Top StanChart researchers say Bangladesh to be $500-bn economy by 2026

The bank’s global research team was speaking at a media session following the 2021 Bangladesh session of the Bank’s Global Research Briefing series.

“While the pace and distribution of global recovery remains highly uneven, Bangladesh has made a strong comeback with one of the highest GDP growths in the world in 2020,” Eric Robertsen, global head of research and chief strategist of the bank, was quoted as saying by bangla media reports.

A robust vaccination programme and implementation of strategic infrastructure projects are expected to further increase the momentum towards the nation’s graduation from the least developed country (LDC) status, he said.

Naser Ezaz Bijoy, chief executive officer of Standard Chartered Bangladesh, said the government has navigated the internal and external challenges of the pandemic remarkably well.

“The resilience of the Bangladesh economy gives us cause for optimism. As the vaccination drive continues, the economy is set to accelerate, while lower debt levels compared to its peers provide a medium term fiscal runway for growth,” he added.

Saurav Anand, economist for South Asia at the bank, said the country’s economy is set to accelerate after a speed bump, with GDP growth forecast at 7.2 per cent in fiscal 2021-22.

“The momentum will be driven by an export demand recovery, strong remittance inflows and public investment. Policy support is a prerequisite for a smooth transition to middle-income status, with per capita GDP set to reach $3,000 by FY26,” Anand said.

Fibre2Fashion News Desk (DS)