21. Oktober 2012 7 21 /10 /Oktober /2012 14:53
Bangladesh GDP to grow at 6pc: WB
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Sun, Oct 21st, 2012 1:57 pm BdST
Dhaka, Oct 21 (bdnews24.com)— The World Bank, like the Asian Development Bank and the International Monetary Fund, has forecast Bangladesh's economy to grow by 6 percent in the current fiscal despite 'higher potentials'.
It said the government's targeted 7.2 percent growth, forecast in the budget, would not be fulfilled due to Euro Zone financial crisis and low investment in Bangladesh.
However, according to Zahid Hasan, World Bank's senior economist, the projected 6 percent growth for the 2012-13 fiscal was relatively 'healthy' for Bangladesh compared to forecasts for other south and south-east Asian countries
"Bangladesh is 35th out of 150 countries in terms of growth forecast in the IMF World Economic Outlook," he said at a press conference at the bank's Dhaka office.
Zahid Hasan said, according to the list, Pakistan was likely to achieve 3.3 percent growth, Nepal 3.6 percent, Malaysia 4.7 percent, Vietnam, 5.9 percent, India 6 percent, Sri Lanka 6.7 percent and China 8.2 percent.
"Bangladesh has the ability to achieve more than 6 percent growth. But it cannot achieve the expected 7.2 percent growth forecast in the budget due to a decline in export caused by the Euro Zone financial crisis and problems with domestic investment, ," the World Bank official said.
Earlier, the ADB had forecast 6 percent and IMF 6.1 percent GDP growth for Bangladesh.
Bangladesh had achieved 6.32 percent growth in the 2011-12 fiscal.
World Bank's local representative Ellen Goldstein gave the inaugural speech.
Published by Alamgirkingpin