World Bank publishes the ‘Bangladesh Development Update’ for April 2014
World Bank has published the ‘Bangladesh Development Update’ for April 2014, and it notes that economic activities have recovered in the second half of 2014 fiscal year.
The global economy organization has said in its update that obsessed by resilient exports and domestic demand, the following setbacks were suffered in the first half of the current fiscal year due to political uncertainty and turmoil.
A recovery in export growth and increases in public expenditure are likely to help achieve a 5.4% GDP growth in FY14, slightly higher than the average for developing countries but lower than last year’s 6%, the World Bank said.
The political turmoil in the last quarter of 2013 inflicted a value-added loss of about $1.4bn, of which 86% was in services, 11% in industry and the remaining 3% in agriculture.
It also cited on the country’s inflation issues saying, inflation was mounted in recent months due to the cost push from supply disruptions and wage increases.
Stability in global commodity prices, weak domestic demand, and some appreciation of the nominal exchange rate combined with a restrained monetary policy to moderate the recent increase in inflation, the update said.
Source: Dhaka Tribune