ADB’s Vice-President Wencai Zhang says Bangladesh economy will grow over 7% in FY2018

[BDforever]

• 

Bangladesh will be able to maintain over 7 percent GDP growth for the third straight year in fiscal 2017-18, Asian Development Bank Vice-President Wencai Zhang thinks.

He expressed his thought at a media briefing at his agency’s office Dhaka’s Sher-e-Bangla Nagar on Thursday.

Citing the achievements in GDP growth in past two fiscal years, Zhang said the ADB forecast was that Bangladesh’s economy would continue to post over 7 percent growth in the current fiscal year.

According to the Bangladesh Bureau of Statistics, the country achieved 7.11 percent GDP growth in 2015-16 and 7.28 percent in 2016-17.

The government has targeted 7.4 percent GDP growth this fiscal.

Zhang also reaffirmed ADB’s commitment to support Bangladesh on implementing SDGs.

He noted that the Manila-based donor will expand lending to $8 billion to Bangladesh during 2016-2020 from $5 billion in 2011-2015.


He pointed out unemployment as the biggest challenge for Bangladesh’s economy and advised emphasising small and medium enterprises or SMEs to tackle it.

In his remarks at the opening session of the Bangladesh Development Forum on Tuesday, he said it was necessary for the country to further boost investment from both public and private sectors to fulfil the country’s growth aspirations and move the economy to a higher growth trajectory.

During the visit, he also met, among others, Finance Minister AMA Muhith.

Zhang, along with Environment and Forests Minister Anisul Islam Mahmud and State Minister of Finance and Planning MA Mannan, launched a publication, ‘The Dhaka Water Services Turnaround’.

He visited Dhaka Water and Sewerage Authority and met with ADB-assisted project beneficiaries before leaving Dhaka on Thursday.
source: https://bdnews24.com/economy/2018/0...bangladesh-economy-will-grow-over-7-in-fy2018

 

[Thanatos]

Brilliant. Lets hope so.

I hope and pray that it crosses 8.0 in next few years. Brilliant job done by awami league.

 

[NeonNinja]

Congratulations to Bangladesh!

 

[Centaur]

Brilliant. Lets hope so.

I hope and pray that it crosses 8.0 in next few years. Brilliant job done by awami league.

But they need to balance. As currently poor became more poor. And market control is necessary. But I hope slowly they will achieve success about this .

 

[bête noire]

Our GDP increase every year in percentage is lowering. We need 12 to 13% GDP increase like before. It seems we keep adding around 22 billion to our GDP when the amount being added should increase every year in relation to percentage and bigger economy. We need at least 11.5% increase every year to reach $1 trillion GDP by 2030.

Estimated 2018 GDP from IMF (rest of the GDP figure is from there too) is $273.62 Billion which is only 9.44% increase from 2017 GDP and an addition of AGAIN only $23 Billion. We need to get increases of 12 to 13% like before.

But they need to balance. As currently poor became more poor. And market control is necessary. But I hope slowly they will achieve success about this .

Poor doesn't become poorer. It's the share of income of poor that is increasing less in percentage than the Rich. Extreme poverty is declining. The poor you are speaking of is relative poverty. There's relative poverty A LOT in Hong Kong too, doesn't mean they are poor. For a country like ours to improve, the rich earnings will increase more than the poor which will widen relative poverty as in median income will be much lower than mean income but poverty is not increasing in BD.

 

[TopCat]

But they need to balance. As currently poor became more poor. And market control is necessary. But I hope slowly they will achieve success about this .

Where did you get this?

 

[Flynn Swagmire]

But they need to balance. As currently poor became more poor. And market control is necessary. But I hope slowly they will achieve success about this .

Not actually! The definition of "poor" is getting broader in Bangladesh. Poverty is reducing and wealth increasing...

 

[Centaur]

Where did you get this?

Not from news papers for sure . Small business men are suffering in my area . They are facing hard time.
Why do you need source anytime ? Try finding in your area if you live outside Dhaka.
But if you belong to upper class , you will not find them. As upper class live in such life style from where everything looks very colorful.

Not actually! The definition of "poor" is getting broader in Bangladesh. Poverty is reducing and wealth increasing...

