ADB projects 5.6pc GDP growth

The Asian Development Bank (ADB) on Tuesday projected that Bangladesh may achieve 5.6 per cent GDP growth in the current fiscal against the government’s target of 7.2 per cent. However, the Finance Minister during a half yearly statement on the economy revised the target saying that it might be 6.5 per cent. Making the projection, the ADB said the political unrest has remained to be a major risk to the economy. “This is our mere assumption that the political situation will be stable in the fiscal 2015. But political unrest if recurs will undermine macroeconomic stability and fuel the inflation. We don’t know about the future (of politics),” said Zahid Hossain, principal country economist of ADB. He came up with the remarks while launching the ADB’s annual publication ‘Asian Development Outlook 2014’ at its local office. ADB deputy country director Oleg Tonkonojenkov also spoke on the occasion, according to a news agency.