UN projects 7.1pc growth for BD this year

FE Online Report | Published: December 14, 2017 15:43:39 | Updated: December 16, 2017 13:56:11

A snapshot of an infrastructural development initiative in the city

The United Nations has projected that Bangladesh economy will grow by 7.1 per cent in the current fiscal year (FY18).

On top of it, the organisation also projected that the economy would rise further by 7.2 per cent in the next fiscal year (FY19).

It made the projection in the World Economic Situation and Prospects (WESP) 2018 Report, launched Wednesday.

“Bangladesh economy is set to continue expanding at a rapid pace, underpinned by strong domestic demand, especially large infrastructure projects and new initiatives in the energy sector,” the report said.

“GDP growth is expected to remain above 7.0 per cent in 2018 and 2019,” it added.

The report also projected a lower inflation rate for the country in the current year as well as the next year.

“In 2017, inflation declined to record lows in India and Nepal, while it remained relatively muted in comparison to historical figures in Pakistan, Bangladesh and the Islamic Republic of Iran,” the report added.

It projected that annual average inflation would be 5.4 per cent in the current fiscal year and slightly rise to 5.5 per cent in the next year.

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