The year 2020 has been like no other in recent history. Even the biggest doomsdayers could not have predicted what was to occur, and how the Covid-19 pandemic was to derail millions, if not billions, of dreams and aspirations.
In terms of our greater national ambitions, the pandemic severely obstructed Bangladesh s progress towards reducing poverty, among other things. According to various estimates, the fallout from the pandemic has created somewhere between 17.5 and 20 million new poor in the country. And according to a new UNDP study, the poverty rate in the urban areas of Bangladesh has increased three-fold during this time period, mainly due to a massive number of people in cities and towns losing their jobs or experiencing a reduction in their salaries.
Officials hinted at a new stimulus package yesterday amid fears of a possible second wave of Covid-19 and the subsequent setback for the economy which has only slightly recovered from the impacts of shutdown.
Economists and businesses suggested this in a two-week-long series of dialogues on Stimulus Packages for Sustainable and Inclusive Recovery from Covid-19 Fallout in Bangladesh organised by the finance ministry. We are discussing the issue [of a new package] with businesses and economists. We will report the suggestions to the higher authorities. The decision will be made then, Senior Secretary Abdur Rouf Talukder of the finance ministry said yesterday.