Challenges in achieving higher growth
Bangladesh faces formidable challenges in moving to a higher growth path of 8 percent plus GDP to become a middle income country. The foremost challenge lies with the stagnant private investment followed by weak institutional capacity to implement development projects. To achieve its goal of middle-income country status by 2021 and to accelerate inclusive growth as well as reduce poverty and income inequality, the country will require a substantial increase in yearly investments from 29.0% of GDP in FY2015 to 34.4% of GDP by FY2020, said ICC Bangladesh President Mahbubur Rahman while presenting the Executive Board Report at the ICC Bangladesh Annual Council held in Dhaka on Thursday (25 May).
Bangladesh economy embraces 2017 with some other challenges that include declining remittanc...