Educational
Development of Bangladesh
Despite the impressive improvements,
many problems plague the education system. Its quality is weak with a huge
rural/urban gap and not relevant to market needs. Tertiary education and
vocation studies have been largely neglected. The IT revolution, which has
benefited India and, to a lesser extent Pakistan, has largely bypassed
Bangladesh.
Achievements of economic development
in Bangladesh In different sectors: (Since 1971-2007)
- Bangladesh’s first five-year plan (1973–78) aimed to increase economic growth by 5.5% annually, but actual growth averaged only 4% per year.
- A special two-year plan (1978–80), stressing rural development.
- Projected growth target, as did the second five-year plan (1980–85)
- targeted 7.2% annual growth.
- The third five-year plan (1985–90) had a5.4% annual growth target though only 3.8% was actually achieved.
- Political turmoil from 1994 to 1996 helped reduce the final average annual growth rate under the Fourth Five Year Plan (1990–1995) to 4.15% (short of the 5% target)
- The 1996 elections brought renewed economic stability.
- Economic plan Exports grew 14% 1996, and GDP growth for 1996/97 rose to 5.5% as the economy rebounded.
- Average annual GDP growth under the Fourth Five-Year Plan rose to 5.3%.
- Historically, Bangladesh has received foreign aid disbursements equivalent to about 6% of GDP, have lately declined to amount equaling 3–4% GDP.
- The revenue to GDP ratio rose in 2001 from 8.5% to 9.4%, but this improvement was more than offset by expenditure to GDP ratios of 14.4% and 14.1%, creating budget deficits amounting to 5.9% and 5%, in 2000 and 2001 respectively.
- Domestic borrowing contributed to reducing the foreign exchange cover for imports to imprudent levels of two months in 2000 and one-anda-half months in 2001.
- The drain on foreign reserves from For 2001/02.
- Over 60% of the country’s total land area is cultivated and about 63% of the economically active population derive their livelihood from farming.
- Underweight children under five years old as a percent of the total dropped only 10%, from 66% to 56% between the period 1990–92 and 1998–99.
- Agriculture still accounts for almost 30% of the GDP, although this proportion has dropped significantly from 50% in 1979/80, as services have grown from 34.4% to 52%. Industry’s share has increased only from 15.9% to 18%, according to CIA estimates.
- Political instability and a lack of continued economic reforms pushed inflation to5.2% in 1995.
- Indicators were promising as of 1997, the government’s delay in instituting needed reforms threatened to slow economic advances. Inflation rose to 7%, while GDP had slowed to 4%.
- The economy grew strongly during 1998, real growth reaching 5.4% as flooding, instead of devastating the economy, brought in some much needed foreign aid.
- The military budget in 1996–97 was $559 million or 1.8% of GDP. Bangladesh participated in eight UN peacekeeping missions.
- Saving and investment rates, currently at about 24%, are relatively high compared with other countries at similar income levels.
- A quarter of the population now lives in urban areas, while in 1960 the number was just 5%. Fifty percent of GDP is spent on urban activities.
- Bangladesh is one of the most closed economies in the world. The country should take into account how a reduction in tariffs will affect revenue considering that tariffs constitute about 50% of the already weak tax collection effort.
- The IT revolution, which has benefited India and, to a lesser extent Pakistan, has largely bypassed Bangladesh.
- The government reconstituted the National Women’s Development Council in January 1997, to provide overall guidance on women’s development issues.