Staff Reporter :
Bangladesh’s Gross Domestic Product (GDP) growth in the current financial year (FY 2018-19) is likely to be 7.5 percent, says the Asian Development Bank (ADB).
In its Annual Development Outlook (ADO) 2018, released on Wednesday the ADB forecast that the upcoming national election would not leave any negative impact on the economic growth subject to peaceful holding of polls ensuring participation by all the political parties.
Country Director Manmohan Parkash and Senior Economist Soon Chan Hong spoke, among others, in the launching ceremony at the ADB’s office, Agargaon in the city.
“In a democratic country, election is indispensable. Hopefully, the upcoming national polls will be participated by all the political parties. If so, there will be no hindrance to economic growth,” said Manmohan Parkash in his course of speech in the ADO launching ceremony.
He said Bangladesh is continuously surging ahead in its economic achievements. “Readymade garment industry is doing well. Tanners and IT (Information Technology) sectors needs care to grow, as both the sectors hold immense potential,” he added.
Senior Economist to the lending agency, Soon Chan Hong said, “It is imperative that Bangladesh has first time achieved the milestone of above 7.0 percent growth in GDP, which was stagnant at around 6.0 percent for last several fiscals.
He said, the private investment must rise to achieve targeted GDP growth.
He said the ADO forecasts slow import growth for Bangladesh and said export will remain stable mainly due to strong industrial production.
ADB is Bangladesh’s one of significant development partners aiding government in improving infrastructures, education, health, addressing climate change behaviors and other sectors by lending and providing grant.
Meanwhile, Bangladesh Bureau of Statistics (BBS) on September 18 last disclosed that the GDP growth was 7.86 percent, an increase of 0.21 percentage point from provisional projection of 7.65 percent in last fiscal (FY 2017-18).
While announcing the landmark achievement, Planning Minister AHM Mustafa Kamal said the economic growth was driven by large public sector investment coupled with private ones.
The Planning Minister, quoting BBS data, said that the country’s GDP size stood at US$274.11 billion at end of FY 18.
For the current fiscal, ending on June 30′ 2019, the government has projected a 7.8 percent growth in GDP.
Bangladesh’s Gross Domestic Product (GDP) growth in the current financial year (FY 2018-19) is likely to be 7.5 percent, says the Asian Development Bank (ADB).
In its Annual Development Outlook (ADO) 2018, released on Wednesday the ADB forecast that the upcoming national election would not leave any negative impact on the economic growth subject to peaceful holding of polls ensuring participation by all the political parties.
Country Director Manmohan Parkash and Senior Economist Soon Chan Hong spoke, among others, in the launching ceremony at the ADB’s office, Agargaon in the city.
“In a democratic country, election is indispensable. Hopefully, the upcoming national polls will be participated by all the political parties. If so, there will be no hindrance to economic growth,” said Manmohan Parkash in his course of speech in the ADO launching ceremony.
He said Bangladesh is continuously surging ahead in its economic achievements. “Readymade garment industry is doing well. Tanners and IT (Information Technology) sectors needs care to grow, as both the sectors hold immense potential,” he added.
Senior Economist to the lending agency, Soon Chan Hong said, “It is imperative that Bangladesh has first time achieved the milestone of above 7.0 percent growth in GDP, which was stagnant at around 6.0 percent for last several fiscals.
He said, the private investment must rise to achieve targeted GDP growth.
He said the ADO forecasts slow import growth for Bangladesh and said export will remain stable mainly due to strong industrial production.
ADB is Bangladesh’s one of significant development partners aiding government in improving infrastructures, education, health, addressing climate change behaviors and other sectors by lending and providing grant.
Meanwhile, Bangladesh Bureau of Statistics (BBS) on September 18 last disclosed that the GDP growth was 7.86 percent, an increase of 0.21 percentage point from provisional projection of 7.65 percent in last fiscal (FY 2017-18).
While announcing the landmark achievement, Planning Minister AHM Mustafa Kamal said the economic growth was driven by large public sector investment coupled with private ones.
The Planning Minister, quoting BBS data, said that the country’s GDP size stood at US$274.11 billion at end of FY 18.
For the current fiscal, ending on June 30′ 2019, the government has projected a 7.8 percent growth in GDP.
