Per capita income falls to $2,765

[Black_cats]

Per capita income falls to $2,765

ECONOMY​

TBS Report
11 May, 2023, 06:50 pm
Last modified: 11 May, 2023, 08:31 pm

State Minister for Planning Shamsul Alam, however, said per capita income had grown in terms of taka in pace with the economy, which also grew 6.03% this fiscal year.​

Illustration: TBS

The per capita income in Bangladesh fell 1% year-on-year to $2,765 in 2022-23.

Citing estimates by the Bangladesh Bureau of Statistics, a planning ministry official confirmed the fall, chalking it down to the devaluation of the taka against the US dollar.

State Minister for Planning Shamsul Alam, however, said per capita income had grown in terms of taka in pace with the economy, which also grew 6.03% this fiscal year.

Per capita income was $2,824 in 2021-22 fiscal year, up from $2,591 in 2020-21.

As taka's value fell amid the Russia-Ukraine war and the dollar crisis, incomes also fell.

The per capita monthly income of Bangladesh had increased by more than 93% to Tk7,614 in the last six years, according to the Household Income and Expenditure Survey 2022 of the Bangladesh Bureau of Statistics (BBS).

In 2016, people in the country earned an average of Tk3,936 per month which means the income increased by Tk3,678 in the last six years.

The BBS survey said every household in the country earns an average of Tk32,422 per month. After splitting the amount among a little over four-member family, the per capita income stands at Tk7,614.

Earlier in January, Prime Minister Sheikh Hasina vowed to transform Bangladesh into a country with a per capita income of at least $12,000 by 2041.

Per capita income falls to $2,765

State Minister for Planning Shamsul Alam, however, said per capita income had grown in terms of taka in pace with the economy, which also grew 6.03% this fiscal year.

www.tbsnews.net

 

[Black_cats]

GDP growth slows to 6.03% in FY23​

Says BBS citing provisional estimates

Ahsan Habib
Fri May 12, 2023 12:00 AM Last update on: Fri May 12, 2023 01:47 AM

The economy is estimated to have expanded at a slower-than-expected pace in 2022-23, said the Bangladesh Bureau of Statistics (BBS) yesterday, a figure that analysts describe as good in view of elevated inflation, slowing exports and remittances and the ongoing pressure on the country's foreign exchange reserves.

The gross domestic product (GDP) grew by 6.03 per cent in the fiscal year, ending in June, said the national statistical agency based on its provisional estimate.

The economy expanded by 7.1 per cent in 2021-22 but the buoyancy began to slow down following the Russia's invasion of Ukraine in February 2022.

Yesterday, Prof Shamsul Alam, state minister for planning, shared the GDP growth estimate of the BBS after the meeting of the National Economic Council. He gave no details.

The estimate of the BBS is higher than the projection made by the international agencies such as the World Bank, the International Monetary Fund and the Asian Development Bank.

Among the three, the IMF projected the highest growth at 5.5 per cent of GDP for FY23.

The BBS projection is based on the performance of the various indicators of the economy in the first half of FY23 and is lower than the government's goal of 6.5 per cent.

The economic growth target was revised downward twice since the beginning of the fiscal year in July owing to the continuing stress in the economy.

Zahid Hussain, a former lead economist of the World Bank's Dhaka office, told The Daily Star that the downward estimate has aligned the growth rate with reality.

"Every indicator related to the GDP growth has been weak. So, the government has had to revise the target downwards."

"Imports fell, remittance growth has remained flat while private credit growth has slowed. Only the export growth was in a good shape initially and it has slowed down of late."

In April, remittance declined 16.27 per cent year-on-year to $1.68 billion. Overall, money transferred by migrant workers and non-resident Bangladeshis living abroad grew 2.36 per cent to $17.71 billion in July-April.

Export earnings dipped 16 per cent year-on-year in April, with overall receipts growing by 5.38 per cent to $45.67 billion in the 10-month period.

Import bills dropped 12.33 per cent to $53.93 billion in the first three quarters.

Hussain, citing Bangladesh Bank data, said credit to the private sector slowed to 12.03 per cent in March from a year ago.

"The manufacturing sector is suffering from the dollar shortage and load-shedding while the structural problems of the economy have persisted for years."

He said if the 6 per cent growth rate is achieved at the end of the year, it would be excellent.

"Only a small number of countries are estimated to grow at more than 6 per cent in the current situation."

Prof Mustafizur Rahman, a distinguished fellow at the Centre for Policy Dialogue, said, "It is good to see that the government has lowered the projection as we need to bring macroeconomic stability first."

MK Mujeri, a former director-general of the Bangladesh Institute of Development Studies, termed the projection optimistic, considering the present macroeconomic situation, both local and global.

"If the growth rate is achieved, it would be good for the country."

The former central bank chief economist said the global economy is still facing uncertainty and the macroeconomic situation in Bangladesh has remained volatile.

"This volatility has taken a toll on the real economy."

CPD's Rahman said in order to restore macroeconomic stability, interest rates have to be made market-based. But it may impact investments.

He said expenditure needs to be cut to reduce fiscal deficit.

"If expenses are cut, the GDP growth rate may drop in the upcoming fiscal year. But the fascination over growth should be checked and macroeconomic stability should be emphasised."

GDP growth slows to 6.03% in FY23

The economy is estimated to have expanded at a slower-than-expected pace in 2022-23, said the Bangladesh Bureau of Statistics (BBS) yesterday, a figure that analysts describe as good in view of elevated inflation, slowing exports and remittances and the ongoing pressure on the country’s foreign...

www.thedailystar.net

 

[SoulSpokesman]

Creditable that BD still grows at 6% plus. Kudos to SHW and the GoB

Regards

 

[-=virus=-]

Takas, lol

 

[bluesky]

The per capita income in Bangladesh fell 1% year-on-year to $2,765 in 2022-23.

