Bangladesh to emerge as 25th largest economy in 2034: CEBR

Bangladesh will climb from the 40th place in the World economic league table in 2020 to 25th by 2034 if the economy grows at around 7.3 per cent for nine years after 2025, according to a forecast of Centre for Economics and Business Research (CEBR).

The economy of Bangladesh performed well in 2019, expanding by an impressive 7.8 per cent with a PPP adjusted GDP per capita of $5,028, said the London-based think tank.

The population of Bangladesh has risen at a rate of just 1.0 per cent per year since 2014. This has meant that per capita incomes have grown considerably in recent years, it said.

Government debt as a share of GDP rose to 34.6 per cent in 2019, up from 34.0 per cent in 2018. Despite this increase, the public sector finances remain in good shape.

The relatively low debt burden has provided the government with the fiscal headroom to operate a budget deficit of 4.8 percent in 2019, said CEBR.