The World Bank lauded Bangladesh’s progress during the ongoing 2015-16 fiscal, but doubted the government’s forecast of a 7 percent growth in the country’s gross domestic product (GDP).
According to the global lender, all the key macroeconomic indicators, except for export earnings, show a negative trend during the fiscal.
On Saturday, its Dhaka office launched the report ‘Bangladesh Development Update.’
After the government said that Bangladesh would grow by over 7 percent by the end of the current fiscal, the World Bank has been expressing doubts.
Both Finance Minister AMA Muhith and Planning Minister AHM Mustafa Kamal have said that the multilateral agency’s forecast is not always accurate.
In its January 2016 ‘Global Economic Prospects’ report, the World Bank said that Bangladesh ‘s GDP growth would stand at 6.7 percent.
Speaking to the media on Saturday, WB Dhaka office’s Lead Economist Zahid Hussain, however, said Bangladesh’s GDP will grow by 6.7 percent in the next 2016-17 fiscal.
“The latest data released by government shows negative trend in all indicators except exports,” he said.
Referring to growth forecasts by several organisations, he said, “Some predict 6.3, some 6.6 and then again there are forecasts of 6.8 while the government says 7.05.
“All of them are over six. Whatever it may be, it’s one of the highest growths across the globe.”
Source: bdnews24