The Asian Development Bank (ADB) has projected that Bangladesh will achieve eight per cent GDP growth in the current fiscal year (FY19-20).
The country’s GDP growth is set to hit 8.0 per cent at the end of the FY19-20 based on the continuing positive trend in exports and public investments, the lender has said.
The ADB makes the prediction in its annual study titled ‘Asian Development Outlook 2019’, which analyses the state of the Bangladeshi economy, reports bdnews24.com.
Manmohan Parkash, the country director for Bangladesh of the bank, highlighted various aspects of the study at a media briefing in the institution’s Dhaka office on Wednesday.
Though the ADB predicts a slightly lower rate of Gross domestic product (GDP) growth than the government, the figure is higher than the bank’s previous projections.
After analysing the data for the first eight months of the current fiscal year (July-February), the Bangladesh Bureau of Statistics estimated a record economic growth of 8.13 per cent at the end of the fiscal year 2018-2019.
Bangladesh’s GDP growth was 7.86 per cent in the past fiscal year while the per capita income was $1,751.
The country’s economic growth crossed 7.0 per cent in fiscal 2015-2016 after almost a decade in the region of 6.0 per cent.