Bangladesh to achieve 6.8pc GDP growth in FY17, says World Bank | daily-sun.com

Bangladesh to achieve 6.8pc GDP growth in FY17, says World Bank

Sun Online Desk     16th April, 2017 06:56:38 printer

Bangladesh to achieve 6.8pc GDP growth in FY17, says World Bank

World Bank (WB) has predicted 6.8 percent GDP growth for Bangladesh in 2016-17 financial year (FY17).


The WB in its twice-a-year report in the South Asia Economic Focus said, "Growth will be sustained at 6.8 percent in 2017. The economy in Bangladesh has weathered global uncertainties well aided by strengthening investment and a recovery of exports."

 

The report titled "Globalization Backlash" observed that infrastructure gaps and inadequate energy supply, combined with the high cost of doing business, remain the main obstacles to the realization of Bangladesh's growth potential.

The report also forecast that Bangladesh's GDP growth will stand at 6.4 percent in FY18 and 6.7 percent in FY 19.

The report, however, confirmed that South Asia remains the fastest-growing region in the world, gradually widening its lead relative to East Asia.

Quoting the report BSS said, "Regional GDP growth is expected to rise from 6.7 percent in 2016 to 6.8 percent in 2017, and 7.1 percent in 2018."

It claimed that global integration has been good for economic development and poverty reduction.

But the region would be resilient to higher trade barriers in advanced economies. 


"It would even stand to gain if selective protectionism resulted in trade diversion away from established suppliers. South Asian economies also stand to gain from the observed recovery in advanced economies, which are their largest export markets," said the report. 


Top