BANGLADESH’S GROWTH TO BE THIRD HIGHEST IN 2016: CNN MONEY


BANGLADESH’S GROWTH TO BE THIRD HIGHEST IN 2016: CNN MONE

01_01_2016-Bangladesh_Growth

Bangladesh’s growth is going to be the third highest in the world in 2016, exceeding China’s. The country’s gross domestic product (GDP) growth is set to record 6.8 per cent in the year.

Only Iraq and India are projected to attain a higher growth. Iraq’s growth is likely to be 7.6 per cent and India’s 7.5 per cent.

Bangladesh’s growth scenario has been reflected in a CNN Money report prepared on the basis of data compiled by International Monetary Fund.

It shows that Bangladesh would be placed in the third position in higher growth potential also in 2017 and in fourth position in the three subsequent years. The CNN list includes only the economies of US$100 billion or more.

The multilateral agency forecast 3.6 per cent global economic growth for 2016. The United Nations foresees even a lower global growth – at 2.9 per cent for the year.

Despite economic slowdown worldwide, the Bangladesh economy is likely to grow at a rate of more than 6 per cent in 2016. The World Bank’s chief economist Kaushik Basu lauded the country’s growth, saying that the Bangladeshis should be proud of this achievement.

In the CNN’s report, Bangladesh was in the 5th position in 2015 in terms of attaining higher economic growth.

Other countries which are in the list of estimated higher growth in 2016 include Qatar (6.5 per cent), China (6.3 per cent), Vietnam (5.8 per cent), Indonesia (5.5 per cent, Mexico (5.5 per cent) and Nigeria (5 per cent).

Member of general economics division of the Planning Commission Shamsul Alam said the estimates of growth at 6 per cent by the World Bank and 6.8 per cent by the IMF are conservative ones.

“We always exceeded their estimates and in fact we can’t find any year when we achieved less than their estimated growth,” he pointed out.

He added that the country is going to achieve more than 7 per cent growth for the first time in 2016 unless there is natural calamity or political unrest. “That’s a good news for us in the year.”

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JANUARY 02, 2015

mygoldenbengal

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About ehsannewyork

An aware citizen..
This entry was posted in ACHIEVEMENTS - SUCCESS, BENGALI NATIONALISM, CHALLENGES, CURRENT ISSUES, ECONOMY, FOREIGN RELATIONS & POLICY, GLOBAL INDICATORS & BENCHMARK, INDUSTRIES, STRATEGY & POLICY. Bookmark the permalink.

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