Dhaka: Bangladesh Institute of Development Studies (BIDS) Director General Dr. A. K. Enamul Haque has described Bangladesh's current economic condition as 'full of potential,' saying sustained investment and steady growth could transform the country into a near trillion-dollar economy within the next decade.
According to Bangladesh Sangbad Sangstha, Dr. Enamul Haque emphasized the importance of maintaining a minimum six percent economic growth rate over the coming years to achieve Bangladesh's long-term development ambitions. "If Bangladesh can maintain around 6 percent real growth consistently, the economy could approach a trillion dollars by the early 2030s," he said. Finance Minister Amir Khosru Mahmud Chowdhury has already reaffirmed the government's goal of transforming Bangladesh into a trillion-dollar economy by 2034.
Dr. Enamul noted that with inflation included, Bangladesh's nominal growth could remain around 12 percent annually. "At that pace, the size of the economy could nearly double within five to six years," he added, stressing that private sector investment would play a decisive role in sustaining growth momentum. "The government alone can't achieve this. Private sector participation and real investment are essential," he said.
He also emphasized the need for balanced regional development to ensure economic expansion does not remain overly concentrated in Dhaka. "Bangladesh's growth should not remain Dhaka-centric. Every district has equal rights to development," he said, advocating for improved urban planning and stronger secondary cities to reduce pressure on the capital.
On the banking sector, Dr. Enamul stated that restoring public confidence should become the top priority for the Bangladesh Bank. He warned that "if people lose trust in banks, they will stop keeping money in the financial system." He recommended stricter accountability mechanisms and allowing poorly managed banks to face consequences if they fail to improve within a specified period.
Referring to governance standards in the financial sector, he said stronger rule of law is necessary to regain public confidence. "People need assurance that their deposits are protected and wrongdoing is punished fairly," he added. On the capital market, he stressed that meaningful recovery would require broader reforms across the financial sector and governance system.
Dr. Enamul also highlighted the importance of improving project selection and reducing corruption in public spending. He called for stronger professional evaluation of development projects, including deeper analysis of social benefits and long-term economic returns, emphasizing that the government's Annual Development Programme (ADP) should focus on selecting and implementing the right projects on time.
In conclusion, Dr. Enamul stated that the FY27 budget should primarily focus on building the foundation for sustainable long-term growth. "The main target should be preserving economic growth momentum for the next five years," he added.