Bangladesh : Development Forum Economic Update

The report reviews recent economic developments, showing economic growth continues to its path, and, aided by global economic recovery, export growth remains strong. The forex market has been stable since the national currency (taka) was floated in...

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Bibliographic Details
Main Author:	World Bank
Format:	Policy Note
Language:	English en_US
Published:	Washington, DC 2013
Subjects:	ACCOUNTABILITY ANALYTICAL WORK ANNUAL OBSERVATIONS ARSENIC AVERAGE GROWTH BALANCE OF PAYMENTS BANKING SECTOR CAPITA GROWTH CAPITAL ACCOUNT CAPITAL GOODS COMMERCIAL BANKS COMMUNITY PARTICIPATION COMPARATOR COUNTRIES CONSUMER PRICE INDEX COUNTRY DATA CPI CURRENCY UNIT DEBT DECENTRALIZATION DEMOCRACY DEVELOPING WORLD DEVELOPMENT GOALS DEVELOPMENT INDICATORS DEVELOPMENT PARTNERS DEVELOPMENT POLICY DEVELOPMENT WORKS DIRECT INVESTMENT ECONOMIC ACTIVITY ECONOMIC GROWTH ECONOMIC MANAGEMENT ECONOMISTS EMPLOYMENT EXCHANGE RATE EXPORT DIVERSIFICATION EXPORT GROWTH EXPORTS EXTERNAL DEBT FINANCIAL MANAGEMENT FOOD PRODUCTION FOOD SECURITY FOREIGN AID FOREIGN EXCHANGE GDP GDP PER CAPITA GOVERNMENT SECURITIES GROSS DOMESTIC PRODUCT GROWTH PERFORMANCE GROWTH PROCESS GROWTH PROJECTIONS GROWTH PROSPECTS GROWTH RATE HEALTH OUTCOMES HIGH GROWTH HUMAN CAPITAL HUMAN DEVELOPMENT HUMAN DIMENSIONS IMPORTS INCOME LEVELS INCOME POVERTY INCREASED DEMAND INFANT MORTALITY INFLATION INFLATION RATE INFLATION RATES INSTITUTIONAL FRAMEWORK INSTITUTIONAL MEASURES INSURANCE INTEREST RATES INVESTMENT CLIMATE INVESTMENT RATE LABOR FORCE LIQUIDITY LONG-TERM GROWTH LOW INCOME COUNTRIES LOW-INCOME COUNTRIES MACROECONOMIC ENVIRONMENT MACROECONOMIC FRAMEWORK MACROECONOMIC STABILITY MANUFACTURING SECTOR MEDIUM TERM MONETARY POLICY NATIONAL INCOME NATIONAL POVERTY PER CAPITA INCOME PER-CAPITA INCOME POLICY REVIEW POLICY STANCE POLLUTION POVERTY RATE POVERTY RATES POVERTY REDUCTION POVERTY REDUCTION STRATEGY POVERTY TRENDS PRICE LEVELS PRIMARY EDUCATION PRIORITY AREAS PRIVATE SECTORS PRODUCTIVITY INCREASES PUBLIC SECTOR PUBLIC SERVICE PUBLIC SERVICE DELIVERY PURCHASING POWER QUOTAS REAL WAGES REDUCING POVERTY RULE OF LAW RURAL POPULATION SERVICE DELIVERY SOCIAL DEVELOPMENT SOCIAL INDICATORS SOCIAL SECTORS SOCIAL SERVICES SOCIAL SPENDING STRUCTURAL BREAK STRUCTURAL REFORMS T-BILLS TAX COLLECTION TAX REVENUE TOTAL FACTOR PRODUCTIVITY TRADE BALANCE TRADE DEFICIT TRADE TAXES TREASURY BILLS URBAN AREAS VALUE ADDED WAGES WATER SUPPLY ECONOMIC DEVELOPMENT FINANCIAL MECHANISMS CURRENCY MARKETS FISCAL SUSTAINABILITY PRUDENTIAL REGULATIONS EXCHANGE RATE ADJUSTMENTS LIBERALIZATION MACROECONOMIC POLICY GROWTH PATTERNS POVERTY INCIDENCE POVERTY REDUCTION STRATEGIES ANALYTICAL METHODS PRODUCTIVITY GROWTH REFORM IMPLEMENTATION SOCIAL SECTOR INVESTMENT
Online Access:	http://documents.worldbank.org/curated/en/2004/05/4325177/bangladesh-development-forum-economic-update http://hdl.handle.net/10986/15671

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Summary:	The report reviews recent economic developments, showing economic growth continues to its path, and, aided by global economic recovery, export growth remains strong. The forex market has been stable since the national currency (taka) was floated in by the end-May 2003. The fiscal stance for FY04 remains expansionary, but within prudent limits, and without straining fiscal sustainability, whereas the monetary policy stance - tightened considerably last summer to facilitate exchange rate liberalization - is becoming increasingly adaptable, in recognition of the favorable macro-financial conditions, seemingly on a prudent course. Higher growth in the 1990s also translated into sharper declines in income poverty. Notwithstanding the impressive gains thus far, the magnitude of remaining development challenges is enormous. In June 2003, the Government adopted its first ever medium-term macroeconomic framework, which underpins its poverty reduction strategy, and should contribute to high growth, and fast-paced poverty reduction. The path of the fiscal policy in the medium-term framework, is consistent with Bangladesh's reform needs, and public debt sustainability. And, despite recent deterioration, the public debt stock appears sustainable. However, Bangladesh remains vulnerable to the scheduled phase out of the Multi-Fiber Arrangement (MFA) quotas from January 2005. The report estimates GDP growth rates would be needed if the stated poverty reduction objectives are to be achieved, and, analytical work suggests that higher growth is likely to come mainly from productivity increases. Regarding the agenda for human development it is indicated that with good foundations already built, Bangladesh should now move swiftly with the second generation reforms needed to further improve human development. These entail complementing increased social spending with significant improvements in the institutional framework for service delivery, as specified in the Interim Poverty Reduction Strategy Paper, with increased efforts to promote decentralization.

Bangladesh : Development Forum Economic Update

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