Editorial

Number of new poor people increases

Devise measures to tame inflation


Bangladeshpost
Published : 10 Jun 2022 10:38 PM

It is discouraging to note that the number of "new poor" has increased between January and May of this year. According to a multisectoral research report titled "Inflation, Coping and Recovery Challenges," jointly prepared by the Power and Participation Research Centre (PPRC) and the Brac Institute of Governance and Development (BIGD), the number of new poor in the country stands at 30.9 million, which is 18.54 percent of the population.

Bangladesh has achieved remarkable success in poverty alleviation over the last decade, thanks to the relentless efforts of the incumbent government for prioritising poverty alleviation in its development agenda. It is worth mentioning that the incumbent  government has successfully reduced the country’s poverty rate by 50 percent in the last ten years. Gone were the days when poverty and Bangladesh were synonymous for many years to the international community. The scenario has changed and Bangladesh's efforts to eradicate poverty are now very well recognised and admired throughout the world.  


The government should give more priority to 

inclusive and micro-level development than economic growth


Though we have achieved enviable success in poverty alleviation, the rate of poverty reduction is not adequate compared to the country’s striking growth rate. Also, the rich-poor divide has been growing remarkably in Bangladesh. Hence,  the government should give more priority to inclusive and micro-level development than economic growth. In order to make our economic growth more inclusive, the government must take initiatives for enhancing poor people's participation in economic 

activities. 

The global health crisis caused by Covid- 19 has hit Bangladesh's economy hard and jeopardised the country's impressive achievements in poverty reduction. There is no denying that the government is providing allowance for the poor and needy. But apart from giving allowance, it has become more of a necessity to involve the poor in income-generating works.

Bangladesh has set an ambitious target to alleviate extreme poverty to 2.3 percent by 2031 and moderate poverty to below 3 percent by 2041. In order to chase this target within the stipulated time,  necessary initiatives should be taken to address some key issues such as climate change, natural disasters and weak rural infrastructure which have long been deterring our efforts towards eradicating poverty.