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https://www.devdiscourse.com/Article/22537-imf-bangladeshs-gdp-infy17-accelerated-to-73-percent
IMF: Bangladesh's GDP in FY17 accelerated to 7.3 percent
The Bangladesh economy continues to perform well with robust and stable growth.
IMF 08 Jun 2018, 11:28 PM Bangladesh
The Bangladesh economy continues to perform well with robust and stable growth. The strong growth comes with stable inflation, moderate public debt, and greater resilience to external shocks. The country continues to make steady progress in reducing poverty and improving social indicators.
Real GDP growth in FY17 (ending September 30) further accelerated to 7.3 percent from 7.1 percent in the previous fiscal year, led by strong private consumption and investment. Headline inflation slightly picked up towards the end of the fiscal year with higher food prices caused by a flood-related disruption in the agricultural harvest.
The current account turned into a deficit with slower export growth, higher imports, and decline in remittances, while the balance of payments remained in small surplus. The debt-to-GDP ratio has remained stable at around 30 percent with the fiscal deficit well below the 5 percent of GDP budget target.
The macroeconomic situation is expected to remain robust in FY18. Growth is projected at around 7 percent with strong domestic demand.
Inflation is expected to remain below 6 percent, close to Bangladesh Bank’s target as flood-related pressure on food prices eases with the rice harvest recovery.
The current account deficit is projected to widen to close to 2 percent of GDP with stronger import demand for food, industrial raw materials, and capital machinery, while remittances and exports start to recover. Slow progress in resolving the Rohingya refugee crisis could add to economic, political, and social pressures.
IMF: Bangladesh's GDP in FY17 accelerated to 7.3 percent
The Bangladesh economy continues to perform well with robust and stable growth.
IMF 08 Jun 2018, 11:28 PM Bangladesh
- The macroeconomic situation is expected to remain robust in FY18. (Image Credit: Flickr)
The Bangladesh economy continues to perform well with robust and stable growth. The strong growth comes with stable inflation, moderate public debt, and greater resilience to external shocks. The country continues to make steady progress in reducing poverty and improving social indicators.
Real GDP growth in FY17 (ending September 30) further accelerated to 7.3 percent from 7.1 percent in the previous fiscal year, led by strong private consumption and investment. Headline inflation slightly picked up towards the end of the fiscal year with higher food prices caused by a flood-related disruption in the agricultural harvest.
The current account turned into a deficit with slower export growth, higher imports, and decline in remittances, while the balance of payments remained in small surplus. The debt-to-GDP ratio has remained stable at around 30 percent with the fiscal deficit well below the 5 percent of GDP budget target.
The macroeconomic situation is expected to remain robust in FY18. Growth is projected at around 7 percent with strong domestic demand.
Inflation is expected to remain below 6 percent, close to Bangladesh Bank’s target as flood-related pressure on food prices eases with the rice harvest recovery.
The current account deficit is projected to widen to close to 2 percent of GDP with stronger import demand for food, industrial raw materials, and capital machinery, while remittances and exports start to recover. Slow progress in resolving the Rohingya refugee crisis could add to economic, political, and social pressures.
