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Bangladesh eyes double-digit GDP growth in next 5 years

Christian Fernsby ▼ | September 30, 2019
Bangladeshi Finance Minister AHM Mustafa Kamal said the country's economy looks set to clock double-digit growth in the next five years.
Mustafa Kamal
Asia   Minister AHM Mustafa Kamal
Kamal came up with the expectation while speaking as the chief guest at a conference of Asian Development Bank (ADB) at Bangabandhu International Conference Center, also known as Bangladesh China Friendship Conference Center, in capital Dhaka.

Topics: Bangladesh GDP

After the completion of the mega Padma bridge, 25 meters in width and 10 km in length, which is being built over the Padma River, Bangladesh will see at least one per cent GDP growth, said the minister.

Implementation of many more mega infrastructure projects will also help the country generate the rest of the expected growth, he added.

The Bangladeshi government in June unveiled a record 5.23 trillion-taka (about 62 billion U.S. dollars) proposed national budget, targeting an economic growth of 8.2 percent for the current 2019-20 fiscal year.

Bangladesh's economy grew 8.13 percent this fiscal year, the highest in its history, Kamal earlier said.

A new Asian Development Bank (ADB) report released on Wednesday said that buoyant exports, robust private consumption, higher remittances, accommodative monetary policy, ongoing reform to improve business climate and higher infrastructure spending have helped Bangladesh attain high growth.