(MENAFN- The Peninsula) QNA
Doha, Qatar: Prime Minister of Bangladesh H E Sheikh Hasina Wazed said that the world is facing a rise in inflation rates and an increase in oil, food and fertilizer prices, noting that the COVID-19 pandemic as well as the Russian-Ukrainian war, have put additional pressure on the global economy.
During a panel discussion that's part of the second day of Qatar Economic Forum 2023, Powered by Bloomberg, she said that ties with the State of Qatar are strong, and expressed her hope that the agreement to supply Bangladesh with Qatari gas continues.
The Prime Minister of Bangladesh reviewed the conditions that her country faced during the seventies and eighties of the last century, and the impact of the conflict at that time on economic conditions of citizens and the lack of growth, pointing out that her attachment to her country prompted her to return and form a government in 1996, which made some progress for the country, before problems returned to the fore again in Bangladesh.
She added that in the year 2008 a new government was formed, and began planning for the economic and social development of the country, according to priorities aimed at achieving food security, health care, housing and others, as the percentage of the gross domestic product reached about 8.1 percent, indicating that in the year 2015 Bangladesh moved to the middle countries.
She indicated that her country continued to achieve gradual growth until the start of the pandemic, as the whole world suffered from its repercussions on global economies, explaining that as soon as the economy began to gradually recover, the Russian-Ukrainian crisis began, while interest rates rose along with Inflation that picked up as a result of the rise in the prices of oil, food, fertilizers and other basic materials.
She said that the economy was able to grow at a rate of 6 percent, and added that the aim of borrowing from the International Monetary Fund is to alleviate the economic crisis, stressing that her country will be able to repay its debt and achieve economic growth.
She also said that the government is working on developing the infrastructure, providing basic services to citizens, as well as focusing on renewable sources of energy. She noted that the country's foreign policy is based on having good ties and avoiding the interference in the internal affairs of countries, or siding with one party against the other.
She said that her country will start a program in 2026 as a developing country, and will adopt a number of other programs to achieve many developmental goals.