GDP growth forecast for Bangladesh cut to 6.1% for 2014-15

DHAKA, April 21 (NsNewsWire) — Bangladesh’s economic and social progress notwithstanding, the country still faces a number of medium- to longer-term challenges.

GDP growth in FY2015 is projected at 6.1%, lower than the 6.4% forecasted by the Asian Development Outlook 2014 Update, launched in September 2014.

However, growth is expected to rise to 6.4% in FY2016, aided by higher remittance and export growth, as well as the continued economic recovery in the United States (US) and the eurozone area. If the political situation stabilizes, consumer and investor confidence is likely to rise, thereby stimulating demand and strengthening growth momentum. In addition, infrastructure constraints are expected to ease with the completion of ongoing projects, particularly the power plants.