Rajbari:Inflation has significantly impacted low- and middle-income residents in Bangladesh, with an estimated 8 million to 10 million individuals now below the poverty line, according to Rashed Al Mahmud Titumir, Prime Minister's Adviser on Finance and Planning.
According to United News of Bangladesh, Titumir highlighted a World Bank report, noting that the implementation of family cards and farmer cards has been recognized as groundbreaking by both the International Monetary Fund (IMF) and the World Bank. These initiatives are anticipated to alleviate poverty and reduce hardships for the population.
Titumir made these comments during a meeting organized by the Rajbari District Administration at the Rajbari Municipality auditorium. Rajbari District Council Administrator Abdus Salam Mia was also present at the event.
He further discussed the country's economic challenges, including high inflation, rising unemployment, and weak private-sector investment. The Middle East crisis has exacerbated these issues by increasing fuel prices. Titumir also spoke about misleading information regarding GDP circulating on social media.
Titumir criticized the previous government for failing to expand solar energy, explore domestic gas resources, and ensure sustainable energy security. He noted that cronyism and patronage have weakened the economic system, and approximately US$40 billion is needed to repair the banking sector.
The adviser emphasized the importance of sustainable energy security, renewable energy development, and reducing dependence on imported fuel to attract investment and create jobs. He also stressed the need for education reform and workforce development to address unemployment among young, educated individuals.
Titumir noted the government's plan to allocate 2 percent of GDP to education, with a goal to increase this to 5 percent by 2030. He also mentioned improvements in healthcare infrastructure, including upgrading upazila-level hospitals to 151-bed facilities.