'Bangladesh will achieve 8% growth in FY19'

Bangladesh’s economy will grow at 8 per cent in the fiscal 2019, Asian Development Bank said today in its outlook for the economy.

“Bangladesh’s economy is in a good shape and is likely to grow,” it said in the report ‘Asian Development Outlook 2019’ published this morning.

The Manila-based lender also remarked that “Bangladesh is likely to be the fastest growing economy in Asia and the Pacific” in its report.

It underlined that such momentum is needed to sustain to achieve Bangladesh’s goal of becoming a higher middle-income country and beyond.

ADB Country Director Manmohan Parkash briefing media at the bank's office in Dhaka's Agargaon area on Wednesday, April 3, 2019. Photo: STAR

ADB added, Bangladesh must focus on prudent macroeconomic policies, sound debt management, resource mobilisation, and strengthening banking sector.

Bangladesh is confident that it will surpass the 8 per cent growth threshold in the current fiscal year on the back of manufacturing and service sectors.

Finance Minister AHM Mustafa Kamal has said the growth in fiscal 2018-19 is likely to be 8.13 per cent, up from 7.86 per cent from previous year.