A growing economy has growing needs

Bangladesh’s economy is set to become the 30th largest economy in the world by 2024 -- it is clear that no longer can we be ignored in the global arena.

With close to 8% GDP growth over the past couple of years, and with further growth projections and ambitions in the near-future, Bangladesh’s economic journey is indeed one to be celebrated.

However, despite the obvious economic milestones that Bangladesh continues to achieve, there is no scope for the government and the authorities concerned to revel and rest on their laurels as there is much work to be done for our country to truly be an economy worth envying.

Bangladesh ranked in the Human Development Index, for example, was an unimpressive 135 out of 189 countries in 2019, lower than many of its South Asian neighbouring countries.

The ranking, which takes into account life expectancy, education, and per capita income indicators, shows that Bangladesh has a long way to go.

Increasing the GDP is all well and good, but the government must do more to educate the future generation, and bring about more diverse curricula into our educational institutions to keep up with the world.

Additionally, the unchecked air pollution woes and frequent mosquito-borne epidemics are wreaking havoc on the health of the population, and a healthier population is paramount to a healthy functional economy.

There is also the topic of liveability, particularly in the capital, and as Dhaka is overwhelmed with its infrastructural mega-projects, other cities and towns in the country remain ignored while the capital reaches breaking point.

Thus, while becoming the 30th largest economy within the next 5 years is an admirable achievement, Bangladesh would do well to develop holistically, and address the growing concerns within.