The World Bank has termed the economy of Bangladesh stable in the recently published Global Economic Prospect report.
According to the international financial institution, the GDP growth of Bangladesh came down to 6.4% in 2017, compared to the 7.2% achieved in the previous fiscal year. However, the economic growth is currently stable and moving forward at a steady pace.
Commenting on the matter, Director of World Bank Group’s Development Prospect, Ayhan Kos told the correspondent: “The GDP growth will hit 6.7% in the fiscal years of 2018-19, 2019-20 and 2020-2021.
“The rate of growth will remain strong and stable throughout the next few fiscal years.”
The World Bank report shows that the economic growth of Bangladesh will increase to 6.7% in 2018-20 fiscal year, and the country will have a stronger export sector. Investment will also increase due to infrastructural development and low interest rates for loans. Remittance will also rise, as new businesses in the Middle East will start sending money to Bangladesh.
The report also states that the government investment growth has made a positive impact on the private sector of the country as well.
This article was first published on Bangla Tribune