WEB DESK
High inflation remained the biggest concern for the people of Bangladesh in 2022, says the United Nations Country Team (UNCT) result released on Tuesday. After staying below 6 percent for the past several years, it peaked at 9.5 percent in August last year. Fuel prices rose sharply and gas prices surged nearly 200 percent during the years, says the report.
Despite these challenges, the GDP growth rate for 2021-22 exceeded 7 percent which indicates a robust recovery after the COVID-19 pandemic. The report points out that major transport infrastructure projects like the metro rail and the Padma bridge were inaugurated which have significant implications for the capital city Dhaka and the economy of Bangladesh respectively.
On the front of Sustainable Development (SDG) Goals, Bangladesh achieved a ranking of 104 among 163 countries. It’s country score of 64.2 was lower compared to the regional average of 65.9. Among SDG Goals, Bangladesh marked an improvement in poverty reduction, quality education, responsible consumption and production and climate protection.
The report says that LDC graduation is high among the government’s priorities. Significant efforts are being made to ensure a smooth transition. However, a key concern is the loss of international support measures including loss of access to concessional terms on loans and tariff and quota-free access to key export markets.
Bangladesh is highly climate vulnerable and subject to regular floods and cyclones causing loss of livelihood and displacement of people. Climate adaptation requires adequate funding which is not available for the country, says the report.
In 2023 the Government will be managing an acute cost-of-living crisis that continues to affect affordable food and energy out of reach for millions of people. Livelihood support and food security will, therefore, be key priorities of the UNCT during the year.