Ahammad Parvej Khan
Finance and Planning Minister Amir Khosru Mahmud Chowdhury on Sunday said that rejuvenating the fragile economy is the utmost priority of the government.
The Minister of the Ministry of Finance and Ministry of Planning has said that the country needs some more time to effectively tackle the challenges of LDC graduation. He has also said that there are clear directions in BNP’s election manifesto regarding tackling the challenges of LDC graduation.
The Minister made this remarks while speaking as the chief guest of the National Multistakeholder Consultation on Bangladesh Graduation Readiness Assessment held today in the capital.
Economic Relations Division (ERD), United Nations Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States (UNOHRLLS) and the UN Resident Coordinator Office in Bangladesh jointly organized the event.
Hon’ble Minister of the Ministry of Commerce Khandakar Abdul Muktadir, Adviser of the Ministry of Finance & Ministry of Planning Dr. Rashed Al Mahmud Titumir, Under-Secretary-General and High Representative of the UN-OHRLLS Rabab Fatima and State Minister of the Ministry of Planning Md. Zonayed Abdur Rahim Saki were present as special guests. ERD Secretary Md. Shahriar Kader Siddiky chaired the event.
It is notable that at the request of the Government of Bangladesh, the UNOHRLLS has recently carried out an in depth assessment on Bangladesh’s state of preparedness for LDC graduation through extensive consultations with government institutions, private sector, civil society, development partners, and the United Nations system.
Against this backdrop, the multistakeholder consultation was organized to deliberate on the findings of the assessment, reflect on emerging challenges, align stakeholder perspectives, and chart a coherent and forward-looking course of action to support Bangladesh’s graduation and post-graduation development trajectory.
Speaking on the occasion, Finance Minister said that the government had inherited an economy where all the macroeconomic indicators were showing downward trend.
‘We are simply fighting to salvage the economy’, he said.
He also noted that there is a capital scarcity due to the sorry state of the capital market.
Commerce Minister Khandakar Abdul Muktadir identified prudent debt management and expanding the tax net as crucial for regaining the economic momentum.
Adviser of the Ministry of Finance & Ministry of Planning Dr. Rashed Al Mahmud Titumir said that structural transformation, economic diversification, increasing the competitiveness and productivity enhancement are crucial for turning Bangladesh into a ‘Trillion Dollar Economy’ by 2034.
State Minister for Planning Md. Zonayed Abdur Rahim Saki said that the Government will place strong emphasis on preparing medium- and long-term development plans and strategies that explicitly address the challenges of LDC graduation.
Reflecting on the Government’s request for a three-year extension of the preparatory period, ERD Secretary Md. Shahriar Kader Siddiky underscored that this is not a departure from Bangladesh’s graduation ambition, but a strategic step to ensure a smooth, sustainable, and irreversible transition.
Dr. M. A. Razzaque and Dr. Daniel Gay delivered a presentation highlighting the major findings of the Readiness Assessment report.
Dr. Razzaque and Dr. Gay, in their presentation, identified a number of external and domestic development challenges Bangladesh had faced since 2017.
