Bangladesh Economy

[hydrabadi_arab]

@LeonBlack08

So essentially, there is and will be no correction of the (allegedly) inflated GDP numbers. Btw, I too do think the BD GDP numbers are a bit inflated although not to the extent suggested by the detractors of SHW.

Regards

Bangladesh have started work on new GDP rebasing.

BBS begins GDP rebasing to reflect changing economy​

The Bangladesh Bureau of Statistics (BBS) has begun the process of rebasing the country’s gross domestic product (GDP), a major statistical overhaul aimed at capturing the rapidly evolving economy by incorporating new sectors, updating economic weights, and aligning national accounts with the latest international standards.

Officials at the country's national statistical agency say the exercise would adopt the fiscal year 2025-26 as the new base year, replacing the current 2015-16 benchmark.

The revision is expected to provide a more accurate measure of the size and structure of the economy, which has undergone significant transformation over the past decade.

"We have launched the GDP rebasing work," a senior BBS official told The Financial Express on Thursday.

The official said field surveys and data collection had already begun in several key sectors, including real estate, residential housing, and non-residential buildings.

More than 20 additional surveys will be required before the statistical agency can compile the revised national accounts.

The BBS has yet to announce when the revised GDP series will be published, as the exercise will require the completion of extensive nationwide surveys, data validation, and methodological reviews before the new estimates are finalised.

But the official said the rebasing adjustments would be seen in the 2028-29 fiscal year, adding, "Actually, at least two years are needed to complete the rebasing works."

GDP rebasing is a routine statistical exercise undertaken roughly every 10 years to ensure that national accounts reflect changes in production patterns, consumer behaviour, and the emergence of new industries.

The process updates the relative importance - or weights - of different sectors in the economy while incorporating economic activities that may have been previously undercounted or excluded.

The exercise will follow the internationally recognised System of National Accounts (SNA 2025), developed jointly by the International Monetary Fund (IMF), the United Nations (UN), the World Bank (WB), the Organisation for Economic Co-operation and Development (OECD), and the European Commission.

 

[BananaRepublic]

Bangladesh have started work on new GDP rebasing.

BBS begins GDP rebasing to reflect changing economy​

The Bangladesh Bureau of Statistics (BBS) has begun the process of rebasing the country’s gross domestic product (GDP), a major statistical overhaul aimed at capturing the rapidly evolving economy by incorporating new sectors, updating economic weights, and aligning national accounts with the latest international standards.

Officials at the country's national statistical agency say the exercise would adopt the fiscal year 2025-26 as the new base year, replacing the current 2015-16 benchmark.

The revision is expected to provide a more accurate measure of the size and structure of the economy, which has undergone significant transformation over the past decade.

"We have launched the GDP rebasing work," a senior BBS official told The Financial Express on Thursday.

The official said field surveys and data collection had already begun in several key sectors, including real estate, residential housing, and non-residential buildings.

More than 20 additional surveys will be required before the statistical agency can compile the revised national accounts.

The BBS has yet to announce when the revised GDP series will be published, as the exercise will require the completion of extensive nationwide surveys, data validation, and methodological reviews before the new estimates are finalised.

But the official said the rebasing adjustments would be seen in the 2028-29 fiscal year, adding, "Actually, at least two years are needed to complete the rebasing works."

GDP rebasing is a routine statistical exercise undertaken roughly every 10 years to ensure that national accounts reflect changes in production patterns, consumer behaviour, and the emergence of new industries.

The process updates the relative importance - or weights - of different sectors in the economy while incorporating economic activities that may have been previously undercounted or excluded.

The exercise will follow the internationally recognised System of National Accounts (SNA 2025), developed jointly by the International Monetary Fund (IMF), the United Nations (UN), the World Bank (WB), the Organisation for Economic Co-operation and Development (OECD), and the European Commission.

This is excellent news.

Given how quickly Bangladesh has transitioned to an export led economy, under Hasina.

It’s important to reflect the changing parameters.

It should also take out the unhinged poison towards the GDP numbers from some unhinged quarters.

 

[BananaRepublic]

@LeonBlack08

Good initiative on part of the BNP govt to promote domestic semiconductor industry.

S&P cuts Bangladesh outlook to negative on growth concerns​

S&P's rating on BD was BB- (stable) till June 2024. So obviously, the Yunus govt didn't do anything good to the BD economy.

Regards

Both of these were my worries for BNP.

1. BNP Governments have been characterised by low growth mainly because of anti India policies and excessive role of military in the political and economic sphere.

2. The second problem is hubristic and nationalistic industrial policies.

E.g. wasting money on low jobs semiconductor industry.

Bangladesh needs jobs.

And that can only come from low tech manufacturing.

Scarce resource needs to be directed at building supply chains and vocational training.

Bangladesh needs to stick to the economic and geopolitical strategy of Hasina.

Otherwise, BD will be back to low growth.

 

[AbuShalehRumi]

So I am not really too harsh on them for messing up the economy

What exactly they messed up?
.
Did the IG Yunus administration went to IMF with begging bowl? Nope. It was the deposed awami terrorists who went to IMF with begging bowl for pennies after they finished eating our banking sector and siphoned ~250 billions.
.
Nobody begs to IMF with a super duper economy. IG inherited a destroyed economy and they almost fixed our destroyed banking sector. The main source of our economic slowdown...

 

[LeonBlack08]

What exactly they messed up?
.
Did the IG Yunus administration went to IMF with begging bowl? Nope. It was the deposed awami terrorists who went to IMF with begging bowl for pennies after they finished eating our banking sector and siphoned ~250 billions.
.
Nobody begs to IMF with a super duper economy. IG inherited a destroyed economy and they almost fixed our destroyed banking sector. The main source of our economic slowdown...

True. They inherited a rotten economy in the first place.

"Messed up" is wrong choice of words, probably did not manage it well would be more appropriate. Either way - their main job was to ensure the transition happen. Not really lead the country. That's the responsibility of an elected government.