B'desh to come out of LDC list by '21: Muhith
Tuesday, 19 January 2010
Finance Minister AMA Muhith said Monday that Bangladesh would be able to come out of the list of least developed countries (LDCs) by 2021 if they could move forward at the targeted pace, reports UNB.
"We have set 2021 the target to come out of the LDCs. For this, we hope to achieve the growth rate of 8.0 per cent by 2015, which may not be difficult if we go ahead with the Five-Year Plan," he said briefing reporters at a city hotel. "If 8.0 per cent growth is achieved, it will not be impossible to reach 10 per cent growth. The pace with which we are intending to go ahead, we will be able to achieve our target by 2021," added Muhith.
He thought that they needed decentralisation of power as well as the national budget to achieve the target, as these two were the major barriers.
Muhith listed education and illiteracy as other problems. "Women development has been good and they are really moving ahead. But, problems are there in the sectors of health services, nutrition and food security. Food security is yet to make a stable shape in the country.
He viewed that the situation was getting normal as Bangladesh as a typical LDC country that was doing well in macro-economic management. He said Bangladesh, among the LDCS, got very low external assistance. It is less than 2.0 per cent of the total Gross Domestic Product (GDP).
Underscoring the need for more aid, the finance minister said, "We also need more investment as our investment is low. Our public investment is barely around 16 per cent."
Answering a question, he said the major failure of the Brussels Programme of Action (BPoA) was the donor countries and agencies had failed to provide 0.2 per cent of their GDP to the LDCs.
"We have set 2021 the target to come out of the LDCs. For this, we hope to achieve the growth rate of 8.0 per cent by 2015, which may not be difficult if we go ahead with the Five-Year Plan," he said briefing reporters at a city hotel. "If 8.0 per cent growth is achieved, it will not be impossible to reach 10 per cent growth. The pace with which we are intending to go ahead, we will be able to achieve our target by 2021," added Muhith.
He thought that they needed decentralisation of power as well as the national budget to achieve the target, as these two were the major barriers.
Muhith listed education and illiteracy as other problems. "Women development has been good and they are really moving ahead. But, problems are there in the sectors of health services, nutrition and food security. Food security is yet to make a stable shape in the country.
He viewed that the situation was getting normal as Bangladesh as a typical LDC country that was doing well in macro-economic management. He said Bangladesh, among the LDCS, got very low external assistance. It is less than 2.0 per cent of the total Gross Domestic Product (GDP).
Underscoring the need for more aid, the finance minister said, "We also need more investment as our investment is low. Our public investment is barely around 16 per cent."
Answering a question, he said the major failure of the Brussels Programme of Action (BPoA) was the donor countries and agencies had failed to provide 0.2 per cent of their GDP to the LDCs.