Accelerating Growth and Reducing Poverty, Strategic Directions and Policy Framework
Over the past 40 years since independence, Bangladesh has increased its real per capita income by more than 130 percent, cut poverty rate by sixty percent, and is well set to achieve most of the millennium development goals. Some of the underlying specific achievements include, reducing total fertility rate from 7.0 to 2.7; increasing life expectancy from 46.2 years to 66.6 ; increasing the rate of economic growth from an average rate of 4% in the 1970s to 6% in the 2000s; increasing the savings and investment rates from below 10 percent each in the 1970s to 24 percent (investment rate) and 30 percent (savings rate) in FY10; achieving gender parity in primary and secondary education; and more than tripling of the production of rice (from 10 million tonnes in FY73 to 32 million tonnes in FY10) thereby achieving near self-sufficiency in normal production years. The economy today is lot more flexible and resilient, as indicated by the ability to withstand the global financial crisis with minimum adverse effects. Bangladesh also is now much more capable of handling natural disasters with minimum loss of life. Bangladesh achieved this remarkable progress with development despite numerous internal and external constraints.
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