Defend Truth

Bangladesh’s economy is not growing as fast as before

Bangladesh’s economy is not growing as fast as before

The well-quoted global downturn is stalking another victim: the state of Bangladesh, whose growth is projected to slow down to 5% this year. The famously poor 38-year-old Asian state, has more than 160 million impecunious people scrambling for life on its 140,000 sq km that get flooded for a large part of the year. Yet the economy grew at the good pace for the last eight years, fuelled in large part by garment exports.  Exports of other kinds also helped the economy grow: Bangladeshi labourers in recent years flooded Dubai, Abu Dhabi and other rich Arab states, providing a dirt-cheap base for Gulf countries construction boom. Their remittances, a major source of foreign-currency income for Bangladesh, are down 30% from last year. Read more: AFP

Gallery

Please peer review 3 community comments before your comment can be posted

A South African Hero: You

There’s a 99.8% chance that this isn’t for you. Only 0.2% of our readers have responded to this call for action.

Those 0.2% of our readers are our hidden heroes, who are fuelling our work and impacting the lives of every South African in doing so. They’re the people who contribute to keep Daily Maverick free for all, including you.

The equation is quite simple: the more members we have, the more reporting and investigations we can do, and the greater the impact on the country.

Be part of that 0.2%. Be a Maverick. Be a Maverick Insider.

Support Daily Maverick→
Payment options