Fragile future productivity shows poor development scenario of Bangladesh
Potential future productivity of Bangladesh is lower than not only the global average but also the South Asian region and the lower-middle-income countries’ average, as per World Bank’s Human Capital Index (HCI) 2020. The recent Covid – 19 pandemic dealt a fresh blow to education and health across the globe, keeping about 50 million pupils indoors since March and exposing the fragile state of the health sector in Bangladesh. The prolonged closure of schools is feared to raise drop-out, along with child labour and child marriage rates too, while universities might face session jam, increasing cost and duration of higher studies — all will conjointly lower the future potential by two per cent.
The Covid-19 outbreak threatens hard-won gains in health and education over the past decade, especially in the poorest countries, which requires more investments in human capital – knowledge, skills, and health. These are key to unlocking a child’s potential and improving economic growth in every country. Bangladesh’s future productivity potential was 48% in 2018 which is now estimated at only 46%. The index puts the global average of a child’s potential productivity as a future worker at 56%, while the South Asian average is about 48%. Meanwhile, for a child born in a high-income country, this figure would be 70%.
Children born in Sri Lanka today would be the most productive among South Asian countries, reaching around 60% of their full potential. Singapore topped the index with 88% of human capital potential, as the country was highly rated for its universal healthcare system, world-class education system and life expectancy figures.
The pandemic has created concern for Bangladesh’s health and education system. The education sector’s performance was declining without the impact of the pandemic and the country’s health sector did not see any improvement compared to the previous edition of the Human Capital Index. If malnutrition is not eliminated, productivity will not increase as there is a link between good health and productivity.
There is a need for ambitious and evidence-driven policy measures in health, education, and social protection sectors. Such measures may pave the way for today’s children to surpass the human-capital achievements and quality of life of the generations that preceded them.
The Covid-19 outbreak threatens hard-won gains in health and education over the past decade, especially in the poorest countries, which requires more investments in human capital – knowledge, skills, and health. These are key to unlocking a child’s potential and improving economic growth in every country. Bangladesh’s future productivity potential was 48% in 2018 which is now estimated at only 46%. The index puts the global average of a child’s potential productivity as a future worker at 56%, while the South Asian average is about 48%. Meanwhile, for a child born in a high-income country, this figure would be 70%.
Children born in Sri Lanka today would be the most productive among South Asian countries, reaching around 60% of their full potential. Singapore topped the index with 88% of human capital potential, as the country was highly rated for its universal healthcare system, world-class education system and life expectancy figures.
The pandemic has created concern for Bangladesh’s health and education system. The education sector’s performance was declining without the impact of the pandemic and the country’s health sector did not see any improvement compared to the previous edition of the Human Capital Index. If malnutrition is not eliminated, productivity will not increase as there is a link between good health and productivity.
There is a need for ambitious and evidence-driven policy measures in health, education, and social protection sectors. Such measures may pave the way for today’s children to surpass the human-capital achievements and quality of life of the generations that preceded them.
