Between 8 million and 10 million people in the country have slipped below the poverty line, according to Rashed Al Mahmud Titumir, Adviser for Finance and Planning to the Prime Minister.
Citing a recent World Bank report during an exchange meeting with journalists at the Rajbari Municipality Auditorium on Wednesday, Titumir said that initiatives such as family cards and farmer cards will play a vital role in overcoming this situation. It is expected that these measures will improve the poverty scenario and bring relief to people's lives. The meeting, organized by the district administration, was also attended by Rajbari District Council Administrator Abdus Salam Mia.
Speaking at the event, Titumir said, "We are passing through a transitional period. We have inherited a fragile economy. Due to prolonged inflation, immense pressure has been created, particularly on lower- and middle-income groups. According to calculations, between 8 million and 10 million people have fallen below the poverty line."
The adviser noted that to cope with inflation, many people are being forced to break into their savings or take on debt. The sluggish investment climate, especially the dire state of private sector investment, has deepened the employment crisis. Youth and educated unemployment have also emerged as major problems. Compounding these issues, the ongoing Middle East crisis has driven up fuel prices, creating fresh pressure on the economy.
Mentioning that various organizations are providing conflicting data regarding the country's Gross Domestic Product (GDP), the finance adviser added that misconceptions and distorted information are being propagated on social media regarding the matter.
