Bangladesh overtakes Pakistan in every sector of economy
Bangladesh has presented a federal budget of 71 billion US dollar for the fiscal year 2024-23, in which the growth rate has been targeted at 7.5% and the average inflation has been estimated at 6.5 percent.
On the contrary, Pakistan's potential growth rate target is 3.5%, while inflation is estimated at 21%. Bangladesh has reserves of about 31 billion dollar on the eve of the new financial year, while Pakistan's foreign exchange reserves are less than 4 billion dollar and they are still composed of loans taken from friendly countries.
Nearly 52 years after its separation from Pakistan, Bangladesh's exports reached 52 billion dollar in the fiscal year 2021-22, while Pakistan's exports were limited to only 31.78 billion dollar in the same period.
Bangladesh has set an export target of 67 billion dollar in the current financial year and recent financial data shows that Bangladesh will achieve the target of more than $65 billion, while Pakistan's export target in financial year 2023 was 38 billion dollar. Has been able to deliver which is much less than the target.
Since October 2022, Pakistan's exports have continued to decline and are not expected to touch the level of 30 billion dollar. During the financial year 2023, the per capita income in Bangladesh was about 2675 US dollar, while for the same period it has been estimated at 1568 dollar in Pakistan.
Bangladesh has made progress in every sector of the economy and how it is moving towards higher growth and increasing its GDP, while the situation in Pakistan is the opposite.
Statistics show that Bangladesh has made proud progress in every sector of the economy, as far as the Indian economy is concerned; it is also one of the fastest growing economies in the world.
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