Staff Correspondent, Dhaka
The White Paper Committee on Economy has advised the interim government to formulate a two-year action plan, emphasizing that long-term reforms will not be feasible without ensuring economic and political stability.
Dr Debapriya Bhattacharya highlighted the corruption of the past 15 years under the Awami League government, at a press conference organized by the White Paper Drafting Committee at the Planning Ministry in Agargaon, Dhaka on Monday.
Dr Debapriya also stressed that before the next national budget, the government must clearly outline initiatives for economic reform and demonstrate greater accountability.
“While it appears unlikely that this government will remain in power for five years, it is essential to have a roadmap for at least the next two years,” he said.
Dr Debapriya said that ensuring economic and political stability is crucial for initiating long-term reform activities.
He criticized the previous government for transforming the structure from "crony capitalism" to "kleptocracy," stemming from the 2018 election.
Subsequent elections, he argued, undermined transparency. He urged the current government to prepare a two-year action plan to address these issues.
He added that despite the current challenges, the United Nations believes Bangladesh's economy is robust enough to graduate from the list of Least Developed Countries (LDCs), with no significant obstacles to becoming a developing nation.
The White Paper on Bangladesh's economy reveals extensive corruption across public and private sectors, stifling growth, with annual illicit outflows averaging $16 billion—over double the combined foreign aid and FDI inflows.
The findings exposed a grim picture of systemic fraud, mismanagement and abuse of power across multiple sectors.
