Bangladesh’s economy is not growing as fast as before

By Daily Maverick Legacy 30 October 2009

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

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