Outgoing FY to see 7.78pc GDP growth: PM

Business Desk | Published: 22:34, Jun 27,2018

 
 

A file photo shows a farmer threshing rice on the outskirts of Dhaka. Prime minister Sheikh Hasina on Wednesday told parliament that the GDP growth rate in the outgoing fiscal year (2017-18) would be 7.78 per cent, which is higher than the 7.65 per cent estimated by the Bangladesh Bureau of Statistics. — New Age photo

Prime minister Sheikh Hasina on Wednesday told parliament that the GDP growth rate in the outgoing fiscal year (2017-18) would be 7.78 per cent, which is higher than the 7.65 per cent estimated by the Bangladesh Bureau of Statistics.
‘...7.78 per cent GDP growth has been projected in the current fiscal year, which is the highest in the country’s history,’ she said.
The prime minister said this while replying to a tabled question from Jatiya Party MP Fakhrul Imam (Mymensingh-8), reports United News of Bangladesh.
Earlier, the Bangladesh Bureau of Statistics estimated that the country’s GDP would grow by 7.65 per cent against the government projection of 7.4 per cent for the year.
Leading economists and international lenders like World Bank, however, expressed skepticism over the BBS estimate saying that the economic indicators like stagnant private investment did not support the calculation of GDP at such a higher rate.
Hasina on Wednesday told parliament that the size of the country’s GDP was only $72 billion in the 2005-06 fiscal year, which increased to $274 billion in the 2017-18 fiscal year.
The target has been set in the 7th Five-Year Plan to attain an average 7.4 per cent GDP growth annually. The GDP growth will increase to 8 per cent in 2020, she hoped.
Mentioning her government’s various successes, the prime minister said the country’s foreign currency reserve rose to $33.41 billion in the 2017-18 fiscal year from only $3.48 billion in 2006.
She said the per capita income was only $543 in 2006, which currently stands at $1,752.
The poverty rate has now decreased to 22 per cent from 41.5 per cent in the 2005-06 fiscal year, Hasina said.
The prime minister said the export volume was only $10.5 billion in 2006, which now stands at $34.8 billion.

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