Proverty of Bangladesh

As in many developing countries, poverty in Bangladesh has been an alarming social issue for a significant amount of time. Shortly after its independence, approximately 90% of the population lived under the poverty line.[1] However, since economic reforms and trade liberalization of early 1990s, along with accelerated economic growth since early-2000s, Bangladesh have experienced a dramatic progress in reducing poverty. The remarkable progress in poverty alleviation has been recognized by international institutions. According to World Bank, more than 33 million Bangladeshi people have been lifted out of poverty since 2000; as measured by the percentage of people living on the equivalent of US$1.90 or less per day in 2011 purchasing price parity terms

Since early-2000s, rapid economic growth has fueled a remarkable increase in per-capita income. Bangladesh's per capita has increased almost threefold between 2010 and 2020, from under $700 moving Bangladesh into the ranks of middle-income economy. At current growth, Bangladesh is projected to enter upper-middle income status by 2041. Based on the current rate of poverty reduction, Bangladesh is projected to eliminate extreme poverty by 2021, the first country in South Asia to do so.

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