This is just a rat race per capita income figure without a real base. This figure goes down with the fall of currency.

 

[NG Missile Vessels]

This is just a rat race per capita income figure without a real base. This figure goes down with the fall of currency.

 

[X-ray Papa]

Takas, lol

At least we have toliets

 

[bluesky]

View attachment 929227

With a little over $2,500 per capita, Indians go to jungles and drains to relieve themselves. Many Indians have no basic amenities to improve their living conditions.

BD people with $2,470 per capita live a better life than Indians. The GoB should ask the international authorities to take into account this factor in the calculation of per capita GDP.

The Authority should deduct $1,000 per capita from the Indian figure to make it $1,500 per capita.

 

[CallSignMaverick]

At least we have toliets

Those toilet jokes are too old and lame now

With a little over $2,500 per capita, Indians go to jungles and drains to relieve themselves. Many Indians have no basic amenities to improve their living conditions.

Hmmm... Wonder who relies on hanging larines.

BD people with $2,470 per capita live a better life than Indians. The GoB should ask the international authorities to take into account this factor in the calculation of per capita GDP.

In what metric exactly

The Authority should deduct $1,000 per capita from the Indian figure to make it $1,500 per capita.

 

[bluesky]

Those toilet jokes are too old and lame now

Read below. Wiki says more than 20 percent of Indians practice open defecation and you are here to claim it was practiced during the time of Ram. Read below to know the reality.

"Although access to sanitation in rural India is improving, the increase is not equitable. Open defecation is still almost universal among the poorest 20% of India".
https://en.wikipedia.org/wiki/Open_...ss to sanitation in,the poorest 20% of India.

Open defecation - Wikipedia​

https://en.wikipedia.org/wiki/Open_...ss to sanitation in,the poorest 20% of India.
Indianlog bahut jhut bolta hain.

 

[NG Missile Vessels]

Read below. Wiki says more than 20 percent of Indians practice open defecation and you are here to claim it was practiced during the time of Ram. Read below to know the reality.

"Although access to sanitation in rural India is improving, the increase is not equitable. Open defecation is still almost universal among the poorest 20% of India".
https://en.wikipedia.org/wiki/Open_defecation#:~:text=Although access to sanitation in,the poorest 20% of India.

Open defecation - Wikipedia​

https://en.wikipedia.org/wiki/Open_defecation#:~:text=Although access to sanitation in,the poorest 20% of India.
Indianlog bahut jhut bolta hain.

According to an estimate,one-third of the toilets in Dhaka South are unusable, indicating a crisis within the crisis

Dhaka needs to fix its toilet crisis

Lack of public toilets in the capital and elsewhere is causing much suffering

www.google.com

 

[Black_cats]

With a little over $2,500 per capita, Indians go to jungles and drains to relieve themselves. Many Indians have no basic amenities to improve their living conditions.
BD people with $2,470 per capita live a better life than Indians. The GoB should ask the international authorities to take into account this factor in the calculation of per capita GDP.

The Authority should deduct $1,000 per capita from the Indian figure to make it $1,500 per capita.

It’s fine. India’s 2023 data is available from April but for Bangladesh it will be available from July. Bangladesh will overtake India’s 2601 USD per capita gdp that time. The report predicted $2765 though. Without devaluation of taka it would be $3100 to $3200.

According to an estimate,one-third of the toilets in Dhaka South are unusable, indicating a crisis within the crisis

Dhaka needs to fix its toilet crisis

Lack of public toilets in the capital and elsewhere is causing much suffering

www.google.com

View attachment 929248
View attachment 929249

Dude why distorting facts with selective figures?

In India 15% population do open defection where as it’s 0% for Bangladesh.

World Bank Open Data

Free and open access to global development data

data.worldbank.org

In Bangladesh 99% population has some form of toilet facility where as it’s 81% in India.

 

[bluesky]

It’s fine. India’s 2023 data is available from April but for Bangladesh it will be available from July. Bangladesh will overtake India’s 2601 USD per capita gdp that time. The report predicted $2765 though. Without devaluation of taka it would be $3100 to $3200.

Cry Indians, cry. Ask your Amit Shah the pig to cry as well.

@NG Missile Vessels and other Jangli Indians

 

[X-ray Papa]

Lmao keep on proving yourself a kanglu now that your propaganda is busted.

Keep on changing topics I know you have no logical arguement to back your propaganda up


We're well aware of Bangladesh economic conditions

Forex reserves drop to $29.77b after ACU payment

The pressure on Bangladesh’s foreign-exchange reserves continues to mount as the central bank cleared import payment amounting to US$ 1.18 billion through the Asian Clearing Union (ACU) mechanism on Sunday, officials said. After the clearance of import liabilities, the country’s forex

thefinancialexpress.com.bd

https://newsonair.com/2023/05/07/bangladesh-growth-and-foreign-currency-reserves-facing-inflationary-pressures-elevated-volatility-and-slowdown-in-trading-partners-imf/

Says a road shitter lindu, go drink some cow pee

 

[X-ray Papa]

This alone shows why there is massive jaahiliat and inbreeding in kangladesh. It all boils down to the extremely low schooling years. It all starts from there

Just shut up your monkey mouth and go back to the jungle, idiot!!! You are uncivilized and unfit in a civilized discussion forum. Just get the Hell out.

Lol are you retarded? Why you trying to talk like bluesky? are you a big fan of him?