The proposed national budget has drawn criticism from analysts for failing to address the critical needs of Bangladesh’s young population. Despite high unemployment rates, especially among graduates, and a growing number of youth falling outside education, employment, or training, the budget offers few concrete solutions.
A former employment advisor highlights the stark contrast between the government’s stated priorities and the reality reflected in the budget.
They emphasize the need for a “multi-pronged approach” encompassing fiscal, industrial, and trade policies to create a more robust job market. An economist warns that Bangladesh is missing a golden opportunity. A well-managed youth population can be a powerful economic driver, but without proper support, this “demographic dividend” will be lost. They point to the lack of follow-up on previous initiatives and question the effectiveness of a one-off allocation for skills development.
An expert from the Centre for Policy Dialogue acknowledges the focus on vocational training programs but emphasizes the need for increased private sector investment to create actual job opportunities. While skills development is important, a corresponding demand for skilled labor is crucial. The expert suggests a shift in focus towards the services sector, which has the potential to generate a significant number of new jobs in the post-Covid era. While the agricultural sector remains a major employer, Bangladesh needs a more diversified economy to provide opportunities for its growing young workforce.
An economics professor criticizes the government’s history of setting unrealistic job creation targets that are rarely met. They emphasize the need for transparency and accountability, focusing on actual employment outcomes rather than just the number of people trained. Bangladesh’s young population is a national asset, not a burden. The government must prioritize youth development with a comprehensive strategy that addresses skills gaps, fosters entrepreneurship, and encourages private sector investment. Only then can Bangladesh harness the full potential of its demographic dividend and secure a brighter future for its young people.