Saturday, January 19, 2013

Bangladesh has a Strong Growth Rate in South Asia

Hello readers,
How are you? Another NEWS Report has been published today in some Newspapers in Bangladesh. The report was about the review of an official world economic report by the United Nations (UN). the UN report was unveiled on Thursday, 17th January, 2012 in seven cities across the world. I have planed to publish all kind of Positive News or Reviews about Bangladesh in this Blog. Beside this I will publish my regular kind of posts.

Anyway,
An United Nations (UN) report on the World Economic Situation and Prospects 2013 (WESP) has been released on Thursday. The report said that the economies of the Least Developed Countries (LDCs) are expected to rebound in 2013, rising to 5.7 percent from 3.7 percent in 2012.

The economical growth in South Asian countries in the year 2012 was the slowest in last ten years economic history. The report said that the main cause of this slowest Economical Growth was affected by high inflation, political instability, energy crisis and reduced investment in those countries.

But the conditions varied greatly across the different countries among LDCs, the report also said that Bangladesh had a strong growth in private investment sector and its inflow of Foreign Remittance maintained a steady growth.

“A number of LDCs have also seen solid investment and consumption, supported by sustained inflows of migrant workers’ remittances.”

According to WESP report, the growth rate of Bangladesh will post a 6.3 percent growth in 2013 and 6.4 percent in 2014 despite a marked slowdown in external demand, might experience about 20 percent year-on-year remittance growth in the second half of 2012.

The report also said that UN economic outlook refers that the growth of India fell from 9 percent in 2010 to 5.5 percent in 2012, the lowest in last 10 years. India's economy, which represents almost three quarters of the region's GDP, slowed markedly in the past two years. Annual growth declined from more than 9 percent in 2010 to 5.5 percent in 2012.

Economic growth in South Asia during 2012 fell to its slowest pace in a decade, but it is projected to recover in 2013, the report says. Gross domestic product in the region expanded by only 4.4 percent last year, after growing by 5.8 percent in the year before. Going forward, growth is projected to accelerate to 5.0 percent next year and 5.7 percent in 2014, led by a gradual recovery in India.

Nepal and Pakistan continued to experience subdued growth as ongoing political instability and security concerns weighed on domestic demand, the report says. In Pakistan, total investment has fallen for four consecutive years. However, Bangladesh and Pakistan experienced moderate declines in inflation in 2012.

Workers' remittance flows to Bangladesh, Pakistan and Sri Lanka continued to increase rapidly in 2012, partially offsetting the large trade deficits. The report notes that South Asia struggled with deep-rooted structural challenges in its labour markets. These challenges include the dominance of low-productivity jobs in the large informal sector, high shares of working poor, low female participation rates and high youth unemployment.

The report was a big and detailed report about the whole world economic. I have taken the screenshot of the UN report at the top of this post, from the web portal of The Daily Star. You can view their report by clicking on the link. Same kind of News report in English has been published in other Newspapers also, another link I found is The Daily Sun.


Thanks a lot.


Related posts:
Bangladesh has a better Parameter in Human Development than India
Bangladesh is going to make her own place in the Top 20

Bangladesh is a Basket of Food not a Bottomless Basket
Super Specialized Hospital at BSMMU
Industrial Sectors in Khulna is Increasing


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