World Economy

Bangladesh GDP Growth Above 7%

Bangladesh GDP Growth Above 7% Bangladesh GDP Growth Above 7%

Bangladesh’s gross domestic product growth reached 7.24% this fiscal year, beating all the previous records in the history of the country’s economy, according to a provisional estimate by Bangladesh Bureau of Statistics, reported. Per capita income rises to $1,602, which was $1,466 in the last fiscal year, BBS said Sunday. Economic growth reached record high, riding on buoyant exports and robust agricultural outputs, it said. For fiscal year 2015-16, the GDP growth was 7%, while the target for this fiscal was 7.2%. The planning ministry submitted the report at a meeting of the National Economic Council Sunday. Meanwhile, the World Bank Sunday said that Bangladesh’s economy is likely to grow between 6.4% to 6.8% in 2017 and 2018. “Bangladesh needs higher growth rate to accelerate its journey on the middle-income path,” said the report. “The country will need an investment-led strategy coupled with improvements in the efficiency of public capital. Achieving higher than 7% annual growth on a sustained basis will inevitable require increased productivity growth as well as much higher female labor force participation,” the report added.


Add new comment

Read our comment policy before posting your viewpoints