B Mirror Report: The government aims to raise Bangladesh’s average per capita income to $4,591 within the next five years while reducing inflation to 5% and increasing GDP growth to 8.5% by fiscal year 2030-31.

The targets were outlined in the General Economics Division’s (GED) report titled “Transforming Economy from Fragility to Prosperity,” covering the period from FY2026-27 to FY2030-31.

According to the report, per capita income stood at $2,958 in FY2025-26, meaning the government plans to increase it by $1,633 over five years.

The economic transformation plan will be implemented in three phases. The first year will focus on economic recovery and stability, including controlling inflation, stabilising the exchange rate and improving the banking sector. The next two years will focus on increasing revenue, improving public spending and strengthening debt management. The final phase will prioritise investment, employment and faster economic growth.

The government also plans major reforms in the banking and revenue sectors. These include reducing non-performing loans, strengthening bank governance and supervision, improving loan recovery, digitising tax administration and reducing tax exemptions. The tax-to-GDP ratio is targeted at 10% by FY2030-31.

Infrastructure development will also receive priority, particularly railway expansion and modernisation. Plans include upgrading the Dhaka-Chattogram railway to double track and electrifying the route, alongside several other railway and urban transport projects.

The plan also places emphasis on youth and women entrepreneurs. The government aims to provide startup funding to 560 young entrepreneurs annually until 2030 and support 1,200 women entrepreneurs each year.

The GED has identified good governance, transparency, accountability and stronger institutions as key foundations for achieving the country’s economic transformation goals.