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Citation Information

Type Journal Article - International Journal of Economics, Finance and Management Sciences
Title Impact of Macroeconomic Variables on Economic Development of Bangladesh Since Liberation War: An Empirical Study
Author(s)
Volume 3
Issue 3
Publication (Day/Month/Year) 2015
Page numbers 179-193
URL http://article.sciencepublishinggroup.com/pdf/10.11648.j.ijefm.20150303.15.pdf
Abstract
The devastating economic situation after liberation war of Bangladesh in 1971 can again be transpired during the
current as well as future democratic rulers as the state of the economic condition is currently facing possibly the most severe
exigency since the macro-economic crisis of the late 1980s. The twin shocks emanating from the yawning fiscal deficit and
deteriorating balance of payments have exposed the entrenched vulnerabilities of the Bangladesh economy, putting under
threat the achievement of the 1990s. A large part of these stresses and strains are underpinned by the fundamental structural
weaknesses which characterize the Bangladesh economy. But the pressures have been accentuated by a benign neglect in
undertaking necessary reform measures to improve the competitiveness of the economy. Bangladesh is a developing country in
the South Asia. Its illiterate and unskilled large population is a burden to the country. Agriculture is the main source of the
income of the country. Government of the country is taking various steps to decrease poverty, but yet about one-third of people
of Bangladesh are living below the national poverty line. More than half of the children of Bangladesh are underweight. The
gross domestic product (GDP) is hovering around 6% for the last decade. Migrated labor and send remittances were on the
increase. Conversely, inflation, government debt and GDP growth are nothing to write home about. Shortage of electricity and
gas supplies, poor road network, bridges and ports, political unrest and natural calamities are major problems in national
production and economic development. Debt burden of the government is increasing rapidly over time due to increase in the
budget deficit. Both the internal and external debts of the government are increasing every year. Among the various obstacles,
Bangladesh is advocating for poverty reduction by means of improving the quality of education and promoting gender equality.
This has led to an achievement of reduction in child mortality and improvement in maternal health.

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