CPD RMG Study Stitching a better future for Bangladesh
The Growth Lab at Harvard Univerity’s Center for International Development very recently published the new 2025 Global Growth Projections, where Bangladesh was placed in the low growth category. The research organization works with the aim to understand the dynamics of growth and to translate those insights into more effective policymaking in developing countries. The initiative is a part of the Harvard Univerity’s think tank- Center for International Development (CID). They publish the Economic Complexity Index Rankings by country measuring the average complexity of their export basket. Taking the index into account they try to create a future growth projection for the countries involved.
The researchers from the think tank maintain that their economic complexity can predict future growth five times more accurately than the world economic forum’s global competitiveness index. In contrary to some other forecasts the report put Bangladesh at a lower growth category. It projected that Bangladesh economy would grow by 2.82 per cent annually on average until 2025. Other countries included in the low growth category were Ecuador and Guinea.
The data revealed a decline in China’s exports and predicted further slowdown along with a continued slowdown in global growth over the coming decade. India and Uganda were projected as the fastest growing economies for different reasons.
