World Bank forecasts 6.8pc growth for FY17 | 2017-01-11 |

World Bank forecasts 6.8pc growth for FY17

BSS     11th January, 2017 07:51:54 printer

World Bank forecasts 6.8pc growth for FY17

The country's economy will grow by 6.8 percent in the current 2016-17 financial year (FY17) when the growth rate for the global economy will be 2.7 percent, according to a report of the World Bank, released in Washington on Tuesday.

"Bangladesh's growth is expected to ease to a still solid 6.8 percent in FY2017 (ending on 30 June 2017), from the official estimate of 7.1 percent in the previous fiscal year," the Global Economic Prospect of the WB said.

Bangladesh Bureau of Statistics (BBS) data, however, showed that GDP (gross domestic product) growth hit the highest ever record at 7.11 percent in the past 2015-16 financial year.

The flagship report of WB noted that a slowdown in oil-rich Gulf Cooperation Council (GCC) economies led to receding remittance inflows to both Bangladesh and Sri Lanka, dampening private consumption and investment and eventually the economic growth, reports BSS.