Due to the rapid spread of the coronavirus, the globe economy is now facing a significant catastrophe. Famine can occur at any time. Various organizations round the world are sending warning messages during this regard. Poor people in populous countries like Bangladesh are most littered with a coronavirus. the overall people of the country are being harmed by the ‘lockdown’ that the govt has been announcing everywhere the country for pretty much a year and a half thinking that strict lockdown is that the thanks to stop the spread of corona. it’s impractical to prevent the spread of corona. Corona deaths and infections aren’t decreasing. From the tip of last month to the center of this month, the amount of deaths because of corona within the country for several days during a row was near 200 or more. The spread of corona has now gone to the village level. The lockdown was lifted.
But coronary cardiopathy, detection, and mortality haven’t decreased. People have lost their breath while under confinement. the amount of such folks that earn a living and eat every day is that the highest within the country. The backs of the lower and middle classes are stuck within the wall. because of the complexity of the present supply system, the costs of essential commodities are increasing.
Note that the origin of coronavirus is China. within the beginning, true in China was so complicated that it caused controversy everywhere the planet. But China has strategically averted this horror in an exceedingly way that shocks the entire world. After nearly two months of research on a way to prevent the spread of corona, the Chinese government reached an expert-level conclusion and started functioning on the choice. in an exceedingly short time, they achieved success. China’s economy has returned to normal. the planet economy is now within the hands of China. Bangladesh should have discussed the matter with China and brought steps. China is now occupying first place within the world by blocking the spread of Corona. The Bangladesh government should take the recommendation of friendly China during this regard. there’s still time to require the strategic side of China, then to assist marginalized people earn a living. There don’t seem to be enough hospitals in our country compared to the amount of patients. The shortage of experienced doctors is additionally noticeable. For various reasons, Corona is taking a long-term form. The suffering of the people is increasing because of the incorrect steps of the govt..
In April 2020, the planet Bank said in an exceedingly report that given the coronavirus situation, Bangladesh’s economic process could fall from 6 percent to 2 or three percent. The country’s economy is acquiring that direction. Every sector of Bangladesh’s economy has suffered severe losses within the last month. Bangladesh’s economy is broadly divided into agriculture, services, and industry. in keeping with the Bangladesh Bureau of Statistics, the service sector now contributes about 50 percent to the country’s economy. Besides, the contribution of the commercial sector is 35 percent and also the contribution of agriculture is now about 15 percent. Nazneen Ahmed, an economist at the Bangladesh Institute of Development Studies, said the service sector and industry had suffered severely as economic activity had stalled for the past one month. the concept that the globe Bank is giving about the economy of Bangladesh is shocking.
Bangladesh expected GDP growth to be 7.2 percent from July 2019 to June 2020. But that wasn’t possible. thanks to the epidemic in 2019-2020, it reduced to five.2 percent. the globe Bank says true will exasperate in 2021. On Thursday, July 1, 2021, government minister AHM Mustafa Kamal said in Parliament that the GDP growth target of seven.2 percent has been set within the budget of Tk 6,361 crore raised for the twelvemonth 2021-22. The minister of finance said the planet Bank has forecast that Bangladesh could achieve 5.1 percent GDP growth next year.
And the International money (IMF) has said that Bangladesh’s growth may be 6.5 percent next year. The Asian Development Bank (ADB) has projected 7.2 percent growth, which is additionally the government’s target. Experienced economists within the country have said that it’ll not be possible to realize this thanks to the Corona epidemic. With the first-year experience of the coronavirus epidemic, the govt. has budgeted for this year with the slogan of saving people’s lives. the middle for Economics and Business Research (CEBR) has expressed strong doubts about its implementation because it is big in size but lacks a transparent roadmap. in an exceedingly recent report, the agency predicted that China would become the world’s largest economy in exactly seven years. In 2030, India are going to be the third. And by 2035, Bangladesh’s position among the 193 countries will rise many steps to number 25. in line with the 2020 index, Bangladesh is now the 41st largest economy within the world.
The CEBR says the coronavirus epidemic has caused many upheavals within the world economy. The economy isn’t visiting match now. Ahsan H. Mansoor, an economist and executive of the Policy Research Institute, said the budget proposes to allocate Tk 10,000 crore in 2021 as in 2020 to fulfill the urgent needs of the epidemic. Hopefully, the outline will give. the way to vaccinate 12 crore people? Huge workload. If you do not have that plan, you cannot just sit with money. the govt. says there’s a cowardly focus within the budget. Since this year’s budget has been allocated from 10 thousand crores just for vaccines. Last year (2020) the allocation was increased, what’s the result? you do not just should buy a vaccine with money. Must have an execution plan. Has the govt been ready to take that plan this time?
It is imperative to adopt a comprehensive plan at the national level for the huge task of vaccinating the sole reliance on epidemics.