Economy caught in complex structural trap: Zillur Rahman

Our economy is caught in a deep and complex structural trap, Hossain Zillur Rahman, executive chairman of the Power and Participation Research Centre (PPRC), said today (17 October).

Speaking at the launch of the PPRC’s book “State of the Real Economy”, held at the CIRDAP auditorium in the capital, Dhaka, Zillur said the structural trap is not a temporary or short-lived economic problem, but one deeply rooted in the country’s economic framework.

He identified three key features of the crisis: economic hardship at household level; challenges in employment and healthcare; and a growing debt burden alongside stagnant investment.

To overcome the crisis, Zillur said Bangladesh needs comprehensive structural reform under a framework he described as a “transition compact”.

He outlined five key pillars for the proposed reform: economic democracy, new growth drivers, quality education, productive transformation, and governance for speed.

Zillur stressed the need for immediate, comprehensive and effective action at the policymaking level to help the country break free from the structural trap and put its economy on a more sustainable path.

Also among those attending the event were Fazlul Haque, administrator of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), and Mustafizur Rahman, distinguished fellow at the Centre for Policy Dialogue (CPD).