forecast

WB forecasts 7.0pc growth for Bangladesh in FY19

MNA Business Desk: The World Bank has forecast a growth rate of 7.0 per cent for Bangladesh this fiscal year on the back of robust private investment, increased exports and remittance inflows.

The projection is lower than the Asian Development Bank’s estimate of 7.5 per cent and the government’s 7.8 per cent for fiscal 2018-19, reported news agency.

Driven by strong domestic demand, Bangladesh’s economy remains among the fastest growing economies in the developing world and it would grow at an even faster pace if it implemented economic reforms, the World Bank said in a new report launched in Dhaka.

Growth will remain resilient, underpinned by strong domestic demand and structural transformation, but there is no room for complacency, according to the latest Bangladesh Development Update.

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