Poverty to go down to 11-14pc by 2018, says Muhith

FE Report | Published: February 25, 2015 00:00:00 | Updated: November 30, 2026 06:01:00

Finance Minister AMA Muhith said on Monday Bangladesh is on the verge of achieving the target of bringing down the rate of poverty between 11 and 14 per cent by 2018.
"Our poverty rate has almost gone down to around 12 per cent," the minister told newsmen after a meeting with visiting vice president of World Bank (WB) Annette Dixon at his secretariat office.
He said WB is doing its own calculation regarding the poverty rate. "Our household survey is due this year, and we will get the actual picture by the year-end."
Mr Muhith said when poverty rate goes down between 11 and 14 per cent, it is not considered as poverty. "It's restrictive burden."
He said the government and WB have already signed three deals amounting to US$1.2 million. Besides, discussion for budgetary support worth $500 million will start shortly.
Last year Bangladesh got $2.7 billion from World Bank to implement several projects. This year the amount will be almost the same, he also said.
The issue of mobilising domestic resources was also discussed with the WB vice president.
"I told her that in the past, 27 years were needed to mobilise 3.0 per cent domestic resources. We did it in six years, which is our pride. It was reflected in our budget." Mr Muhith said the WB vice president has appreciated Bangladesh's performances, especially in the fields of GDP (gross domestic product) growth, poverty reduction and raising export.
Talking to newsmen Ms Dixon said she had talks with the minister on Bangladesh's development success.
"Bangladesh's economy has been growing during the last decade, which has resulted substantial reduction of poverty. It's an outstanding success in development globally."
Ms Dixon said the economy has been growing at an average rate of 6.0 per cent year on year, which has reduced poverty and raised the living standard of people.
"My discussion focused on the things which we can do to support Bangladesh to take the country to middle income stage within the next few years, and we believe that the foundation is in place. And, with further support the development of the country will continue," she added.
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