Bangladesh is on the way to becoming a trillion dollar economy

By 2040, the economy of Bangladesh will touch the milestone of one lakh crore or one trillion dollars. The country's average GDP growth in the last six years was 6.4 percent. Even if this growth falls below 5 percent, the size of the economy will reach $1 trillion.

It is likely to reach a trillion dollars by 2030 if the economy grows at the rate of 8 to 9 percent and internal stability is maintained.

In the last meeting of the Executive Committee of the National Economic Council (ECNEC), the updated picture of the economy of Bangladesh was presented by the Ministry of Planning.

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According to the report, the size of Bangladesh's economy is shown to be 465 billion dollars in the report of the Canadian online publishing company Visual Capitalist on December 29 about the statistics of the International Monetary Fund (IMF). In 2022, Bangladesh was ranked 35th among major economies.

At the end of the Eknek meeting, the Minister of State for Planning said. Shamsul Alam said, no matter how much recession is predicted, the wave of recession will not affect us much. Bangladesh is not in the list of countries that are in danger of falling into recession. Almost all indicators of the economy are in good condition.

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December 2022 exports increased by 9.33 percent compared to the previous year. Last December, expatriate income also increased by 6.55 percent compared to the previous month. Expatriate income will further increase due to government's incentive measures and strategies. It will reduce the pressure on reserves. At the end of last December, the reserve stood at 3 thousand 375 million dollars.

According to the report presented on the reserves, Bangladesh is gradually managing the foreign exchange reserves even though they are under pressure due to related reasons.