World Bank forecasts 6.8pc growth for 2016
Global Economic Prospects report released
BSS
Bangladesh economy would grow at the rate of 6.8 per cent in 2016, supported by eased political tension and rebounded export earnings, according the latest report of the World Bank (WB), reports BSS.
The report Global Economic Prospects, released yesterday in Washington, gave a picture of the prospects and challenges of the global economy in 2016.
It said that the weak growth among major emerging markets would weigh on global growth this year, but the growth in South Asia region would rise to 7.3 per cent this year from 7 per cent of 2015.
For Bangladesh, the outlook was stable as the report predicted constant 6.8 per cent GDP (gross domestic product) growth for the next three years till 2018.
With this latest forecast, the multi-donor agency raised its economic outlook for Bangladesh again as it earlier said the GDP would grow by 6.5 per cent at the end of the current 2015-16 financial year.
According to the report, Indian economy would grow by 7.7 per cent this year when the GDP growth in Afghanistan would be 3.1 per cent, Bhutan 7.2 per cent, the Maldives 3.1 per cent, Nepal 3.7 per cent, Pakistan 5.5 per cent and Sri Lanka 5.6 per cent. Bangladeshs growth forecast is the third highest among SAARC countries when the highest prediction was for India (7.7 per cent) and the lowest was for the Maldives (3.1 percent) and Afghanistan (3.1 per cent).
The International Monetary Fund (IMF) already lifted the economic outlook for Bangladesh to 6.8 per cent, close to the fiscal target of 7 per cent. The ADB also raised the GDP to growth prediction to 6.7 per cent.
The WB report, however, cautioned that a resumption of political tensions would hinder the steady economy growth.
