ADB forecasts 6.7% growth for 2015-16

Bangladesh’s growth for this fiscal will improve marginally and stand at 6.7 percent driven by apparel export and domestic consumption, Asian Development Bank forecast today.

The improvement will be 0.1 percent increase from the 6.6 percent growth recorded last fiscal.

Higher growth will be driven by readymade garment export and a resilient domestic consumption, said ADB’s country director for Bangladesh Kazuhiko Higuchi.

He was talking while launching ADB’s Annual Outlook Report 2016 at its Agargaon office in the capital, Dhaka. Earlier in September, ADB had forecast of 6.7 percent annual growth by 2016.

The prediction comes in contradiction to the 7 percent growth target, which Finance Minister AMA Muhith hoped to achieve in his budget of 2015-16 fiscal year.