The government is expecting the official announcement of the country’s promotion as a lower middle income country in March. Already it has started to give a wide number of statistics forecasting that by March 2025 Bangladesh would become a full-fledged middle income and a developing country – which is some seven years away from now. Undeniably, the government is hell-bent to showcase seemingly its ‘tales of development and prosperity’ and capitalise on them just before the next parliamentary polls. Practically the country may or may not qualify for the lower middle income country but given the frequent media coverage, it appears – the ruling party will, by hook or by crook, convince the public that the country has already become a developing country.
The point, however, is that even if Bangladesh gets the recognition, it would just be a statistical milestone.
This status would hardly overshadow the growing inequality, unemployment and lack of good governance in the country.
According to the recent Economic Relations Division (ERD) report, three major indicators for the country’s promotion to a lower middle income nation from the least developed status were doing well. The ERD’s appraisal at the weekly cabinet meeting presided over by the PM at the Prime Ministers’ Office (PMO) was based on the country’s per capita income, human asset index and economic vulnerability. Interestingly, these indicators do not any how reflect the actual situation of rule of law, good governance, functioning of democracy and safety and security issues of the public.
People want peace, safety and jobs and not tales of development that has not improved their life.
The truth is: growing inequality of rich and poor could not be checked over the last two decades despite steady growth in per capita income. And so, majority of the population has not been benefitted from the economic growth. Such criterion only provides a tunnel vision of the country’s actual position, whereas other indicators on inequality, employment, private investment and efficiency of quality expenditure etc are left out. The country’s status promotion, which is likely to be imminent, would be more meaningful had our successive governments could establish rule of law, good governance and ensure quality education and health for the majority of the people.
Our people want to know how their life has been improved under this government.
