Socio-Economic Challenges of Bangladesh

The Financial Express on December 21, 2014

3 Pages Posted: 31 Dec 2014

Date Written: December 21, 2014

Abstract

Economic development without socio-economic challenges is inconceivable. The journey to development has never been easy for any nation and it is always a long hard battle to turn promises into achievements. Bangladesh is a developing economy growing with an annual growth rate of around 6 per cent, striving to become a member of the middle income group. The per capita income and GDP size of Bangladesh are also growing with time. The country's economy is changing from traditionally agro-based to industry-based entity.

The country is making progress which is more or less visible. At the same time, it is also visibly clear that the growth is not inclusive. Economists have defined economic growth as the increase in the market value of the goods and services produced by an economy over time. It is conventionally measured as the percentage rate of increase in real gross domestic product, or real GDP. In our case, not all the people are getting better off, rather it is a group or few groups of people who are getting richer everyday and amassing wealth beyond measure. An average of the income of the common people and that of rising wealthy community may rise from time to time, but that does not indicate a real income growth.

Keywords: Social challenges of Bangladesh, Economic Challenges of Bangladesh, Socioeconomic Challenges

Suggested Citation

Abdin, Md. Joynal, Socio-Economic Challenges of Bangladesh (December 21, 2014). The Financial Express on December 21, 2014. Available at SSRN: https://ssrn.com/abstract=2544236

Md. Joynal Abdin (Contact Author)

DCCI Business Institute (DBI) ( email )

DCCI Building (11th Floor), 65-66 Motijheel C/A
Dhaka, 1000
Bangladesh

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