Voicing concern over the high rate of growth in GDP failing to meet expectations in terms of job creation, experts at a workshop Thursday said the country's economy may soon have to face the adverse effects of the uneven form of growth it is experiencing.
"The country's employment rate does not increase like GDP growth in Bangladesh. So an inequality in economy is shown here now. It may arrest the country's development in near future considering the existing global economy. So the sooner it is addressed the better," said Prof Mustafizur Rahman, Distinguished Fellow of leading think-tank Centre for Policy Dialogue, while addressing a media camp on the sustainable development goals at the Brac CDM in Savar.
CPD organised the workshop in association with the Swiss Agency for Development and Cooperation (SDC), Citizens Platform for SDGs, Bangladesh – an umbrella network of organizations working on the SDGs, and The Asia Foundation.
CPD hosts the Secretariat for the Citizens Platform.
Dr Mustafiz held up good governance as a key to reducing inequality, and facilitating quality of growth.
“We should emphasise quality for sustainable growth," Dr Mustafiz also said.
Dr Fahmida Khatun, Executive Director of CPD, also focused on the increase in income disparity relative to GDP growth, saying it will significantly affect the sustainable growth of the economy.
"Climate change is a challenge for Bangladesh, because it impacts the country's economy. Population is growing here, on the other hand, many old jobs or positions are being subsumed by the Fourth Industrial Revolution (4IR). Besides, various facilities the country avails at present, will be taken away after LDC graduation. So there are many challenges ahead for the economy," she also said.
She warned that inequality can further increase here if the government does not take proper initiatives now.
Special Correspondent with a focus on economic affairs for vernacular daily Prothom Alo Shawkat Hossain Masum, speaking as mentor at the camp for journalists, said good governance, democracy and strong institutions are very important for sustainable economic growth – and Bangladesh has a long way to go on all three fronts.
CPD Distinguished Fellow Dr Debapriya Bhattacharya was present at the two-day event, that was followed by a certificate awarding ceremony for the participants and a cultural event.
The Sustainable Development Goals (SDGs), also known as Agenda 2030, is a set of targets under characterized goals set out by the United Nations to be achieved by 2030. A total of 193 countries including Bangladesh have accepted this development agenda.