it on national TV and which suppresses it and projects 95% mandate stronk on the issue and come to own conclusions based on that regarding the interim.

In fact there should be a prime time debate on BD TV over how and where does USD exchange rate correlate with the more relevant Taka economy....given the exchange rate "push" is determined heavily by just two activities: RMG and remittance....both which are not representative of economic activity in local Taka (or do Bangladeshis indeed spend say 90% of their income on buying RMG?) and are heavily influenced in first place by outsider give-away feelings (rather than developed by true level playing field competition) and are just a small % of the nominal Taka size of GDP in first place. But something so basic is not even discussed, much less debated.

Also why is Bangladesh govt so afraid to reform to get a better credit rating (stuck where it is ever since BD even joined the international credit rating system) and also actually work to get to SDDS standard? Not one white paper release by BD govt on a plan to get something actionable on this...just some vague noise on "improving ease of doing business index" in the same ole same ole simple reactionary stuff (always avoiding discussin on the fundamental stuff needed to get there). So to me it says (along with the corruption ranking) that the govt has something its hiding...that would likely materialise if it joined more actual big boy standards. Just better to squawk its a big boy and not actually do. After all what happens if you use big boy standards on the existing stuff where its available....what are the excuses generated? its clear to see:

https://defence.pk/pdf/threads/bang...o-economic-trade.617775/page-10#post-11457024

Why country of 170 million feel only one route will get them all some place and they must all just bear it and wait in line as long as the taskmasters tell them so and float numbers in front of their faces is quite silly. I don't think they feel that at all to be honest, they are just being suppressed enough to be controlled in such a way.

It (true reform to open up broad multi-channel input and all the proper discussion/debate that entails) will benefit the BD people....it wont benefit BAL though (in fact likely will be hurt big time).

Therein lies the answer....just like 95% seats won attitude @Atlas @bluesky @Skies

 

[VikingRaider]

just like 95% seats won attitude

Something is better left forgotten . Wait and see after the retirement of Hasina. Surely stronger opposition will come, but the evil ( previous terrorist opposition BNP jamat) should have been annihilated for the good of Bangladesh.

However BNP took oath ( Tareq Rahman ordered them to take oath) so by default the election was approved by them. And for this reason no approval will be needed for those fools (BNP) led by monster ( jamat) in future, as they are no longer the main opposition in parliament.

Now wait and see for few gentlemen's political party, not the Satan like BNP jamat alliance.

 

[Nilgiri]

Something is better left forgotten . Wait and see after the retirement of Hasina. Surely stronger opposition will come, but the evil ( previous terrorist opposition BNP jamat) should have been annihilated for the good of Bangladesh.

However BNP took oath ( Tareq Rahman ordered them to take oath) so by default the election was approved by them. And for this reason no approval will be needed for those fools (BNP) led by monster ( jamat) .

Now wait and see for few gentlemen's political party, not the Satan like BNP jamat alliance.

BNP is very inept. Its time for an actual party that knows what its doing to form as the alternative for BD ppl.

But I am talking more on the larger concept of this issue. We simply have to wait and see what is the actual stuff on the ground for ppl rather than numbers far above them at whatever scale...because that is something that goes thru lot of govt hands in the end....and we only in the end have credibility to judge upon along with what is out there beyond their control (i.e what others measure from their end too). Its mostly trade, investment, physical consumption etc I'm mentioning. Over time BD will calibrate and correlate more with more international norms and standards as it bulks up hopefully, but lets see....it needs to be proven. This in itself will put good positive pressure on BD political scene I feel (in long term way).

 

[lonelyman]

https://www.thedailystar.net/business/news/kamal-defends-govts-gdp-growth-data-1742329

12:00 AM, May 12, 2019 / LAST MODIFIED: 12:10 AM, May 12, 2019
Kamal defends govt’s GDP growth data


Star Business Report

Finance Minister AHM Mustafa Kamal yesterday defended the government’s GDP growth data, saying the rates are based on solid numbers.

His remark came a day after the South Asian Network on Economic Modeling (SANEM), a research organisation, called the recent economic growth data “puzzling”, citing that the figures are inconsistent with various indicators of the economy.

The Centre for Policy Dialogue, an eminent think-tank, had also questioned the current fiscal year’s provisional growth estimate of 8.13 percent.

