Bangladesh Development Update, October 2019 : Tertiary Education and Job Skills
Bangladesh economic expansion continued in FY19, supported by rising exports and record remittances. Inflation remained within the 5.5 percent target, supported by bumper rice harvests. Broad money growth increased marginally. Private sector credit...
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| Language: | English |
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World Bank, Dhaka
2019
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| Online Access: | http://documents.worldbank.org/curated/en/898311570637318738/Bangladesh-Development-Update-Tertiary-Education-and-Job-Skills http://hdl.handle.net/10986/32533 |
| Summary: | Bangladesh economic expansion continued
in FY19, supported by rising exports and record remittances.
Inflation remained within the 5.5 percent target, supported
by bumper rice harvests. Broad money growth increased
marginally. Private sector credit growth was weak and bank
liquidity remains constrained. Non-performing loans
continued to rise in the banking sector. The current account
deficit declined with higher export and lower import growth.
Bangladesh Bank interventions moderated the depreciation of
the taka against the US dollar, but the real effective
exchange rate appreciated. The fiscal deficit has reached
4.6 percent of GDP as expenditure increased and revenue
collection remained below target. Recent tax policy
adjustments are likely to constrain revenue growth in the
near term, while additional subsidies will increase
recurrent expenditure. Sustaining growth will require
momentum on the reform agenda to address challenges in the
business climate, public investment management, revenue
mobilization, and the resolution of fragile banks. Economic
transformation will require development of new skills in the
workforce. Tertiary educational institutions can support
this agenda if quality, relevance, and access challenges are addressed. |
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