Bangladesh to achieve 7.4pc GDP growth in FY18: Muhith

Finance Minister AMA Muhith yesterday said Bangladesh will achieve 7.4 per cent GDP growth in the current financial year 2017-18 (FY18) according to its estimate, reports BSS.

“Every year, the World Bank estimates GDP growth lower than what happens. I think, the growth will be what I said earlier,” he told the journalists after the Cabinet Committee on Government Purchase (CCGP) at the cabinet division in the city.

In the update the World Bank forecast that Bangladesh’s GDP to grow by 6.4 per cent in fiscal year 2017-18.

Responding to a question, Muhith said the probe body report on the cyber heist of Bangladesh Bank’s (BB) account with New York’s Reserve Bank will not be made public now for keeping smooth the process of recovery of the whole amount.

The Philippine Government ensured Bangladesh to recover the whole money, he added.

Hackers had stolen a total US$101 million from Bangladesh’s account at the New York Fed in February, 2016.

Of the amount, $81 million was transferred to four accounts at RCBC in Manila and another $20 million to a bank in Sri Lanka but their efforts to transfer of $20 million to Sri Lanka was failed because of a spelling error by the hackers.

Bangladesh has already retrieved approximately $15 million from Philippine.

Muhith also hoped that Bangladesh will recover the whole amount of heist money.

Bangladesh to achieve 7.4pc GDP growth in FY18: Muhith

Finance Minister AMA Muhith yesterday said Bangladesh will achieve 7.4 per cent GDP growth in the current financial year 2017-18 (FY18) according to its estimate, reports BSS. Every year, the World Bank estimates GDP growth lower than what happens. I think, the growth will be what I said earlier, he told the journalists after the Cabinet Committee on Government Purchase (CCGP) at the cabinet division in the city. In the update the World Bank forecast that Bangladeshs GDP to grow by 6.4 per cent in fiscal year 2017-18. Responding to a question, Muhith said the probe body report on the cyber heist of Bangladesh Banks (BB) account with New Yorks Reserve Bank will not be made public now for keeping smooth the process of recovery of the whole amount. The Philippine Government ensured Bangladesh to recover the whole money, he added. Hackers had stolen a total US$101 million from Bangladeshs account at the New York Fed in February, 2016. Of the amount, $81 million was transferred to four accounts at RCBC in Manila and another $20 million to a bank in Sri Lanka but their efforts to transfer of $20 million to Sri Lanka was failed because of a spelling error by the hackers. Bangladesh has already retrieved approximately $15 million from Philippine. Muhith also hoped that Bangladesh will recover the whole amount of heist money.