The World Bank says Bangladesh’s economy is going ahead but is yet to tap its full potential.
The evaluation of the global lending agency came out loud and clear in its report ‘Bangladesh Development Update’ published on Tuesday.
The World Bank expressed fear of political uncertainty in the days to come.
Its Bangladesh office Chief Economist Zahid Hossain presented different aspects of the report at a press conference in Dhaka on Tuesday. The agency’s Country Director for Bangladesh Johannes Zutt was present at the press meet.
The Washington-based lender observed that Bangladesh performed well in poverty eradication, human resources development and manpower export.
Though it praised the developments in power and gas sector, it expressed dissatisfaction over progress in transport and communications.
After the World Bank scrapped its plan to finance the Padma bridge project, it advised the government to finish the project work promptly.
The agency forecast 6.2 percent GDP growth in the current 2014-15 fiscal year, but feared an increase in food inflation.
Evaluating the overall economic condition, Hossain said: “Bangladesh is advancing, but at a pace, which is less than its potential.”
“Development has taken place in power and gas sector. But no development has taken place in road communications. Travel from Dhaka to Chittagong is now taking more time than it would take a year back.”
Source: benews24
