Which of the following factors has helped improve Bangladesh economy in recent years
1) Remittances: Bangladesh has seen a significant increase in remittances from the large number of its citizens working overseas, particularly in countries like the Middle East. This has boosted the country's foreign exchange reserves and contributed to its overall economic growth.
2) Ready-Made Garments (RMG) industry: The RMG sector is a key driver of Bangladesh's economy, accounting for a significant portion of its export earnings. The country has emerged as the second-largest exporter of RMG globally, benefiting from competitive labor costs and favorable trade agreements with countries like the European Union.
3) Microfinance and rural development: Bangladesh has made significant strides in promoting microfinance and rural development initiatives. Organizations like Grameen Bank have played a crucial role in providing financial services to the rural poor and fostering entrepreneurship, leading to poverty reduction and increased economic activity.
4) Agriculture sector: Bangladesh has made notable improvements in its agricultural sector, which contributes to its food security and employment generation. The government has focused on enhancing agricultural productivity through increased irrigation, better seeds, improved farming techniques, and market access for farmers.
5) Infrastructure development: The government has invested in improving the country's infrastructure, including roads, bridges, and ports. This has facilitated trade, attracted foreign investment, and created employment opportunities.
6) Political stability and governance: Bangladesh has experienced relative political stability in recent years, which has attracted foreign investment and boosted investor confidence. The government's efforts to improve governance and reduce corruption have also contributed to the country's economic growth.
Please note that while these factors have generally contributed to the improvement in Bangladesh's economy in recent years, there are also challenges and areas needing further development.