The Asian Development Bank (ADB) has forecasted that Bangladesh’s Gross Domestic Product (GDP) growth is expected to grow to 6.7% in this fiscal year.
“The current growth momentum is expected to be strengthened, raising the GDP growth to 6.7% in FY2016, and 6.9% in FY2017,” said ADB country director Kazuhiko Higuchi at a press briefing at its Dhaka office Wednesday.
He said: “Higher growth will be driven by readymade garments export and a resilient domestic consumption. Growth is likely to be reasonably broad-based with a stronger performance by manufacturing.”
However, the ADB’s latest GDP projection is lower than the government’s revised target of 7% growth. Finance Minister AMA Muhith in his budget speech targeted 7% GDP growth for the 2015-16 fiscal year.
