The white paper panel has revealed that Bangladesh’s economic growth has been overstated since 1995, with significant inflation of GDP estimates intensifying after the 2012-13 fiscal year. Despite being recognized as one of the fastest-growing economies, the panel described the country’s growth narrative as a “paradox,” underpinned by manipulated figures.
The report highlighted stagnant tax-to-GDP and private investment-to-GDP ratios, alongside inadequate resources for human development sectors like social protection, questioning the credibility of poverty alleviation claims. The panel analyzed GDP growth using international data, finding that corrected growth figures were consistently lower than reported ones, with the gap widening notably over the past decade.
Led by economist Debapriya Bhattacharya, the panel traced Bangladesh’s economic trajectory, noting relatively stable growth patterns until 2009. A sharp increase in average growth occurred after 2010, reaching 6.7% from FY14 and peaking at 7.3% in FY19. However, the report identified a slowdown in growth four to five years before the pandemic, challenging the “fastest-growing economy” narrative.
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