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The economy of Bangladesh is a major developing mixed economy. [41] As the second-largest economy in South Asia, [42] [43] Bangladesh's economy is the 35th largest in the world in nominal terms, and 25th largest by purchasing power parity. Bangladesh is seen by various financial institutions as one of the Next Eleven.
Among Bangladesh's many economic and social achievements, dramatic reduction in poverty in often considered a phenomenon among international organizations such as IMF and The World Bank. Between 1972 and 2018, Bangladesh's population living on less than $1.90/day is estimated to have fallen from 90% to 9%.
Upon the independence in 1971, country's founding leaders shaped the economy of Bangladesh as a socialist economy as described in the constitution, however, liberal democracy wasn't scrapped. But due to economic mismanagement and political turmoil, the economic system resulted in a stagnation, with the deadly famine of 1974 further created a ...
Hunger in Bangladesh middle and lower class population is growing at a fast rate compared to other south Asian countries and hunger is still an issue. [12] Bangladesh has improved economically but still faces national huge hunger problem with approximately 40 million close to starvation. [ 13 ]
June 2022: More than 40 people were killed and 200 injured after a fire broke out in a depot near the southern port city of Chittagong, in a blaze fire officials said could have been caused by a ...
The constitution's proclamation of a People's republic and socialism in its preamble [26] and Article 10 [27] are at odds with Bangladesh's current free market economy system, entrepreneurial class, diverse corporate sector and owners of private property. Six general elections were won by pro-market political parties, while four elections were ...
Society in Bangladesh in the 1980s, with the exception of the Hindu caste system, was not rigidly stratified; rather, it was open, fluid, and diffused, without a cohesive social organization and social structure. Social class distinctions were mostly functional, however, and there was considerable mobility among classes.
Corruption in Bangladesh has been a continuing problem. According to all major ranking institutions, Bangladesh routinely finds itself among the most corrupt countries in the world. As of 2001, corruption in the public sector was "endemic, chronic and all pervasive". [1]