Poverty reduction and economic growth

Bangladesh: a case study in success

Poverty in Bangladesh has been more than halved over the past 25 years. It is the government’s avowed intention to make Bangladesh a Middle Income Country, free of hunger and poverty. And the country is well on the way to achieving that: in 2015 it was granted Lower Middle Income Country status, and in 2018 it was declared a Least Developed Country. Economic expansion in Bangladesh has been robust during the last ten years. In fiscal year 2019 the economy grew by 8.2 % – the highest rate in the Asia-Pacific region.

In 2020 the gross domestic product per capita was estimated at about 1,970 US dollars. In 2021 it’s projected to reach about 1,990 US dollars. To put this growth in context: in 1960 it was just 89.035 US dollars.

All of which means that the standard of living has risen, and access to education and health services has distinctly improved. More people are finding a way out of poverty. Nevertheless Bangladesh remains one of the...(more in the book)