WB projects Bangladesh growth at 6.8pc

UNB . Dhaka | Update:

Bangladesh’s gross domestic product (GDP) growth will be 6.8 per cent in the current 2016-17 fiscal year, according to the World Bank’s projection.

"The growth will be sustained at 6.8 percent in 2017 fiscal year... Bangladesh economy is performing well in all the indicators except three -- export, remittance and import of industrial raw materials-compared to the previous fiscal year," said WB lead economist Zahid Hussain.
He was revealing a report titled 'Bangladesh Development Update, May 2017' at the WB Dhaka office.
Zahid Hussain said Bangladesh has the potentials to add about three percentage points to the baseline growth over the next 15 years by taking some measures, particularly enhancing efficiency in public investment and women participation in labour market.
Noting that there are three key factors - export, remittance and investment-- for the country's strong economic growth, he said the growth, however, declined in export and remittance in this fiscal year.
According to the Bangladesh Development Update, May 2017, the economy is likely to grow between 6.4 percent and 6.8 per cent in 2017 and 2018.
However, it said, the country must not be too complacent as it would require dealing with domestic and external risks.
The risks on the domestic side include further deterioration in the financial sector stability, slippages in addressing fiscal reforms, and political uncertainties in the run-up to the 2019 general election, the report added.
WB country director Qimiao Fan was also present at the launching programme.

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