Maybe but some people are facing hard time too. Specially women who just can't take any kind of jobs.However
government took right decision about not reducing interest rate of bonds .
And lower middle class is in trouble too.
As some 3rd grade jobs in Dhaka offering same 8-10 thousand starting salary . It was almost same before even 7-8 years.
Women from lower middle class family who desperately want to support their family ( but don't like show off ), still taking those jobs .
If you live in Dhaka please try to get those information.

Extreme poverty is declining

No disagreement with this part . I was talking about lower middle class family actually.

 

[BitHeroBD]

Another paid agent of hakka awami cheer squad - idune

On a serious note, good progress. Hopefully Padma Bridge will act as the crucial puzzle piece that catapults us over 8%

 

[Homo Sapiens]

• 

Bangladesh will be able to maintain over 7 percent GDP growth for the third straight year in fiscal 2017-18, Asian Development Bank Vice-President Wencai Zhang thinks.

He expressed his thought at a media briefing at his agency’s office Dhaka’s Sher-e-Bangla Nagar on Thursday.

Citing the achievements in GDP growth in past two fiscal years, Zhang said the ADB forecast was that Bangladesh’s economy would continue to post over 7 percent growth in the current fiscal year.

According to the Bangladesh Bureau of Statistics, the country achieved 7.11 percent GDP growth in 2015-16 and 7.28 percent in 2016-17.

The government has targeted 7.4 percent GDP growth this fiscal.

Zhang also reaffirmed ADB’s commitment to support Bangladesh on implementing SDGs.

He noted that the Manila-based donor will expand lending to $8 billion to Bangladesh during 2016-2020 from $5 billion in 2011-2015.


He pointed out unemployment as the biggest challenge for Bangladesh’s economy and advised emphasising small and medium enterprises or SMEs to tackle it.

In his remarks at the opening session of the Bangladesh Development Forum on Tuesday, he said it was necessary for the country to further boost investment from both public and private sectors to fulfil the country’s growth aspirations and move the economy to a higher growth trajectory.

During the visit, he also met, among others, Finance Minister AMA Muhith.

Zhang, along with Environment and Forests Minister Anisul Islam Mahmud and State Minister of Finance and Planning MA Mannan, launched a publication, ‘The Dhaka Water Services Turnaround’.

He visited Dhaka Water and Sewerage Authority and met with ADB-assisted project beneficiaries before leaving Dhaka on Thursday.
source: https://bdnews24.com/economy/2018/0...bangladesh-economy-will-grow-over-7-in-fy2018

IMF also saying the same.Only World Bank forecast is significantly lower at 6.4 percent.

 

[Flynn Swagmire]

Maybe but some people are facing hard time too. Specially women who just can't take any kind of jobs.However
government took right decision about not reducing interest rate of bonds .
And lower middle class is in trouble too.
As some 3rd grade jobs in Dhaka offering same 8-10 thousand starting salary . It was almost same before even 7-8 years.
Women from lower middle class family who desperately want to support their family ( but don't like show off ), still taking those jobs .
If you live in Dhaka please try to get those information.

Government of a developing country just can't ensure everyones prosperity! Its a hard fact bro...

 

[Centaur]

Government of a developing country just can't ensure everyones prosperity! Its a hard fact bro...

Yes exactly bro. That's why i believe slowly ( but Sooner) government will focus on this .

 

[UKBengali]

BD economy is doing great and with Padma Bridge and Payra coal-fired power plant due to come online by 2019, growth of 8% should be possible next year.

 

[Bilal9]

Watchout for Kalagiri coming back in another name and dissing this ADB president as paid agent of Awami League.

 

[Doctor Strange]

Another paid agent of hakka awami cheer squad - idune

On a serious note, good progress. Hopefully Padma Bridge will act as the crucial puzzle piece that catapults us over 8%

I dont blame this Tareq Chora's supporters. They are in trouble under the Gov. Many lost their possessions due to Awami pressure. Many have hooked up with Awamis and doing well. Lost guys like those only do bravado in Social media now and pretend to be angelic figures. But in reality these are no better than chindi chora awamis. Did business with one such Tareq chora's follower, didnt he only do fraud with total business capital but also occasionally pick pocketed from my wallet. Now his whereabouts is unknown, Im actively looking for him. Maybe its that guy indur