UNB:
Bangladesh’s economy is under growing pressure as GDP growth slows, foreign investment declines and unemployment rises, raising concerns among economists and industry insiders that the economy could face long-term instability without urgent reforms.
According to the latest World Bank report, GDP growth for the current fiscal year may drop to 3.3 percent, the lowest in two decades.
At the same time, the Ministry of Finance reports that foreign investment fell by over 70 percent in the first six months of FY2024-25.
The World Bank’s April publication ‘Bangladesh Development Update’ warns that by 2025, an additional 3 million people may fall into poverty, driven by weak investment and growing internal challenges.
Dr Anu Muhammad, a former professor of economics at Jahangirnagar University, said public frustration is rising due to prolonged economic difficulties.
“After the fall of the Awami League, many corrupt business groups and money launderers fled. That was a major opportunity to restructure the economy, but it was missed. The same pattern of economic management continues, and it has yielded no positive results,” he said.
Industrial Police data shows nearly 100 factories in Gazipur, Narayanganj-Narsingdi and Savar-Dhamrai have shut down permanently, leaving more than 60,000 workers unemployed.
Investigations reveal that many investors during the Awami League regime are now in jail, have gone into hiding or fled the country. Due to lack of funds and fewer purchase orders, these factories were forced to cease operations.
“More than a hundred factory closures have rendered hundreds of thousands unemployed,” Dr Anu Muhammad added. “Many who fled after closing factories had enjoyed undue privileges during the previous government. While the beneficiaries should be held accountable, not ensuring alternatives for the workers shows poor judgement. This will have a direct impact on the economy.”
