Bangladesh heading for fastest economic growth in FY17

[TopCat]

The government believes economic growth will hit 7.24 percent, the fastest in the history of Bangladesh, surpassing the expectations of the budget.

The estimates by Bangladesh Bureau of Statistics or BBS are based on information from the first ten months of 2016-17 (July-April).

BBS has estimated that Bangladesh’s per capita income will rise to $1,602 by the end of the current fiscal year, up from $1,465 in FY16.

The numbers were revealed by Planning Minister AHM Mustafa Kamal at the National Economic Council (NEC) meeting led by Prime Minister Sheikh Hasina on Sunday.

“This is the result of our combined efforts,” Hasina said. “These achievements have been possible because of the continuity of governance.”

The final BBS calculation for the previous fiscal year found the growth rate to be 7.11 percent and the per capita income at $1,465.
http://bdnews24.com/economy/2017/05/14/bangladesh-heading-for-fastest-economic-growth-in-fy17
After being stuck in the 6 percent range for nearly a decade, the Bangladesh economy finally surpassed 7 percent economic growth in 2015-16.

The budget formed last June set a growth target of 7.2 percent for FY 2016-17.

 

[Srinivas]

All hail Awami League!

 

[EastBengalPro]

The government believes economic growth will hit 7.24 percent, the fastest in the history of Bangladesh, surpassing the expectations of the budget.

The estimates by Bangladesh Bureau of Statistics or BBS are based on information from the first ten months of 2016-17 (July-April).

BBS has estimated that Bangladesh’s per capita income will rise to $1,602 by the end of the current fiscal year, up from $1,465 in FY16.

The numbers were revealed by Planning Minister AHM Mustafa Kamal at the National Economic Council (NEC) meeting led by Prime Minister Sheikh Hasina on Sunday.

“This is the result of our combined efforts,” Hasina said. “These achievements have been possible because of the continuity of governance.”

The final BBS calculation for the previous fiscal year found the growth rate to be 7.11 percent and the per capita income at $1,465.
http://bdnews24.com/economy/2017/05/14/bangladesh-heading-for-fastest-economic-growth-in-fy17
After being stuck in the 6 percent range for nearly a decade, the Bangladesh economy finally surpassed 7 percent economic growth in 2015-16.

The budget formed last June set a growth target of 7.2 percent for FY 2016-17.

Yeah we are doing pretty fine!

 

[Banglar Bir]

Remarkable is the word, need to wait longer till closing of this FY, along with WB/ADB figures.

 

[Homo Sapiens]

The government believes economic growth will hit 7.24 percent, the fastest in the history of Bangladesh, surpassing the expectations of the budget.

The estimates by Bangladesh Bureau of Statistics or BBS are based on information from the first ten months of 2016-17 (July-April).

BBS has estimated that Bangladesh’s per capita income will rise to $1,602 by the end of the current fiscal year, up from $1,465 in FY16.

The numbers were revealed by Planning Minister AHM Mustafa Kamal at the National Economic Council (NEC) meeting led by Prime Minister Sheikh Hasina on Sunday.

“This is the result of our combined efforts,” Hasina said. “These achievements have been possible because of the continuity of governance.”

The final BBS calculation for the previous fiscal year found the growth rate to be 7.11 percent and the per capita income at $1,465.
http://bdnews24.com/economy/2017/05/14/bangladesh-heading-for-fastest-economic-growth-in-fy17
After being stuck in the 6 percent range for nearly a decade, the Bangladesh economy finally surpassed 7 percent economic growth in 2015-16.

The budget formed last June set a growth target of 7.2 percent for FY 2016-17.

 

[Abdul_Jalil]

Good news.

 

[bd_4_ever]

Well some people certainly wouldn't like the BBS "propaganda".

Jokes apart, wasn't the estimates few days ago (not sure was it by WB or IMF) said shy below 7?

 

[UKBengali]

Well this is ok. Need to push past 8% as soon
as possible.

 

[Mage]

7.25% is what we should achieve this FY. It would be unfortunate if we can't. We need to wait till the end if this FY to see how much the economy has grown. Every one comes up a different number these days.

 

[TopCat]

Like always we had double digit growth in industrial sector. I wonder what would be the contribution of industry in the gdp after this year.

 

[UKBengali]

Like always we had double digit growth in industrial sector. I wonder what would be the contribution of industry in the gdp after this year.

BD has little arable land for it's population and so needs high industrial growth to drive growth.

Things are going rather nicely with garments powering growth right now, while the infrastructure and the EPZs are built to sustain and drive growth to even higher levels.

 

[Vigneshwara]

Looks like Sheikh Hasina is doing wonders for bangladesh.

 

[idune]

This is another awami cheer leading band attempt to spread awami propaganda in face of real picture of economy. 3 key growth engines of economy, all declining badly BUT awami league and its echo chamber keep cooking up growth figure.

Export earnings failed to hit target in July-April
https://defence.pk/pdf/threads/export-earnings-failed-to-hit-target-in-july-april.495394/

Severe damage to boro rice harvest because of floods and storm

Decline in remittances hits the economy badly
http://www.theindependentbd.com/arcprint/details/71880/2016-12-10

 

[TopCat]

This is another awami cheer leading band attempt to spread awami propaganda in face of real picture of economy. 3 key growth engines of economy, all declining badly BUT awami league and its echo chamber keep cooking up growth figure.

Export earnings failed to hit target in July-April
https://defence.pk/pdf/threads/export-earnings-failed-to-hit-target-in-july-april.495394/

Severe damage to boro rice harvest because of floods and storm

Decline in remittances hits the economy badly
http://www.theindependentbd.com/arcprint/details/71880/2016-12-10

Remittance is 6% of the gdp now. So fluctuation in remittance has minor effect in gdp growth rate. Update yourself. You people never want to leave stone ages, even though there is no more stones around.

 

[24 Hours]

Growth 6.4pc to 6.8pc in 2017-18, predicts WB report

Star Online Report

Bangladesh's gross domestic product (GDP) growth reached 7.24 percent this fiscal year, beating all the previous records in the history of the country’s economy, according to a provisional estimate by BBS.

Meanwhile, per capita income rises to $1,602, which was $1,466 in the last fiscal year, Bangladesh Bureau of Statistics (BBS) said today.

The economic growth reached the record high, riding on buoyant exports and robust agricultural outputs, it said.

For fiscal year 2015-16, the GDP growth was 7.02 percent, while the target for this fiscal was 7.2 percent.

The Planning Ministry submitted the report at a meeting of the National Economic Council (NEC) today, highly placed sources at the ministry told The Daily Star.


Growth 6.4pc to 6.8pc in 2017-18: WB
Meanwhile, the World Bank today said that Bangladesh’s economy is likely to grow between 6.4 percent to 6.8 percent in 2017 and 2018.

The WB said this in its report titled ‘Bangladesh Development Update: Breaking Barriers’ released at its country office in Dhaka’s Agargaon today.

“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 percent annual

growth on a sustained basis will inevitable require increased productivity growth as well as much higher female labour force participation,” the report added.

People work in a garment factory. Star file photo

http://www.thedailystar.net/busines...h-record-724pc-capital-income-usd1602-1405051