For the country’s poorest people, experts and economists have urged the government to reform social security programmes to reallocate resources.
The Bangladesh Social Protection Public Expenditure Review of the World Bank’s report showed Reallocating existing transfers to the poorest could reduce poverty from 36 per cent to 12 per cent and extreme poverty from 22 per cent to 4 per cent among the beneficiaries.
About 11 per cent of people from the urban areas have come under the programmes but the poverty rate in these areas is 18.9 per cent.
On the other hand, 35.7 per cent of rural people have been covered by the programmes but the poverty rate is 26.4 per cent.
In addition, in FY2020, Bangladesh spent about 2.6 per cent of GDP in social protection.