Breaking News

Asia Today ISSN 1861-4604 Saturday, December 16, 2017

Headline

Bangladesh heading for fastest economic growth in FY17

Government Says

Share on Facebook May 14, 2017, Reporter : BD News 24, Reader : 397

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 wishes to solve Rohingya issue amicably, says Army Chief

Dehradun (Uttarakhand) [India], December 9 (ANI): Bangladesh Army chief General Abu Belal Muhammad Shafiul Huq on Saturday said the...

Photos Bangladesh Asks NY Fed to Help it Recover Stolen Millions

DHAKA, BANGLADESH - Bangladesh's central bank has asked the Federal Reserve Bank of New York to join a lawsuit it plans to file...

Photos ‘People disappear not only in Bangladesh, but also in US, UK’

Citing data from 2009, the prime minister said some 275,000 British citizens went missing, 20,000 of whom still remain without trace...

Photos Millionaire NBR officer through illegal income, says wife

DHAKA: Wife of an official of National Board of Revenue (NBR) accused her husband of embezzling millions of money.   The NBR...

Photos Mayhem over Facebook post

A man was killed and 20 others were hurt after police fired rubber bullets and teargas shells as violence flared up in Horkoli...

Photos Aung San Suu Kyi – the Defiant Lady

Bangladesh is reeling under a catastrophic Rohingya crisis since last September when a new exodus of Rohingya population began from...

Photos India, Bangladesh to hold joint military combat exercise

New Delhi [India], November 6 (ANI): The Indian and the Bangladeshi army are all set to take part in an intensive combat exercise at...

Photos Myanmar Blames Bangladesh For Delays in Rohingya Repatriation Process

A Myanmar government spokesman on Wednesday accused Bangladesh of delaying efforts to repatriate Rohingya Muslim refugees who fled a...

Photos Social Islami Bank faces ‘hostile’ takeover

The decision to remove the top three of the senior management and the announcement on their replacements was made at a closed door...

Flying Reimagined

Stock Index

Saturday, December 16, 2017

Life Style

Photo Gallery

FEUILLETON