The incumbent government’s all-round initiatives in the fiscal sector led to the rapid growth of the country’s economy over the last three years. Bangladesh will be a rich country by 2040 in terms of its currency reserves if the existing significant increase continues.
Amid the pandemic when the world economy is shrinking, we have set an example before the world how to keep the economy flourishing. We are developing. A lot can be said with recent statistics. We have become self-sufficient in food. We have witnessed a great development in the garment industry. Our technological advancement in agriculture is also noticeable. If this situation continues, we will become a rich country by 2040 in terms of dollars.
The government now needs to take strategic
policy measures to continue the positive
macroeconomic trend
Today, the foreign exchange reserves are USD 50 billion and the per capita income is USD 2,500. The average life expectancy has increased to 75 years. In a word, the once bottomless basket has turned into a development role model. And all this has been possible due to the visionary and prudent leadership and tireless work of Prime Minister Sheikh Hasina. Today Bangladesh is a country with a stronger economy than India and Pakistan.
The Central Bank should purchase the excess supply of greenback which will decrease the value of Bangladeshi currency. If this did not happen and the value of currency appreciated against the dollar then it would negatively affect the exporters and remitters more. The government now needs to take strategic policy measures to continue the positive macroeconomic trend. More foreign direct investments should be attracted and exports should be maximised so that we can maintain a trade surplus.
