GDP growth 7.05% in current fiscal year

GDP growth in Bangladesh has hit its highest point for the first time in history. According to a report by the Bureau of Statistics, GDP growth has reached 7.05% in the 2015-2016 fiscal year. Per capita income is now 1466 US dollars. Planning Minister Mustafa Kamal made this announcement at an ECNEC meeting this morning.

The government had earlier announced a budget of 3 trillion Taka to achieve 7% GPD growth. ADP funds were also allocated for development of infrastructure and of the energy sectors. Based on the rate at which these projects are being implemented, the World Bank, ADB and IMF had predicted that Bangladesh may not be able meet its targeted GDP growth.

However, a report published by the Bureau of Statistics stated that GDP growth has hit 7.05%. The bureau stated that this growth is a direct result of development in the agriculture, industrial, and services sectors.