Current Situation and Trends of Poverty in Bangladesh

Abstract

Poverty governance in developing countries constitutes an important part of global poverty governance as it is a major obstacle to the sustainable development of human society. Bangladesh has carried out numerous economic as well as trade liberalization reforms since the early 1990s with sustained and accelerated economic growth and formulated a series of measures to reduce poverty, with remarkable results. However, Bangladesh is still stuck in the paradox of a poverty trap regardless of achieving poverty reduction. The sudden outbreak of the COVID-19 epidemic in 2019, gravely impacted the poverty reduction efforts made in Bangladesh, large number of poverty-stricken people returned to poverty, exceeding the number of extremely poor people. Although series of poverty reduction measures have taken place in Bangladesh, yet it has not solved the poverty problem in the country. Based on the "Household income and Expenditure Survey, released by Bangladesh Bureau of Statistics, this paper analyzes the current situation and the development trend of poverty in Bangladesh by combining some international poverty indexes. Finally, the paper explains the actual poverty situation of Bangladesh, its causes,, and recommends some relevant measures.