GDP growth to remain close to 6pc: BB

The country's gross domestic product (GDP) growth is expected to remain close to six per cent at the end of the current fiscal year, though the country witnessed 6.33 per cent growth in the last four fiscal years (2010-2013) on an average, says a Bangladesh Bank analysis, reports UNB.
"There's doubt a bit whether the average growth rate, maintained in the last four fiscal years, would be achieved or not," said the analysis Friday.
The analysis titled 'Five Years of Changes and Transformations: Bangladesh Bank' saw losses, the economy suffered in the last quarter of 2013 due to election-centric political instability, as the reasons behind the slower growth.
The government has revised downward the GDP growth target to 6.5 per cent from 7.2 per cent for the fixcal year 2013 - 2014.
Earlier, former finance adviser to caretaker government Dr AB Mirza Azizul Islam said the country's GDP growth would be around 5.6 per cent in the current fiscal year.
The central bank analysis observed that the country's overall economy remained comfortable in the last five years.
The country had received remittance worth US$ 9.69 billion in 2008-2009 fiscal year whereas the amount stood at US$ 14.46 billion in the last fiscal year (2012-2013).
Meanwhile, the first nine months of the current fiscal year witnessed a remittance inflow of US$ 10.49 billion while the country received remittance worth US$ 12.49 billion on an average in the last four years, according to the central bank data.
The country's export earnings in the first nine months of the current fiscal year stood at US$ 22.24 billions which was 12.88 per cent higher than that of the same period of the last fiscal year.
Bangladesh had earned US$ 15.65 billion in 2008-2009 fiscal year while the export earnings stood at US$ 27.03 billion in the last fiscal year. The country recorded on an average export earnings of US$ 22.61 billion in the last four fiscal years.
The overall import witnessed growth following positive import trend of industrial raw materials and machinery.
The import expenditure in the first eight months of the current fiscal year stood at US$ 26.11 billion which was 16.42 per cent higher than that of the same period of the last fiscal year.
Average import expenditure in the last four years was US$ 30.98 billion while the amount stood at US$ 33.97 billion in the last fiscal year. The import expenditure stood at US$ 22.51 billion in the fiscal 2008-2009.
The country's foreign currency reserve exceeded US$ 20-billion mark on April 14 and it stood at US$ 20.34 billion on April 24 following an increased flow of remittance and export earnings.
The forex reserve witnessed a 170 per cent growth in the last five years, according to the Bangladesh Bank data.