Economic Reporter :
Country is expected attain a record 7.65 percent GDP growth in the current fiscal year (2017-2018), which is 0.25 percent higher than the budgetary target of 7.40 percent.
“The GDP growth will be 7.65 percent in this fiscal year. It’s our initial and provisional estimation,” Planning Minister AHM Mustafa Kamal said while briefing reporters after the ECNEC meeting.
The minister first made the disclosure at a meeting of the Executive Committee of the National Economic Council (ECNEC) held at the NEC conference room in the city’s Sher-e-Bangla Nagar area with ECNEC Chairperson and Prime Minister Sheikh Hasina in the chair.
Bangladesh attained a robust growth of 7.28 percent in the last fiscal year (2016-2017). According to the Bangladesh Bureau of Statistics (BBS), the growth rate in FY2016 was 7.11 percent. Bangladesh economy eventually passed 7 percent growth in FY2016 after being ‘stuck’ in the 6-7 percent range for nearly a decade.
“It has been possible to gain such achievement due to dynamic leadership of Prime Minister Sheikh Hasina as she could involve the country’s people in the development process,” the Planning Minister said.
About the GDP growth, Mustafa Kamal said the GDP growth rate was 6.06 percent in 2013-2014 fiscal year, while 6.55 percent in 2014-2015 and 7.11 percent in 2015-2016.
He said the provisional estimate of GDP growth was made on the basis of three main sectors – griculture, Industry and Services.
The services sector is making the highest contribution to GDP in the current fiscal with 52.18 percent, according to factsheet of the BBS provided during the briefing.
The contribution of industrial sector to GDP is 33.71 percent, while that of agriculture sector is 14.10 percent.
In the last fiscal year, the contribution of the services sector to GDP was 53.85 percent, while that of industrial sector was 32.42 percent and the agriculture was 14.74 percent.The growth rate in the agriculture sector is 3.06 percent, while that in the industry sector is 11.99 percent and in the services sector is 6.33 percent in the 2017-2018.
The investment ratio to GDP has increased to 31.47 percent in this fiscal year from 30.51 percent in the last fiscal year (FY17).
Country is expected attain a record 7.65 percent GDP growth in the current fiscal year (2017-2018), which is 0.25 percent higher than the budgetary target of 7.40 percent.
“The GDP growth will be 7.65 percent in this fiscal year. It’s our initial and provisional estimation,” Planning Minister AHM Mustafa Kamal said while briefing reporters after the ECNEC meeting.
The minister first made the disclosure at a meeting of the Executive Committee of the National Economic Council (ECNEC) held at the NEC conference room in the city’s Sher-e-Bangla Nagar area with ECNEC Chairperson and Prime Minister Sheikh Hasina in the chair.
Bangladesh attained a robust growth of 7.28 percent in the last fiscal year (2016-2017). According to the Bangladesh Bureau of Statistics (BBS), the growth rate in FY2016 was 7.11 percent. Bangladesh economy eventually passed 7 percent growth in FY2016 after being ‘stuck’ in the 6-7 percent range for nearly a decade.
“It has been possible to gain such achievement due to dynamic leadership of Prime Minister Sheikh Hasina as she could involve the country’s people in the development process,” the Planning Minister said.
About the GDP growth, Mustafa Kamal said the GDP growth rate was 6.06 percent in 2013-2014 fiscal year, while 6.55 percent in 2014-2015 and 7.11 percent in 2015-2016.
He said the provisional estimate of GDP growth was made on the basis of three main sectors – griculture, Industry and Services.
The services sector is making the highest contribution to GDP in the current fiscal with 52.18 percent, according to factsheet of the BBS provided during the briefing.
The contribution of industrial sector to GDP is 33.71 percent, while that of agriculture sector is 14.10 percent.
In the last fiscal year, the contribution of the services sector to GDP was 53.85 percent, while that of industrial sector was 32.42 percent and the agriculture was 14.74 percent.The growth rate in the agriculture sector is 3.06 percent, while that in the industry sector is 11.99 percent and in the services sector is 6.33 percent in the 2017-2018.
The investment ratio to GDP has increased to 31.47 percent in this fiscal year from 30.51 percent in the last fiscal year (FY17).
