WB projects 7.2pc GDP growth for Bangladesh

Bangla Tribune Report
Published : 17:56, Oct 10, 2019 | Updated : 20:25, Oct 10, 2019

The Tk 220 billion Dhaka Metrorail mass transit system will carry 60,000 people per hour. NASHIRUL ISLAM/File Photo

The World Bank has forecast 7.2 percent GDP growth for the current fiscal year (FY2019-20) of Bangladesh against the 8.2 percent that the government projected for the same fiscal year in the national budget.
The global lender made the projection in its report titled "Bangladesh Development Update, Tertiary Education and Job Skills," launched at its Dhaka office on Thursday (Oct 10).
"GDP growth is likely to continue at 7.2 percent driven by manufacturing," the report says.
The report added: "Macroeconomic stability is expected to be sustained with less than 6 percent inflation and modest increases in the twin deficits."
The Washington-based lending agency said Bangladesh's economy is likely to sustain robust growth in the coming days as it sustained strong growth with macroeconomic stability in 2018-19 fiscal led by industry, rising exports, domestic consumption and record remittances.
In the near and medium-term, the outlook is positive subject to global headwinds and domestic risks, according to the report.
The WB, however, projected 7.3 percent GDP growth rate for Bangladesh in the next fiscal year 2020-21 fiscal.