All the numbers that were used to measure the economy and the annual growth are available, Kamal said.

“How I calculated the number? It is here. They can see the numbers,” he told reporters before going to a meeting with officials of the National Board of Revenue at its headquarters.


The finance minister, however, solicited constructive feedback from the think-tanks and research organisations.

“Their contributions enrich us. How do we get it right if they do not point out our mistakes? It is not that all our actions are always right and timely. They are here to correct us.”

Citing the International Monetary Fund’s (IMF) recent report on the World Economic Outlook, Kamal said the organisation predicted sluggishness in the world economy until 2024.

The IMF forecasted that 20 countries would act as growth drivers during the period -- and Bangladesh is one of them, he said. The country’s contribution to global GDP growth would be 0.9 percent, which is the same as Canada, a developed nation, according to an analysis by Bloomberg.

“I have not done this. This is done by the IMF,” he said, suggesting that the research organisations do all the legwork.

Kamal also mentioned the lavish praises that Bangladesh was accorded at the Asian Development Bank’s annual conference in Fiji earlier this month. Bangladesh was termed a country that registers spectacular economic growth. “Have we convinced them?” he questioned.

Correction

Earlier on May 9 after a meeting with a World Bank team, Kamal said in a statement that Bangladesh would be among the top 20 contributors to the global GDP by 2024.

In another statement the following day, he got corrected saying that Bangladesh would be one of the 20 countries to contribute to the growth of the global economy in 2019-20.

As fake as bengadesh fake tears for rohinyas, backed stabbed fellow Pakistan Muslims by being a lacky to India

2 bucks per capita outside investment from a 300 billion GDP claim country (28% vanishes when using constant dollars) is pretty darn pathetic.

Another thing that just does not add up.

very fake

 

[Abu Shaleh Rumi]

As fake as bengadesh fake tears for rohinyas, backed stabbed fellow Pakistan Muslims by being a lacky to India



very fake

Yah bro. You are right. Friendship with indians sucks. You should not make the same mistake we did...

 

[VikingRaider]

As fake as bengadesh fake tears for rohinyas, backed stabbed fellow Pakistan Muslims by being a lacky to India

Please stop provoking flame that can ruin this thread. And don't talk Rohingyas, you are the killer of them. Atleast India refrained from voting against Rohingyas , but you voted for the killers of Rohingya.
So in this case India played a good role, atleast they didn't vote for Burmese killers.

 

[lonelyman]

Please stop provoking flame that can ruin this thread. And don't talk Rohingyas, you are the killer of them. Atleast India refrained from voting against , but you voted for the killers of Rohingya.

of course, hasina and modi buddy buddy

 

[VikingRaider]

of course, hasina and modi buddy buddy

That doesn't matter, it's international politics. You will also turn your back to your political spouse if they go against your interest, I can bet my life on it. So if Modi is bad,but that necessarily doesn't make China the angel of heaven. So I approve Hasina modi buddy buddy relationship, unless India directly create huge trouble for us.
All are just political business.

 

[lonelyman]

That doesn't matter, it's international politics. You will also turn your back to your political spouse nation if they go against your interest, I can bet my life on it. So if Modi is bad,but that necessarily doesn't make China the angel of heaven.
All are just political business.

then ask your Bd members shut up posting lies about china everywhere

it's not in China's interests or policy to interfere on Bangladesh behalf, if you want to do it, do it yourself, what's stopping you? all western whites are behind you

 

[VikingRaider]

then ask your Bd members shut up posting lies about china everywhere

It's already done , and it's only few users not all. And it looks they already calmed down. So stop acting lunatic like the people of South Asia. I thought Chinese are atleast sane people unlike south Asian emotional idiots.

it's not in China's interests or policy to interfere on Bangladesh behalf, if you want to do it, do it yourself, what's stopping you? all western whites are behind you

You don't have to be concerned about our relationship with Western.
We are mostly neutral people, as we are maintaining good relationship with both India, China and west.

 

[mmr]

then ask your Bd members shut up posting lies about china everywhere

it's not in China's interests or policy to interfere on Bangladesh behalf, if you want to do it, do it yourself, what's stopping you? all western whites are behind you

Dont get upset by some BD posters. I am new here and i can see lot of provocations. I grow up in Vancouver and have many Chinese friends and they are lot more polite then most south Asian people.