BD economy to enjoy one of happiest years in 2019: GEF

FE Team | Published: January 06, 2019 23:40:35

The Global Economist Forum (GEF) has said the Bangladesh economy will enjoy one of the happiest years in 2019 in respect to economic freedom, which will help achieve above 7.5 GDP growth, reports UNB.
FEF, a Special Consultative Status development and policy organisation of the United Nations Economic and Social Council (ECOSOC), has released their worldwide economic prediction for 2019, including Bangladesh.
According to the prediction, Bangladesh exports will be significantly increased due to the US-China trade war. Bangladesh could be able to tap huge amount of foreign direct investment (FDI), especially in the special economic zones.
The revenue collection will face short of target due to poor business gain and slow growth in the private sector. But the public sector, especially power sector, will fetch huge investment, it said.
The power transmission sector could gain investment worth Tk 220.00 billion in 2019. The government debt to the gross domestic product (GDP) could be increased to 30 per cent.
According to GEF President Dr Enayet Karim, the actual balance of trade will be minus Tk 175 billion due to the huge quantity of import against export.
As per the prediction of Dr Mohammad Haider Ali Miah, President of Bangladesh chapter of GEF, the poverty will significantly be reduced and it will stand at 21.8 per cent due to equal distribution of resources.
Secretary General of Bangladesh chapter of GEF Dr Mamun-Ur Rashid said, "The inward remittance may not increase due to huge job cut in Saudi Arabia, the main labour market of Bangladesh, but new job markets will be invested and wages would be increased."