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Thread: Bangladesh GDP to Grow at 6.8% this Fiscal

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    Default Bangladesh GDP to Grow at 6.8% this Fiscal

    GDP growth may hit 6.8pc: BBS

    New budget outlay to the tune of Tk 2.23 trillion

    Shakhawat Hossain

    The growth rate of gross domestic product in the current fiscal year may hit 6.8 per cent, slightly higher than the previous best of 6.66 per cent the county achieved a couple of years ago, officials said on Saturday.

    They said the government would project the next fiscal year’s GDP growth at 7.5 per cent with a budget outlay of around Tk 2,23,000 crore.

    The provisional estimate of GDP in FY 2012-13 made by the Bangladesh Bureau of Statistics is 0.4 percentage points lower than the projected 7.2 per cent, the officials said. Finance minister AMA Muhith early this month told parliament that the projected GDP growth of 7.2 per cent would be difficult to achieve because of ‘uncertainty in global economy and disasters’. But, referring to the progress in rural infrastructure, agriculture in particular, he expected that the growth would near 7 per cent in the current fiscal.

    Multilateral lenders, including the International Monetary Fund, World Bank and Asian Development Bank, projected the GDP growth rate in the 5.5 to 6 per cent range in the current fiscal. They projected much lower than expected growth rates considering the weak domestic demand amid a sluggish local and foreign investment coupled with an energy shortage.

    Bangladesh Bank in December predicted the country’s economic growth at 6.2 per cent.
    Policy Research Institute executive director Ahsan H Mansur said the international agencies put the economic forecasts at a lower level. He said major economic indicators were positive and indicated a better growth prospect.

    Bangladesh Institute of Development Studies director general Mustafa K Mujeri said the country’s growth prospect depended on revenue earning, agriculture and industrial production, remittance, and export earnings.

    Revenue growth in the first six months, July-December 2012, was recorded at 15.9 per cent over the same period of the last fiscal. The remittance inflow in the period registered a 22 per cent growth.
    The foreign currency reserve by now has swollen to $14 billion.
    Meanwhile, the finance ministry has outlined the next fiscal year’s budget, the last one of the present government, which might earmark Tk 65,000 to 67,000 crore for the Annual Development Programme.

    The new budget will be announced in June. But the Awami League-led ruling alliance will get the chance to implement the budget for six months only, as its tenure is scheduled to end in January 2014.

    -------------------------

    Good seeing Bangladesh going on a impressive pace, no credit to Awami League regime though.

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    Thats not going to happen if the Jamaat ignites a fire that burns the country down.

  3. #3

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    Hahaha... ei fiscal er ordhek to kono kaam-kaaj/business/investment i hochhey na.
    6.8 ki akash thekey ashbey?

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