Bangladesh among few economies which sees 5.5% growth in 2021: Kamal

PBC News:  Finance Minister AHM Mustafa Kamal has said though the global economy is expected to see a contraction of 3 per cent, Bangladesh is among the few economies which sees a positive growth rate of 5.5 per cent in FY2021.

Kamal stated it while delivering his key-note address virtually at the 3rd session of the Committee on MPFD of UNESCAP held on Wednesday in Bangkok.

He also called upon the Asia Pacific leadership to ensure universal and affordable access to vaccines for people across the region.

The finance minister made the call reiterating Prime Minister Sheikh Hasina’s call to the world community, in the just concluded 76th United Nations General Assembly (UNGA).

The third session of the Committee on Macroeconomic Policy, Poverty Reduction and Financing for Development (MPFD) of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) was convened on virtual platform owing to uncertainties related to the COVID-19.

Kamal joined the conference as a keynote speaker on a special invitation from the Executive Secretary of UN ESCAP. Its sessions are convened every two years and attended by Ministers and senior government officials from Asia-Pacific Countries, said a press release.

Mentioning that Bangladesh takes pride as the leading peacekeeping nation and for its contribution to global peace, Kamal said Bangladesh is also eager to contribute directly to other civil operational activities of the United Nations.

The finance minister shared the remarkable stories of Bangladesh’s development journey focusing on the key role of regional cooperation. He informed that COVID-19 brought enormous challenges to the development pathway, but due to the extraordinary leadership of Prime Minister Sheikh Hasina, Bangladesh is on its way to bringing back normalcy in its economy.

Kamal hoped that through evidence-based policy analysis, capacity-building, and demand driven regional advisory services, ESCAP can support Bangladesh to build resilience and deepen regional connectivity as well as in its efforts of strengthening regional cooperation for sustainable development through multidisciplinary analysis and support and in developing multi-stakeholder partnerships against global challenges.

He also welcomed the ESCAP’s proposal for establishing a thematic advisor’s group and hoped that it will be able to give country-specific macro-economic policy advice which will be helpful, to the member countries to design their appropriate macro-economic policies.

The committee discussed a range of economic policies and innovative financing strategies that are needed to cope with multifaceted challenges brought by the COVID-19.

The delegations from different countries expressed their opinion that enhancing the availability of financial resources and improving the alignment of available public and private investments with Sustainable Development Goals are critical in helping policymakers to transform their economies towards an inclusive, resilient, and sustainable development pathway.