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Gathering more information on the informal sector is vital for making decision and comprehending the trends of the national economy, PM's economic affairs adviser Dr Mashiur Rahman said on Monday.
"Our informal sector is large enough. Even it integrates into the formal sector in many cases," he said.
The adviser also said that the national economy is now witnessing higher growth through rapid transformation and urbanisation is expanding with the industrialisation across the country.
He made the observations as the chief guest at a discussion hosted by the Bangladesh Bureau of Statistics (BBS) at its headquarters in Dhaka' Agargaon area, marking National Statistics Day-2023.
State minister of planning Dr Shamsul Alam attended the program as the special guest with statistics and informatics secretary Dr Shahnaz Arefin in the chair.
BBS director general Md Matiar Rahman also spoke there.
PM's adviser Mashiur said tracking the changes in economic activity is important as economy is growing fast through transformation in agriculture and industrialisation.
"Agriculture is adopting mechanisation in a faster way while industrialisation is also getting new technologies," he added.
The national income account can increase further if the informal sector is taken into consideration, according to Mr Mashiur.
He, however, said it was difficult to get data quickly as the economy was transforming quickly.
The adviser also laid emphasis on widening facilities for statistics professionals in order to encourage them to contribute more to public and private organisations.
In his speech, Mr Alam said the decade between 2013 and 2023 has been a golden one as the country's economy has shown remarkable growth during the period.
"The credit provided by the IMF to Bangladesh is a testimony to better economic management," he said, adding that even the amount is higher than that sought by the country from the lender.
The state minister further said that the country now needs to create more employment through expanding business and creating a favourable environment for businesses.
"Despite many achievements, there is a need for erecting further infrastructure," he added.
At the programme, Ms Arefin said appropriate statistics are important to prepare the right economic plan and understand the economic trends.
Meanwhile, Mr Matiar focused on the achievements made by the national statistical body in recent years.
"Different international organisations get data from the BBS to prepare 21 global reports," he cited.
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