World Bank projects 6.7pc growth for Bangladesh this fiscal year

FE Report | Published: July 04, 2018 10:06:54 | Updated: July 04, 2018 20:47:35


FE file photo used for representation

The World Bank (WB) has projected 6.7 per cent economic growth in fiscal year (FY) 2018-19 for Bangladesh.

The global lending agency has made the projection in its 'Global Economic Prospects (GEP)' in June 2018.

"In Bangladesh, growth is expected to recover from the effects of natural disasters in FY2017/18 and reach 6.7 per cent in FY2018/19, supported in part by robust export growth and remittances," the GEP said.

The WB in its GEP also forecast 7.0 per cent GDP (gross domestic product) growth for Bangladesh in FY 2019-20 and FY 2020-21.

About South Asia, the WB said growth in the region is projected to accelerate to 6.9 per cent in 2018, mainly reflecting strengthening domestic demand in India as temporary policy-driven disruptions fade.

Elsewhere in the region, ongoing recoveries in Bangladesh, Pakistan and Sri Lanka are expected to be accompanied by moderating activity in Afghanistan, Bhutan and the Maldives, it said.

smjahangirfe@gmail.com

Share if you like