BD economy to grow by 7.1pc in FY18: ESCAP

The United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) has projected the growth rate of Bangladesh economy to be 7.1 per cent in the current fiscal year (FY18).

This latest projection by the UN body has been unveiled in its flagship report titled ‘Economic and Social Survey for Asia and the Pacific 2017’. The year-end update of the report was released on Wednesday.

“Bangladesh ended the fiscal year 2017 exceeding earlier forecasts as well,” the report observed, adding, “Despite a slowdown in exports and remittance inflows, it grew by 7.2 per cent in fiscal year 2017, which is its best performance in a decade, supported by the manufacturing, services and agricultural sectors.”

According to UNESCAP, “The momentum is expected to continue in 2018 on the back of strong domestic demand and infrastructure investments.”