Political stability big challenge to continue growth: ADB 

| Updated: May 05, 2018 09:53:37

Political stability big challenge to continue growth: ADB 

The Asian Development Bank (ADB) has said maintaining political stability in Bangladesh remains a big challenge for the country to continue the current development trend.

"It's a big challenge for Bangladesh how it will maintain political stability. Political stability is very important," said ADB's Director General of South Asia Regional Department Hun Kim.

Kim said, with political stability bureaucrats become more accountable and the empowered ones will enable the development trend to continue.

He made the remarks while talking to UNB agency on Friday on the sidelines of of the ongoing annual meeting of ADB.  

"From our experience, as we work on the ground, we can say if there's a good man - project director - committed to a particular project, that project succeeds. But that person has to be empowered," said the ADB senior official.

Kim said Bangladesh just needs to continue the growth trend. "I'm very optimistic about Bangladesh."

"Bangladesh is doing very well. It can take fast decisions. With the increased capacity of bureaucracy, Bangladesh is willing to take bigger investments," he added.

Bangladesh's economy registered a record high growth rate of 7.3 per cent in 2017 as higher farm and wage incomes lifted private consumption, according to the ADB Annual Report 2017.

The report says public investment has improved, although remittance inflows declined and exports have stagnated.

Bangladesh growth, according to the ADB, was mainly driven by service industries, although agriculture, small-scale manufacturing and construction also made contributions.

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