6.3pc maximum possible GDP growth of BD in 2015-16: WB

The World Bank says Bangladesh GDP growth for 2015-2016 is unlikely to cross 6.3 per cent. In its June, 2015, report on "Global Economic Prospects", the WB says Bangladesh is still hamstrung by the adverse impact of political violence on exports in the previous fiscal year (FY 2014-2015). "In Bangladesh, the growth forecast for FY 2015 has been revised down on account of recent political tensions. The forecast is now 5.6 per cent, compared with 6.4 per cent in the previous forecast and 6.1 per cent in the FY2014," the report said. The Bangladesh Bureau of Statistics (BBS) has forecast a 6.51pc growth this fiscal. "As tensions settle, growth should pick up in line with a recovery in exports and investment. Consumption should also remain supported by resilient remittance inflows, particularly following the resumption of migration of Bangladeshi workers to Saudi Arabia. With the economy running at capacity, growth is expected to remain at close to potential over the forecast period," the WB report said. If stability prevails, the strong domestic demand base, gradually improving investment climate and moderate single digit inflation are expected to raise GDP growth to 6.3pc, Zahid Hussain, lead economist of the WB’s Dhaka office, said, according to bdnews24.com.