ADB suggests scaling up investment to achieve higher GDP growth

In line with the provisional figure of the Bangladesh Bureau of Statistics (BBS), Asian Development Bank (ADB) estimated 6.1 per cent growth in the gross domestic product (GDP) in the 2013-14 financial year (FY14) that ended on June 30. The ADB in its quarterly economic outlook for Bangladesh, released on  Wednesday, said the higher growth in export contributed to the higher GDP growth at the end of the immediate past fiscal year. The ADB, however, suggested scaling up investment to achieve higher GDP growth. "For faster poverty reduction, Bangladesh needs to lift its annual GDP growth rate to about 8.0 per cent in the medium term," the update said, according to a news agency.