👉Bangladesh Economy is Booming -- Could it become the next Asian Tiger ? GORKHA REACTIONS
Автор: Kaushal Rizal
Загружено: 2020-06-09
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👉Bangladesh Economy is Booming -- Could it become the next Asian Tiger ?
Bangladeshi economy is doing very well in recent times, growing about 8 percent per annum, and currently, it is one of the fastest-growing economies in the world. Being one of the fastest doesn't mean everything about business is good here as Bangladesh is continuously ranked almost bottom of the Ease of Doing Business Index made by the World Bank. The economy of Bangladesh is a developing market economy. It's the 39th largest in the world in nominal terms, and 29th largest by purchasing power parity; it is classified among the Next Eleven emerging market middle income economies and a frontier market. In the first quarter of 2019, Bangladesh was the world's seventh fastest-growing economy, with a rate of 7.3% real GDP annual growth. Dhaka and Chittagong are the principal financial centers of the country, being home to the Dhaka Stock Exchange and the Chittagong Stock Exchange. The financial sector of Bangladesh is the second largest in the subcontinent, although Bangladesh is one of the world's fastest-growing economies. It is usually overshadowed by regional superpowers India and Pakistan. But the nation, which was once called a "basketcase," is now being termed as the new "Asian tiger," all thanks to its economic growth. As for the first time, Bangladesh's GDP of $317 billion in 2019 has surpassed that of Pakistan. With a GDP growth rate three times that of Pakistan, Bangladesh is sure to increase this lead over Pakistan in leaps and bounds going forward. Bangladesh was carved out of Pakistan in 1971. The comparison of the two economies has since been of immense importance to economists. Having a rough start, Bangladesh had ends to meet during the early years of independence from Pakistan, but over the years, they saw a massive boom in their economy. Some economists also term Bangladesh as the next Asian Tiger while Pakistan has a fairly unstable economic situation. Not only that, but according to some experts, Bangladesh economy to outshine Malaysia, Singapore, Hongkong by 2024.
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