Reported by: Mesbah Ullah Shimul

Written by: Eshan Maitra

Bangladesh had one of the most amazing growth rate in past years. But, the gradual low remittance flow may break this streak next year and decelerate allover GDP growth. United Nations Economic and Social Commission for Asia and the Pacific – ESCAP, published such analysis in their ‘Economic & Social Survey of South and Pacific’ report. Economy Official Shudip Ranjan Basu from ESCAP Bangkok Division, officially discussed this in a recent seminar event at Agargaon IDB Building. UN Resident Ambassador Robert Watkins and BIDS General Director KAS Murhsid were present at the event as well.

The report mentioned that, Asia and the Pacific region may have 4.9 to 5.1 percent increase in GDP growth. But, the economic conservative rules may get stricter in Bangladesh, in the upcoming year. ESCAP also believe that, current low remittance flow might be an internal issue. When the new VAT laws will be in-effect, they would hardly affect the economy of the country in a positive way. With only 32,000 registered VAT-payers paying only 15% VAT, shares KAS Murhsid.

Again, Bangladesh had most impressive economic run in recent years. Having over 6 percent consecutive GDP growth only ensures the high economic stability and strength of a country, admires Rober Watkins. The report also mentions, even if the growth rate decreases, it will not be less than 6.5%.