Centre for Policy Dialogue on Sunday said that the provisional estimates of gross domestic product growth at 5.24 per cent did not represent the impact of COVID-19 pandemic on Bangladesh economy.
The independent think-tank also said that the GDP growth figure had turned into a politically influenced number that showed the success of the government.
The provisional estimates of GDP should not be used in policymaking in the coming months as it did not provide a reliable assessment about the actual condition of the economy, it said, adding that the estimation would confuse policymakers as well as international trading partners.
CPD, at a virtual media briefing on provisional estimate of GDP growth for the fiscal year 2019-2020: reaction of CPD, made the observation.
Bangladesh Bureau of Statistics on August 10 released the provisional estimates of GDP for the fiscal year 2019-20 sparking controversy and criticism among experts and economists who claimed that the BBS did not take the impact of coronavirus outbreak on the economy into consideration while calculating the GDP.
CPD also reaffirmed its previous projection of GDP growth at 2.5 per cent for the year.
CPD executive director Fahmida Khatun said that the GDP growth figure had turned into a political number that was used to showcase the government’s success.
There was no benefit of such politically influenced growth figure as it had an impact on the policymakers’ decisions, she said.
CPD distinguished fellow Mustafizur Rahman, research director Khondaker Golam Moazzem and senior research fellow Towfiqul Islam Khan, among others, spoke at the programme.
