BD to see political shift next year amid challenges: Wahiduddin Mahmud

Planning and Finance Adviser Dr Wahiduddin Mahmud.

Dhaka, Dec 07 - Bangladesh is set to witness a political shift next year, says Planning and Finance Adviser Dr Wahiduddin Mahmud.

Speaking at the opening session of the Annual Baltic Conference on Defence (ABCD) conference at a hotel in the capital on Saturday, organised by the Bangladesh Institute of Development Studies (BIDS), he hinted at significant political developments while underlining the nation’s critical economic challenges.

Dr Mahmud, however, pointed out that income inequality remains one of the country’s most pressing concerns. "To tackle this disparity, quality education is paramount, an area where Bangladesh still has a long way to go." he added.

As Bangladesh transitions from its status as a Least Developed Country (LDC), he referred to the ongoing efforts to retain some benefits associated with the LDC status.

“We no longer have the option of remaining an LDC. Discussions to sustain certain privileges from developed nations are ongoing, with positive responses from many,” the adviser added.

In a separate session, Indermit S Gill, Chief Economist at the World Bank, provided insights into how Bangladesh could escape the middle-income trap.

Investment and job creation should be the focal points, he stated, urging the country to foster entrepreneurship and expand the use of technology.-UNB