Prominent economists have said that the government that is coming through eleven parliamentary elections will have to face 10 types of challenges.
These are: increased incentives including investment in private sector, corruption in the financial sector and prevention of money laundering, increasing fiscal revenues, cutting corruption and irregularities in the banking sector, reducing discrimination, creating skilled human resources, export diversification, enhancing creativity, including incentives, effective use of land and protection. Increase in public investment in the health and nutrition sector.
The new government will have to pay special attention to address these challenges. They said this on the closing day of a two-day-long research conference of Bangladesh Institute of Development Studies(BIDS).
In the conference titled ‘The Development Outlook-Key Message for the Next Governance’, the conference was held at LakeShore Hotel in Gulshan, Dhaka. Mohammad Farashuddin Former caretaker government adviser was the chief guest. Wahiduddin Mahmud
The special guest was a member of the General Economics Department (Senior Secretary) Shamsul Alam, Chairman of the Policy Research Institute (PRI) Jahidi Sattar, Professor of Dhaka University MA Taslim, World Bank’s Lead Economist Dr Zahid Hossain, Director of Bangladesh Institute of Governance and Management (BIGM) said. Mohammad Tareq, Professor Dr. Swapan Adanan
President’s speech. Mohammad Farashuddin said that both economics and politics work in Bangladesh as two superpowers. But politics always govern the economy. In this case, the political government has to give importance to the economy. Bangladesh may benefit from the United States and China’s trade war. That’s why skilled manpower should be created.
In the speech of the chief guest, Wahiduddin Mahmud said there is a political trade cycle. As the last few weeks, many projects hastily passed. It was not thought of how to finance their finances. This has been done to look at many of the many demands.
The next government will come and think about the funding of the projects. Besides, the increase in the election expenditure will increase inflation. There is some tension in overseas transactions. As a result, the reserve has decreased. The statistics bureau’s weakness or taxation with GDP growth.
The next government can re-evaluate The government is giving opportunities to corruption and injustice through political patronage, while simultaneously carrying welfare oriented ideas. The two paradoxes being together
It has to be evaluated. On the other hand, steps should be taken to remove irregularities in banking sector corruption. Revenue income should be increased. Tax evasion has to be stopped. To maintain the balance of the environment, to be industrialized. Workers will have to increase productivity. To take the second step of growth, merit will be cherished.
Dr. Shamsul Alam said that the work to start the eighth five-year plan will be started from March next month. In addition, the construction of a second-party plan from 2022 to 2041 will also be started. The government has taken initiative to prevent Bangladesh from falling into the middle-income trap.
Hundred years of delta plan has been created to tackle the impact of climate, perspective planning is being implemented, creating economic zones, making pigeon harbor and implementing mega projects are fast becoming a reality. The mega project day will be the next day. He said, there is no magic in the development of Bangladesh, there are plans, research and creativity.
Dr. Zahid Hossain said, Bangladesh economy is in middle-income highway. Now he will have to fuel accordingly. Moreover, Bangladesh will not be caught in the middle-income trap. There are short, medium and long-term challenges for the next new government.
These are: unrest in foreign financial markets, unrest in exchange rates, higher rates of interest in financial march, higher inflation in food products, increased export investment, private investment growth, reduction of discrimination, implementation of various reform initiatives, increase in creativity, infrastructure development, nutrition and health development, and efficient Make Manpower.
Dr. Zahidi Sattara said the government will have to pay special attention to the diversification of the economy. With the increase in the size of the country’s economy, high technology application, labor force must be linked to globalization.
Dr. Tareq said, when corruption in one country increases, it should not be left or neglected. The government should control it. If the GDP growth is to be taken in two digits in the next 10-15 years, the investment will have to be increased. Director General of BIDS KAS Murshid said, to make economic progress, the investment will have to be increased.
Binayak Sen said, “Negative situations are seen in many financial indicators.” The next government will have to look at them. Dr. MA Taslim said that the administration must be decentralized. Good governance, political stability, quality education should be ensured. Government investment in this sector has to be increased.