WB projects BD`s growth at 6.8pc


Staff Reporter :
The World Bank (WB) expects the Bangladesh economy to grow 6.8 per cent in this fiscal year (2016-17), the bank said in a report.
But, in the next fiscal 2017-18, the GDP (gross domestic product) growth will be 6.5 due to weakening remittance and exports, according to the report.
The report titled 'Global Economic Prospect: Weak Investment in Uncertain Time' published on Tuesday in Washington.
 "Bangladesh's growth is expected to ease to a still solid 6.8 per cent in the fiscal year 2016-17 from the official estimate of 7.1 per cent in the previous fiscal year," the report said.
The report also said that the WB warned that weakening remittance and exports may lower economic growth to 6.5 per cent in the 2017-18 fiscal.
 "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. The growth may suffer further if stabilising measures are not taken for revenue," it added.
Bangladesh's GDP growth hit the highest ever at 7.11 per cent in the fiscal year 2015-16.