ADB projects 6.4pc growth for FY15

The Asian Development Bank (ADB) on Thursday projected a 6.4 per cent GDP growth for Bangladesh in the current fiscal year (2014-15) against 6.1pc in the previous fiscal. The inflation is expected to decline to 6.5pc during the period from 7.4p in fiscal 2013-14, the ADB forecast. ADB Principal Economist in Bangladesh Mohammad Zahid Hossain came up with the projection presenting an update report of the Asian Development Outlook 2014 at a press briefing at its office in the city’s Agargaon. ADB country director Kazuhiko Higuchi was present. The update report forecasts an overall growth rate of 6.2pc for the developing Asia in 2014 and 6.4pc in 2015, while inflation at 3.4pc in 2014 and 3.7pc in 2015. According to the ADB forecast, the export growth of Bangladesh will rise to 13pc in FY15, up from 12pc in the FY14, with the momentum picking up in the 2nd half. Remittance growth in the current fiscal is also expected to accelerate to 7pc compared with 1.6pc decline in last fiscal, according to a news agency.