ADB forecasts 6.7pc GDP growth

Bangladesh economy is expected to perform strongly this year, according to the latest figures from the Asian Development Bank (ADB).

ADB in its outlook update 2015 forecasted that Bangladesh’s Gross Domestic Product (GDP) growth will be 6.7 percent this fiscal year, up from 6.5 percent in the previous year.

“Brisk domestic demand, supported by remittances, public investment and manufacturing for domestic market pulled the economic growth in FY2015,” Kazuhiko Higuchi, country director of ADB, said at a media briefing at the Bank’s Dhaka office today.

The report was launched simultaneously at all ADB’s member economies. 

ADB in its March outlook report projected Bangladesh’s GDP growth at 6.1 percent for the previous year, but it was 6.5 percent, according to the government’s provisional estimates.

The latest ADB report hailed Bangladesh’s macroeconomic management, which it said has helped reduce inflation to 6.4 percent in FY2015, down from 7.4 percent a year ago.