Bangladesh: Government that Achieved

Bangladesh has just observed the first anniversary of stepping into democracy. One year back the country had stepped into the democratic system after a tow year’s long extra constitutional Governance that runs the nation under an emergency regime. And of course the nation is preparing for celebration the anniversary of a democratic government that had been elected by the people and committed to the welfare of the people. In this point of time the people of the country also have passed a year that counts all economic activities around the world including Bangladesh.

On the last year’s economic status one eminent economist mentioned that, Bangladesh has emerged as one of the countries least affected by the global economic downturn. Export is still far superior to the large contraction of export experienced worldwide, including in most developing countries. The growth of GDP has been fairly robust at nearly 6 percent annually, made possible by strong growth performance of agriculture and other sectors –mainly construction, services and informal manufacturing –mostly catering to the domestic market. Both disbursement and repayment of agricultural credit has increased substantially. The growth of remittances from migrant workers remains strong. And the government’s revenue earnings have increased at a modest rate.

With many limitations, as of the above mention comments, the economy of Bangladesh was in a stable position over the year. But question is that, who are the key players those are making the country’s economy stable, within the inter-related and inter-dependent world order that is facing a meltdown. Primarily the government policy intervention and initiatives deserve to get appreciation in this regard. Then of course the people of Bangladesh are the hero those are work hard for their livelihood and contribute a lot to the national economy.

While government policy is concern, the reflection came out from the activities of National Board of Revenue-NBR, the trading status of Capital Market, the performance of Banking sector and the initiatives of Central Bank.

Considering these factors, NBR performed quite well and has recorded 15.55 percent growth in revenue collection in the first five and a half months of the current fiscal year. The Capital Market of the country was started with a per-day trading range of Taka 4,000 million in January of 2009. In December 2009, this volume raised up to 10,000 million on an average. As of available data updated on the last day of the year 2009, the banks of the country made operating profits from 20 to 40 percent that varies bank to bank. On the other hand the central bank of Bangladesh that is the Bangladesh Bank is running through its regulatory and supervisory authority for the betterment of countries financial sector with very pro-people attitude. And of course it should be mentioned that the Bangladesh Bank has many success in inspiring the financial sector to support the rural economy by agriculture loan operation, to encourage the urban economy by cooperating the Small and Medium Enterprises –SMEs. In this consideration, it could be told that the performance of Bangladesh in Economic Activity in the year 2009 was mentionable and appreciating. Our salute for the economic performance of the nation goes to the farmers, workers and migrants laborers of the country as they are the key players to move the whiles of the economy. Our last compliment goes to the Prime Minister Sheikh Hasina and her government as they were keen to make the economy stronger and commitment to build a better livelihood environment for the people. #

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