CaPtAiN_pLaNeT
SENIOR MEMBER
WB projects stable growth for Bangladesh economy
WB projects stable growth for Bangladesh economy
WB projects stable growth for Bangladesh economy
Bangladesh economy will remain stable with over 6.0 per cent GDP growth in the next two years when most of the countries including neighbouring India will see a slowdown, according to the World Bank (WB) Global Economic Prospects (GEP) 2012, released in Washington Wednesday, reports BSS.
The report shows that the economy in Bangladesh this year would grow by 6.1 per cent when India would have a slowdown with 6.0 per cent growth, lower from last year's 7.0 per cent.
In South Asia, Bangladesh will have over 6.0 per cent growth only after Sri Lanka where the gross domestic product (GDP) this year will be 6.8 per cent. Pakistan will have 4.0 per cent and Nepal 3.5 per cent growth this year, the report said.
The report further said the GDP growth would ease up next year to 6.3 per cent in Bangladesh, 7.5 per cent in India, 7.7 per cent in Sri Lanka, 4.2 per cent in Pakistan and 3.8 per cent in Nepal.
"Following a vibrant 9.1 per cent growth rate in 2010, real GDP growth in South Asia decelerated to an estimated 6.6 per cent in 2011, with a sharp fall-off evident in industrial production and trade late in the year," the report said.
The WB report noted that the regional growth exceeded the long-term average of 6.0 per cent, reflecting above trend activity in Bangladesh, India and Sri Lanka. It also pointed out some risks and vulnerabilities, which require special attention to accelerate growth.
In this report, the WB recommended fiscal consolidation through greater revenue mobilisation and expenditure rationalisation to protect critical social programmes.
"Expanding the drivers of growth also holds potential," the report said and suggested pursue new sources of growth in both domestic and external markets, which may include focusing on export growth toward faster growing emerging markets, as well as internal market enhancements through structural and governance reforms.
"Such actions would help boost export demand, help raise investment, provide better jobs and generate an environment for more inclusive growth," it added.
Projecting lower global growth which would be 3.4 per cent in 2012 and 4.0 in 2013, the WB advised developing countries to evaluate their vulnerabilities and prepare for facing further shocks, while there is still time.
WB projects stable growth for Bangladesh economy
WB projects stable growth for Bangladesh economy
Bangladesh economy will remain stable with over 6.0 per cent GDP growth in the next two years when most of the countries including neighbouring India will see a slowdown, according to the World Bank (WB) Global Economic Prospects (GEP) 2012, released in Washington Wednesday, reports BSS.
The report shows that the economy in Bangladesh this year would grow by 6.1 per cent when India would have a slowdown with 6.0 per cent growth, lower from last year's 7.0 per cent.
In South Asia, Bangladesh will have over 6.0 per cent growth only after Sri Lanka where the gross domestic product (GDP) this year will be 6.8 per cent. Pakistan will have 4.0 per cent and Nepal 3.5 per cent growth this year, the report said.
The report further said the GDP growth would ease up next year to 6.3 per cent in Bangladesh, 7.5 per cent in India, 7.7 per cent in Sri Lanka, 4.2 per cent in Pakistan and 3.8 per cent in Nepal.
"Following a vibrant 9.1 per cent growth rate in 2010, real GDP growth in South Asia decelerated to an estimated 6.6 per cent in 2011, with a sharp fall-off evident in industrial production and trade late in the year," the report said.
The WB report noted that the regional growth exceeded the long-term average of 6.0 per cent, reflecting above trend activity in Bangladesh, India and Sri Lanka. It also pointed out some risks and vulnerabilities, which require special attention to accelerate growth.
In this report, the WB recommended fiscal consolidation through greater revenue mobilisation and expenditure rationalisation to protect critical social programmes.
"Expanding the drivers of growth also holds potential," the report said and suggested pursue new sources of growth in both domestic and external markets, which may include focusing on export growth toward faster growing emerging markets, as well as internal market enhancements through structural and governance reforms.
"Such actions would help boost export demand, help raise investment, provide better jobs and generate an environment for more inclusive growth," it added.
Projecting lower global growth which would be 3.4 per cent in 2012 and 4.0 in 2013, the WB advised developing countries to evaluate their vulnerabilities and prepare for facing further shocks, while there is still time.