Bangladesh has posted the highest-ever 7.86 percent GDP growth in 2017-18 financial year, well surpassing the estimated growth of 7.65 percent.
The per capita income increased to $ 1,751 in 2017-18 from US$ 1,610 in the previous fiscal, according to Bangladesh Bureau of Statistics (BBS).
The final figure of economic growth was placed at the meeting of the Executive Committee of the National Economic Council (Ecnec) held in the NEC Conference Room with Ecnec Chairperson and Prime Minister Sheikh Hasina in the chair on Tuesday.
Planning Minister AHM Mustafa Kamal briefed reporters after the meeting.
He said, “No major natural disaster hit us this year (last fiscal year). We could register this growth for outstanding success in the agriculture sector. Besides, we got good progress in the industrial and power sectors.”
In the last fiscal, the contribution of agriculture to the GDP was 13.82 percent, while that of industry and services sectors were 30.17 percent and 56 percent respectively, said Mustafa Kamal.
The GDP growth was 7.28 percent in 2016-17 FY, 7.11 percent in 2015-16 FY and 6.55 percent in 2014-15 FY.
The Planning Minister said the GDP size increased to Tk 22,505 billion (US$ 274.11 billion) in the 2017-18, a rise from Tk 19,758 billion in 2016-17.
He said the investment to GDP ratio also increased at 31.23 percent –7.97 percent public investment and 23.26 private sector investment-in the 2017-18 financial year, up from 30.51 percent in the 2016-17.
The national savings against GDP was 27.42 percent in the last fiscal year, he added.
Besides, the ECNEC on same day approved 14 development projects involving Taka 12,544 crore.
The approval came at the weekly meeting of the ECNEC held at the NEC conference room in city’s Sher-e-Banglanagar with ECNEC Chairperson and Prime Minister Sheikh Hasina in the chair, reports BSS.
Briefing the reporters after the meeting, Planning Minister A H M Mustafa Kamal said the government would provide Taka 8,842 crore from the national exchequer while the organizations concerned would contribute Taka 257 crore from own funds and Taka 3,445 crore would come as project assistance for the entire cost of Taka 12,544 crore for 14 projects.
Of the 14 approved projects, there are 11 new ones, while the remaining three are revised projects.
The ECNEC approved a project involving Taka 80 crore for the construction of railway line between Chilahati and Chilahati Border aiming to set up railway link with India.
Through the project, after more than five decades, Bangladesh and India would revamp the Chilahati-Haldibari rail connectivity which would also open up scopes for trains to travel to Shiliguri and Darjeeling.
Another project okayed by the ECNEC was for procurement, preservation and use of electronic voting machines (EVMs) involving Taka 3,825 crore for collecting 1.5 lakh EVMs by June 2023.
About the EVMs project, the planning minister said they have taken the project which will be implemented in three phases. “The EVMs (1.5 lakh EVMs) will be procured in three phases.”
Besides, BEPZA Economic Zone, Mirsharai-1st Phase Project involving Taka 750 crore was also cleared by the ECNEC meeting. About the project, Mustafa Kamal said, the Prime Minister gave directives that the drainage system of the economic zone must be made in the scientific way along with the central effluent treatment plant (CETP).
The 11 other approved projects include Establishment of Sheikh Hasina Tantpalli (1st phase) with Taka 253.30 crore; Upgrading Hathazari-Raojan part of Chattogram-Rangamati National Highway into Four-Lane project with Taka 528.45 crore; Widening and Strengthening Jamalpur-Madarganj Road (3rd revised) project with Taka 128.45 crore; Infrastructure Construction and Development of Narayanganj City Corporation project with Taka 461.26 crore; and Establishment of Agricultural Research Centre of BARI in Gopalganj District and Development of Agriculture Strengthening Environment-Ecology-Befitting Research Activities in the country’s Southwestern Region project with Taka 157 crore.
