Challenges of Economic Development of Bangladesh

INTRODUCTION

Economic development is the increase in the standard of living of a nation's population with sustained growth from a simple, low-income economy to a modern, high-income economy.

(http://www.google.com/url?q=http://en.wikipedia.org/wiki/Economic_development)

Bangladesh is an economically developing country. We cannot develop our country because of some major economic barriers. Economic development of a country effected by many facts including political, economical, geographical, infrastructural, international economy system, scarcity of resources, Natural disaster, corruption, communication problem and so on. Because of these problems we are backward in economic situation. Every problem has a solution, so attempt to point out the problem and ensure the solution according the pattern of the problem.

Economic Growth and Development is what every country want for their wealth, but somehow still it is quite impossible for Less Economic Developed Countries, like Bangladesh, to gain economic growth and development, since there are many barriers to growth and development that hold back this developing country. Common examples of the challenges are Unemployment, Poverty cycle, Natural Hazards, Poor economic condition, less infrastructural development, Political factors and International financial barriers etc. These are basically the challenges that act as a hindrance to economic growth or economic development. As like as many poor countries Bangladesh is known to have a poor economic and political system and through these this country facing a variety of challenges to growth. It is known that like most developing countries, Bangladesh has lacking infrastructure even though it is important to economic growth. Infrastructure consists of the vital facilities and services. Natural hazards, international financial barriers are also responsible to drawback the economic development of Bangladesh. To be an economic developed country Bangladesh has to overcome...