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Bangladesh to grow 7.5 percent

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Staff Writer | January 16, 2017
Bangladesh economy is expected to grow 7.5 percent in 2016-17 financial year (July 2016-June 2017).
Bangladesh workers
Economy in Asia   A bit higher than the previous estimate
This is a bit higher than the previous estimate of 7.2 as the economic fundamentals look strong, Planning Minister AHM Mustafa Kamal said.

Speaking at a press conference on Sunday, Kamal said the country's major economic indicators had so far showed strong and steady during this fiscal year compared to that of fiscal year 2015-16 (July 2015-June 2016).

The World Bank in a report recently predicted that Bangladesh's gross domestic product (GDP) is to grow 6.8 percent in the current 2016-17 fiscal year due to domestic security challenges, weak external demand and a mild pickup in private investment.

Kamal said the government is in a position to face all the hurdles in achieving desired growth in three key sectors - agriculture, service and industry - on which Bangladesh economic growth is mainly dependent.

Bangladeshi parliament passed 3.41 trillion taka (42.58 billion U.S. dollars) national budget last June for 2016-17 fiscal year, targeting an economic growth of 7.2 percent.