Bangladesh may achieve 6.7 percent GDP growth in the ongoing fiscal year, says the Asian Development Bank (ADB).
In its outlook for 2015 released on Tuesday, the lending agency said a stable political environment, public and private sector investment as well as growth in export earnings and remittance inflow will fuel Bangladesh to achieve growth in FY 2015-16.
“Bangladesh’s economy has demonstrated commendable resilience over the past decade, growing at an average of 6.2 percent a year. During the past five years this was 6.3 percent on average,” ADB Bangladesh office’s Chief Economist Mohammed Parvez Imdad told the media.
The 2015-16 budget has forecast a GDP growth of 7 percent. Bangladesh’s GDP growth in the last fiscal (2014-15) was 6.51 percent.
In its June 2015 report the ‘Global Economic Prospect’, the World Bank said that GDP growth for the current fiscal was unlikely to cross 6.3 percent.