WB projects 7% GDP growth for Bangladesh in 2018-19 FY

Staff Correspondent: The World Bank (WB) has projected 7 percent Gross Domestic Product (GDP) growth for Bangladesh in 2018-19 fiscal year.

The projection comes from the WB’s, ‘Bangladesh Development Update: Powering the Economic Efficiency,’ report released at its Agargaon office in Dhaka on Tuesday.

According to the report, “Bangladesh’s economy is still one of the fastest-growing economies of the developing world, the report pointed out that the growth is driven by industry and services on the supply side—and private consumption and investment on the demand side.”

“The pace of public investment will remain strong as the implementation of mega projects gains further momentum. Private investment growth will remain subdued due to structural constraints,” it read.

The report said, “Increased investment in manufacturing will bolster employment opportunities and further contribute to alleviate poverty in the country.”

Bangladesh's economy grew 7.86% in the previous fiscal year, through significant contributions of the agriculture sector—supported by an increase in rice production.

Bangladesh’s government had projected growth of 7.8% this fiscal year.


risingbd/Dhaka/October 02, 2018/Hasibul/A K Azad