M Humayun Kabir: The Asian Development Bank projected that the economic growth for Bangladesh for the current fiscal year may be 7.5 percent, slightly below than the government’s estimate of 7.8 percent. In its Asian Development Outlook 2018 released on Wednesday, the bank said the growth will be achieved due to the increase in private sector investment, export and remittance.
Bangladesh projected 7.8 percent growth for fiscal 2018-19 in its national budget announced in June.
However, Bangladesh’s GDP growth accelerated 7.86 percent in the past fiscal year, surpassing the estimate of 7.65 percent, according to the state-owned statistical agency BBS.
The Manila-based institution, in the update of its Asian Development Outlook, kept its 2018 economic growth estimate for the region at 6 percent.
But it trimmed the next year’s forecast to 5.8 percent from 5.9 percent.
The ADB’s 5.8 percent growth estimate for 2019 would be the slowest for the region — made up of 45 countries in the Asia-Pacific region — since it clocked a 4.9 percent growth in 2001.
Our time is a news portal