Breaking News

Asia Today ISSN 1861-4604 Monday, June 26, 2017

Headline

Bangladesh heading for fastest economic growth in FY17

Government Says

Share on Facebook May 14, 2017, Reporter : BD News 24, Reader : 376

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 EU to restrict visas for states not taking back migrants

PanARMENIAN.Net - The European Union states decided on Friday, June 23, to restrict visas for foreign countries that refuse to take back...

Photos Second Bangladeshi Official in US Charged With Worker Abuse

U.S. prosecutors have charged a Bangladeshi economist working for the United Nations in New York with allegedly mistreating a domestic...

Photos Death toll rises to 156 in Bangladesh landslides

Dhaka [Bangladesh], June 17 (ANI): The death toll following the recent incessant downpour and landslides in Bangladesh has risen to 156,...

Photos Rohingya muslims may be threat to Bangladesh's security: Foreign minister

Dhaka [Bangladesh], June 16 (ANI): Bangladesh Foreign Minister Abul Hassan Mahmood Ali has said that the Rohingya muslims, migrants from...

Photos Rescuers Aid 4,500 Homeless After Deadly Bangladesh Mudslide

DHAKA - Rescuers recovered the body of a woman from the mass of mud that collapsed onto a village in southeastern Bangladesh, and were...

Photos World's most powerful hammer deployed for Bangladesh' 'Padma Bridge construction'

Dhaka [Bangladesh], June 14 (ANI): World's largest and strongest hammer has been deployed for the construction of Bangladesh's...

Photos 130 dead following incessant downpour, landslides overnight in Bangladesh

Dhaka [Bangladesh], June 14 (ANI): At least 130 people, including four army men, have died in the hilly areas of Chittagong, Rangamati...

Photos Saudis deny $1B mosque-funding project in Bangladesh

Saudi Arabia is pushing back against reports that it will fund a $1 billion project to build 560 mosques in Bangladesh, reports The...

Photos Bangladesh Trains Girls to Fight Online Predators

Bangladesh has begun training thousands of school girls to protect them from being blackmailed or harassed online following an alarming...

Flying Reimagined

Stock Index

Monday, June 26, 2017

Life Style

Photo Gallery

FEUILLETON