World Bank forecasts 6.7pc growth for 2018 | 2018-01-11 |

World Bank forecasts 6.7pc growth for 2018

11 January, 2018 12:00 AM printer

Bangladesh economy would grow at 6.7 percent in 2018, thanks to the friendly fiscal measures and development initiatives, according to the latest report of the World Bank (WB).

The report Global Economic Prospects, released Wednesday in Washington, depicted a picture of the prospects and challenges of the global economy in 2018, reports BSS.

WB has forecasted global economic growth to edge up to 3.1 percent in 2018 after a much stronger-than-expected 2017, as the recovery in investment, manufacturing, and trade continues.

"Growth in advanced economies is expected to moderate slightly to 2.2 percent in 2018, as central banks gradually remove their post-crisis accommodation and the upturn in investment growth stabilizes," it added.

The international donor agency also said growth in emerging market and developing economies as a whole is projected to strengthen to 4.5 percent in 2018, as activity in commodity exporters continues to recover amid firming prices.

Bangladesh government has set a target to achieve 7.4 percent GDP growth for the current fiscal.

With this latest WB forecast, the multi-donor agency raised its economic outlook for Bangladesh again as it earlier said the GDP would grow by 6.4 percent in 2017.

According to the report, Indian economy would grow by 7.3 percent this year when the GDP growth in Afghanistan would be 3.4 percent, Bhutan 6.9 percent, the Maldives 4.9 percent, Nepal 4.5 percent, Pakistan 5.8 percent and Sri Lanka 5 percent.

Bangladesh's growth forecast is the third highest among SAARC countries when the highest prediction was for India (7.3 percent) and the lowest was for the Afghanistan (3.4 percent).