Breaking News

Asia Today ISSN 1861-4604 Thursday, August 17, 2017

Headline

Bangladesh heading for fastest economic growth in FY17

Government Says

Share on Facebook May 14, 2017, Reporter : BD News 24, Reader : 429

news

The higher estimates by the Bangladesh Bureau of Statistics or BBS are based on data from the first ten months of 2016-17 (July-April).>

The BBS estimated that Bangladesh’s per capita income will rise to $1,602 by the end of the current fiscal year, up from $1,465 in the previous year.

The numbers were revealed by Planning Minister AHM Mustafa Kamal at the National Economic Council (NEC) meeting led by Prime Minister Sheikh Hasina on Sunday.

“This is the result of our combined efforts,” Hasina said. “These achievements have been possible because of the continuity of governance.”

However, according to the World Bank report ‘Bangladesh Development Update’, the fall in export growth and continued problems with remittances will lead to a lower economic growth rate than the previous year.

“Overall I would say the Bangladesh economy has maintained its continuity,” said Zahid Hussain, lead economist of the World Bank’s Dhaka office. “Exports and remittances are unfavourable, but stability remains.”

The World Bank report states that export growth between July to April of the current fiscal year was 4 percent, compared to 9 percent a year ago. It also says remittances over the first ten months of the current fiscal year fell 16 percent, compared to the 2.5 percent fall in FY 2016.

The final BBS calculation for the previous fiscal year found the growth rate to be 7.11 percent and the per capita income at $1,465.

After being stuck in the 6 percent range for nearly a decade, the Bangladesh economy finally surpassed 7 percent economic growth in 2015-16.

The budget formed last June set a growth target of 7.2 percent for 2016-17.

More Euro Asia news of the month

Photos Bangladesh President, PM pay homage to Sheikh Mujibur Rahman on 42nd death anniversary

Dhaka [Bangladesh], Aug.15 (ANI): Bangladesh President Abdul Hamid and Prime Minister Sheikh Hasina today led the nation in paying...

Photos Straight Talk: Change of heart? Not quite

I would have never known Mr. Yasser Latif Hamdani had it not been for the so called information technology revolution. Mr. Hamdani is a...

Photos High Court issues verdict in Biswajit murder

The two convicts are former leaders of Chhatra League (Student Group of Government Party) in Jagannath University Rafiqul Islam Shakil...

Photos Bangladesh arrests journalist over dead goat Facebook post

Dhaka - Bangladesh police on Tuesday arrested a journalist in the country's south for allegedly defaming a minister in a Facebook...

Photos US President’s aide Lisa Curtis’ Dhaka visit postponed

DHAKA: The planned Dhaka visit of US President Donald Trump’s Deputy Assistant Lisa Curtis has been postponed at the eleventh...

Photos Peoples' master plan for a livable future

Since early 1980s, successive regimes in Bangladesh have been undertaking pro-corporate, neo-liberal economic reforms guided by the...

Photos Dhaka’s two mayors on streets after rainfall

DHAKA: Mayors of Dhaka South City Corporation (DSCC) and Dhaka North City Corporation (DNCC) visited different roads in the city after...

Photos National Committee proposes alternative master plan for power sector

Terming the government’s Power Sector Master Plan 2016 costly, import-oriented and destructive to environment, central leaders of...

Photos Bangladesh, Sri Lanka sign 14 agreements

Dhaka [Bangladesh], July 14 (ANI):Bangladesh and Sri Lanka on Friday signed 14 agreements, including one between Shipping Corporations...

Flying Reimagined

Stock Index

Thursday, August 17, 2017

Life Style

Photo Gallery

FEUILLETON