BBS audit finds Awami League inflated GDP growth figures
Photo: Agamir Somoy
Bangladesh Bureau of Statistics (BBS) said the ousted Awami League government inflated Gross Domestic Product (GDP) growth figures during its regime.
BBS presented this finding on Saturday during a seminar on the preliminary report of a forensic audit into GDP growth. Seminar speakers added that authorities exaggerated the figures to serve political interests and establish a narrative of so-called development.
The forensic audit uncovered that authorities reported the GDP growth rate 0.7 to 1.3 percentage points higher than actual calculations starting from the FY 2014-15.
Between the FY 2014-15 and the FY 2021-22, GDP growth fluctuated above 7 percent or hovered around that level, reaching nearly 8 percent in the FY 2018-19. However, during the 2019-20 coronavirus pandemic year, GDP growth dropped to 3.45 percent.
As Bangladesh’s economy faced various crises, GDP growth began declining from the FY 2022-23.
Questions surrounding these statistics had surfaced repeatedly over time. Debapriya Bhattacharya, chairman of the Economic White Paper Preparation Committee and distinguished fellow at the Centre for Policy Dialogue (CPD), said in November 2024, “The statistics of GDP growth shown by the previous Awami League government were not correct.”
Speakers at the seminar explained that BBS’s own survey data comprised 60 percent of the information used to calculate GDP growth, operating without interference. However, officials drew the remaining 40 percent from other government bodies, including the National Board of Revenue (NBR) and the Investment Board, where investigators identified discrepancies.
Prime Minister’s Finance and Planning Adviser Rashed Al Mahmud Titumir added that data overvaluation surged after the FY 2014-15, the fallen government utilized these statistics to build a political narrative.
He noted that discrepancies existed in data gathered outside official surveys. Authorities calculate GDP using production and expenditure methods and are considering implementing an income-based calculation method in the future.
Titumir said, “To our government, GDP is neither a number nor a tool. We want quality and accurate data.”
Bangladesh Economic Association President Mahbub Ullah and Bangladesh Statistical Association President Syed Shahadat Hossain attended the seminar as special guests.
