This Country Re-Boosted Its Economy – and Reduced Its Poverty!

Thanks to a strong economic recovery undertaken in the wake of the coronavirus pandemic, Bangladesh saw its estimated poverty drop, a positive step in the country’s sustainable and inclusive growth.

“Following a strong economic recovery from the pandemic, estimated poverty declined to 11.9% in FY21 [financial year 2021] from 12.5% in FY20, as per the international poverty rate,” says Mercy Tembon, World Bank country director for Bangladesh and Bhutan.

In the World Bank’s latest report titled Bangladesh Development Update – Recovery and Resilience Amid Global Uncertainty, it is mentioned that the country made an important economic recovery from the pandemic and the World Bank is committed to helping Bangladesh notably with structural reforms to prevent future shocks.