A government-conducted forensic audit has revealed that Bangladesh's Gross Domestic Product (GDP) growth rate was overstated from the 2014-15 fiscal year onwards. In some instances, the growth was shown to be up to 1.30 percentage points higher than the actual figure. The audit has identified seven sectors where the growth was inflated.
The findings were disclosed at an event to publish the forensic audit report, where Finance and Planning Adviser Rashid Al Mahmud Titumir stated that GDP figures were inflated for political interests and to present a positive image of development.
Discrepancies in seven sectors
The audit report has identified seven sectors where GDP growth was overstated. The report details the extent to which growth was inflated in each of these sectors. Sources indicate that the report recommends a re-evaluation of data from these seven sectors to determine the actual growth rate.The Awami League government era
During the Awami League government's tenure, the country's GDP growth rate reached 8 percent. Experts had long been claiming that there were discrepancies in these figures. In this context, the current government initiated the forensic audit of GDP to scrutinize the growth rates recorded during the Awami League government's time.Adviser Rashid Al Mahmud Titumir's remarks highlighted the political context behind the discrepancies. He said the growth figures were inflated to showcase a positive image of development.
Experts' long-standing demand
Experts had been vocal for a long time about the discrepancies in GDP growth calculations. Many had questioned the announcement of 8 percent growth during the Awami League government's tenure. Analysts believe this forensic audit by the current government serves as institutional recognition of those long-standing questions.The audit report recommends taking necessary steps to present the true picture of GDP growth. The finance ministry has stated that subsequent actions will be taken based on this report.
