In the last 50 years, Bangladesh has been an example of growing development but benefits have not yet reached all sections of people, said Debapriya Bhattacharya, convener of the Citizen's Platform for SDGs, Bangladesh.
He said that the failure of public institutions to protect the rights of disadvantaged groups and citizens can be attributed to a dearth of democratic accountability and good governance.
Ensuring a democratic transition is crucial to building an inclusive and sustainable economy that benefits everyone. It is important to prioritise the participation of all stakeholders in this process in order to achieve the common goals, the noted economist said.
While making a presentation at a book launching event titled "Bangladesh's Development Narrative and the Parallel Realities," organised by the Citizen's Platform for SDGs in Dhaka's KIB Auditorium, Debapriya Bhattacharya also said that there are several factors which prevent development initiatives from reaching the public.
These factors include income and expenditure inequality, inefficiencies within government institutions, corruption and a lack of accountability.
According to the economist, the country has seen the emergence of an oligarchic society where a few individuals have amassed great wealth and political power.
Between 2010 and 2022, the poverty rate in the country dropped from 31.5 per cent to 18.7 per cent. During the same period, there was a 9 per cent increase in income inequality.
The poorest 10 per cent only receive 1.31 per cent of the total income while the richest 10 per cent receive a staggering 41 per cent. Additionally, the rising income inequality has contributed to a 4 per cent rise in expenditure inequality over the last 12 years. The data suggests a concerning trend towards greater disparity in income and expenditure, he added.
Debapriya Bhattacharya noted that there has been improvement in the indicators such as GDP, national income, export remittance, health and education, but not everyone has benefited equally. Discrimination in sector, population and area has prevented some from experiencing such developments.
“This is due to a lack of transparency and accountability, preventing people from advocating for their rights,” he said, adding that although the economy has improved, there are still inconsistencies in some indicators.
For instance, he said, private sector investment has remained at 23 per cent of GDP for several years, lower than the average of 30 per cent in lower middle income countries. Additionally, the allocation of less than 2 per cent of GDP in the health sector, 1 per cent in education, and 2.52 per cent in social security is considered to be insulting, he added.
In his speech, the economist also highlighted various socio-economic issues like unemployment, regional discrimination, violence against women, environmental hazards, inefficiencies in government institutions, degradation of values and widespread corruption.
He further said that fair distribution of government resources is not ensured due to corruption and inefficiency at grassroots level. To tackle these issues, he recommended 11 solutions, including the restoration of democracy to achieve balanced and inclusive development.
Cultural personality Mamunur Rashid said, "As a nation, we have been striving to improve living conditions for a long time. But there are individuals who engage in money laundering and take funds away from our country, making places like America, England, and Malaysia more habitable.”
CPD's Board of Trustee Chairman Prof Rehman Sobhan presided over the event which was attended by the platform's core group members, NGOs and private sector representatives.
