GDP growth in outgoing fiscal year to reach 6.8pc: WB

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MNA Business Desk: Bangladesh’s GDP growth rate in the outgoing fiscal year will reach 6.8 per cent while it will further come down to 6.4 per cent in the next fiscal year (FY18), according to a World Bank report.

The Washington-based lending agency in its report ‘Global Economic Prospect’ released Sunday, attributed the decline in the growth to sliding remittance and fall in internal demand and industrial production.

The report also says the GDP growth rate for Bangladesh in the FY19 will reach 6.7 per cent while it will rise further to 7 per cent in FY20.

It also says the growth in Bangladesh is forecast to remain robust, averaging 6.6 per cent during FY 2018 – FY 2020. This reflects improving remittances as GCC economies recover, as well as rising business confidence and investment.