What's new

GDP will Grow above 7%, says Bangladesh Bank

eastwatch

SENIOR MEMBER
Jun 19, 2008
7,503
1
6,609
Country
Bangladesh
Location
Japan
GDP growth rate will be above 7pc:
Wednesday, 13 April 2011
Author / Source : STAFF REPORTER

Dhaka, Apr 12: The growth in GDP (Gross Domestic Product) in the next financial year (FY) would cross 7 per cent and the real GDP achievement will be nearer to 7 per cent in the current FY, Bangladesh Bank (BB) governor Dr Atiur Rahman said on Tuesday.

He said Bangladesh's macro economy now is in the 'qualitative growth phase' and it is standing on better foundation resulted from multiple initiatives including policy support jointly by the government and central bank.

"Our growth is participatory and sustainable," Dr Atiur claimed at a roundtable discussion on "Financing Agro-based Small and Medium Enterprises (SMEs)" organised by apex trade body Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) at its conference room in association with BRAC Bank.

The governor said Bangladesh is likely to obtain the same ranking this year by the US-based Moody's Investors Service, one of the world's major global rating agencies which last year ranked Bangladesh as an emerging economy in Asia.

"Primarily, I have received indications that Bangladesh's ranking by Moody will not be downgraded this year. Vietnam was ranked above Bangladesh but the country likely to downgrade from its previous position," he said.
He said the rating is meant for Bangladesh's macroeconomic undamentals were on better footing and it had less chance to encounter severe stress on creditworthiness.

Terming the share market debacle and liquidity crisis as 'Growth Pains', the central bank governor in reply to a question by a discussant said, "Every growth has some pains and we must overcome the pains through patience and abiding by the rule of law."

"The prime concern of us right now is to create employment. We need 30 lakh employments every year to accommodate the jobseekers and only the manufacturing sector could play a big role in this regard," said the governor while commenting on flow of liquidity.

He said SME financing is important to create employment for elimination of income differences at the rural areas. He said the central bank has achieved 65 percent of its total target to disburse agricultural credit for SMEs in the current FY. "The target this year was set to disburse Tk. 13,000 crore while the target last year was Tk. 11,000 crore," he said.

He said the country's agricultural sector is emerging as an industry. The central bank is in process to initiate several schemes for value addition to agricultural products by Asian Development Bank's association.
He also underscored the need to increase production of both the agricultural and industrial sectors in order to create employment.

He said Inflation in the neighboring country is high enough than Bangladesh. "Give us some time. I expect association from you (trade Bodies) all to step up with our own initiatives to control inflation," he said.
Speaking on rate of interest against industrial credit, Dr Atiur said the central bank as a regulator has limitations in curtailing the interest rate.
 
It is good Bangladesh policy makers has realised that Manufacturing led growth is the way.

These thugs here are very much contempt with services and IT.

From the last 3 Months, Manufacturing growth is only 3% :cry:

To sustain High Economic Growth Rates, Manufacturing, Heavy Engineering and Export oriented Growth is the way.:tup:

Industry contributes 16% to India's GDP.
What about Bangladesh? .
 
So government doing good work their ???? ;)
What Bangladeshi members views about that ?:lol:

Are you kidding... The AL govt is dragging BD down by the shackles....if it were not for these hindu slaves BD would have been able to achieve double this growth rate. Don't underestimate the potential.

On a serious note, I am happy that the growth is picking up and the stronger BD's economic growth is the lesser migration we will see and lesser tensions on the border.
 
Congratulations to all Bangladeshis. Hope for a better and prosperous Bangladesh
bangladesh.gif
.....


on the side note this is indian conspiracy along with bangladesh stooge government else it would be 70%
 
It is good Bangladesh policy makers has realised that Manufacturing led growth is the way.

These thugs here are very much contempt with services and IT.

From the last 3 Months, Manufacturing growth is only 3% :cry:

To sustain High Economic Growth Rates, Manufacturing, Heavy Engineering and Export oriented Growth is the way.:tup:

Industry contributes 16% to India's GDP.
What about Bangladesh? .

Are you serious? only 16%?
 
Congratulations to all Bangladeshis. Hope for a better and prosperous Bangladesh
bangladesh.gif
.....


on the side note this is indian conspiracy along with bangladesh stooge government else it would be 70%

Avatar appears as a healthy young woman of child bearing age. The pic is causing a disturbance in my force. Ploy by RAW/Mossad ? Positively.

Thanks for the kind words (- the jab).
 

Users Who Are Viewing This Thread (Total: 2, Members: 0, Guests: 2)


Pakistan Defence Latest Posts

Back
Top Bottom