Dhaka, Friday, 30 October 2020

Bangladesh to be among top global GDP contributors

Bangladesh to be among top global GDP contributors

Staff Correspondent :Bangladesh will be among the top 20 contributors to the global GDP by 2024, said Finance Minister AHM Mustafa Kamal. The country will contribute 0.9 percent to the world economy, which would be the same as Canada, a developed country, he said in a meeting with a World Bank delegation at his office on the planning ministry premises. Kamal’s proclamation is based on a Bloomberg report.

The global economy is expected to grow at 3.6 percent through to 2024, according to the International Monetary Fund’s projections.

Bloomberg used IMF projections, adjusted for purchasing power parity, to dissect where this growth will come from. Referring to the Bloomberg analysis, the minister said the highest contribution to the world economy will be from China at 28 percent, followed by India at 13.7 percent and the US at 10.5 percent, he added.

Global growth will increasingly come from Asian emerging markets, according to Bloomberg. Russia will play a larger role in global growth than many Group of Seven countries including Germany, Japan, the UK, France, Spain or Italy.

At the meeting, Dandan Chen, country director in-charge of the WB, appreciated Bangladesh’s economic growth, support to the Rohingyas, financial sector reforms and women employment, according to a press statement issued by the finance ministry.