Bangladesh estimates 7.65 percent economic growth for this fiscal year


Bangladesh has estimated 7.65 percent economic growth for the fiscal year ending Jun 30, heading for the fastest pace on record. The growth will accelerate from the previous record of 7.28% in fiscal 2016-17.

Per capita income will rise to $1,752 in fiscal 2017-18 from $1,610 a year ago, Planning Minister AHM Mustafa Kamal said sharing the numbers at a key meeting in Dhaka on Tuesday.

7.65% growth estimated for this fiscal year.

The estimates are based on data from the first nine months (July-March) of the current fiscal year.

Kamal says Bangladesh’s economic growth will hit 8 percent in the next fiscal year.

The government had set a target of 7.4 percent GDP growth in the budget announced for the current fiscal year.

Bangladesh estimates 7.65 percent economic growth for this fiscal year, fastest on record.

The numbers were revealed by Kamal at the meeting of the Executive Committee of National Economic Council, chaired by Prime Minister Sheikh Hasina.

After being stuck in the 6 percent range for nearly a decade, the economy finally surpassed 7 percent economic growth in fiscal 2015-16.

Bangladesh’s economy is expected to expand to $274.5 billion by the end of the fiscal year from $249 billion last year, the minister said.