Finance
Bangladesh Bangladesh's economy grew 271 times in 50 years: Policy Watcher
Dhaka, 23 July 2023 : American online newspaper Policy Watcher praised the economic success of Bangladesh and said the country has emerged as a case study of financial development in the world.
In an article titled 'Is Bangladesh's economy really growing fast?' published in the July 22 issue of the online magazine, it is said that the economy of Bangladesh has grown 271 times in 50 years on the basis of macro-economic stability.
The article appeared in the Editorial Picks section of Policy Watcher.
The author of the article is a PhD researcher at Lucerne University in Switzerland.
Emilia Fernandez is a South Asian geopolitics expert and security and political analyst.
In the article, Emilia Fernandez said, Bangladesh is ahead of India and Pakistan in many economic and social indicators. Bangladesh has now become a case study of economic development in the world, which few economists could have predicted.
He wrote, "When Bangladesh overtook Pakistan in GDP growth in 2006, many dismissed it as a fluke."
But since then, Bangladesh has overtaken Pakistan every year and Bangladesh is now one of the fastest growing economies in the world. He said that the successful journey of Bangladesh is a good example and in just two decades Bangladesh has surpassed Pakistan in important economic indicators and in the last 20 years Bangladesh's per capita GDP has grown by 500 percent, which is two and a half times that of Pakistan.
According to the article, Bangladesh is ahead of India-Pakistan in economic freedom index.
As per a report by Washington-based conservative think tank The Heritage Foundation, Bangladesh ranked 120th in 2021 with a score of 56.5.
India is at 121st position and Pakistan is at 152nd position with the same score as Bangladesh.
Emilia Fernandez said Bangladesh is ahead of India-Pakistan in global peace index. In the latest Global Peace Index (GPI) published by the Institute for Economics and Peace (IEP), an international research institute based in Sydney, Australia, Bangladesh is ahead of India and Pakistan in South Asia.
The economic journey of independent Bangladesh started in 1972 and at that time India and Pakistan were ahead in every economic index. Today, 50 years later, India and Pakistan lag behind Bangladesh in almost every indicator. This is the great achievement of freedom.
