DHAKA, Oct 18, 2019 (BSS) – Finance Minister AHM Mustafa Kamal said Bangladesh’s economy is now in the best position in view of the present perspective of the global economy.
“We are passing the best time of our economy. In view of the global economy, we are in the best position. We are moving forward under the leadership of Prime Minister Sheikh Hasina,” he told journalists in Washington DC on Thursday.
The minister talked to journalist after holding a series of meetings with Executive Director of the World Bank for Bangladesh, India, Sri Lanka and Bhutan Aparna Subramani, India’s Finance Minister Nirmala Sitharaman and Deputy Managing Director of the International Monetary Fund (IMF) Mitsuhiro Furusawa on the sideline of the World Bank and IMF Annual Meeting in Washington DC in the USA, said a press release here today.
In the past two decades, Kamal said, the world witnessed economic disasters several times. In the great economic catastrophe that occurred in 1997, he said, several countries in Asia, including Indonesia and South Korea, fell in a difficult position.
In 2008 catastrophe, he said, many countries, including the United States, fell at the worse position, but even then, Bangladesh’s economy did not face any criticality.
He mentioned that now the third extreme situation is prevailing across the world and that is the so-called trade war.
“The impact of this ongoing trade war has led to a downward trend in global economy. China’s growth has dropped from 14.4 percent to 7 percent, but Bangladesh’s economy is moving forward,” he added.
Kamal said Bangladesh’s growth is increasing, which may seem like a myth, but it is the reality.
“The biggest contribution to this is from the people of Bangladesh. Because, we make our demand and we produce as per the demand. As a result, there is no risk at this time in our financial sector,” he added.
He said the World Bank and IMF have lauded Bangladesh for its progress in all sectors and they presented Bangladesh positively before the world.
He informed that around 3 core employments will be created within 2030 and so, there will be no problem for employment then.
Finance Secretary Abdur Rouf Talukder, Secretary of the Economic Relations Division (ERD) Monowar Ahmed and Alternative Executive Director of the World Bank Mohammad Mosharraf Hossain Bhuiyan were present at the meetings.