Friday, May 2, 2014

GDP growth to remain close to 6%: BB

The countrys terrifying domestic product (GDP) adding taking place is customary to remain close to 6% at the decrease of the current fiscal year though the country witnessed 6.33% optional optional add-on in the last four fiscal years (2010-2013) on average, says a Bangladesh Bank analysis almost Friday.

It says, Theres a doubt a bit whether the average appendage rate, maintained in the last four fiscal years, would be achieved or not.

The analysis titled Five Years of Changes and Transformations: Bangladesh Bank sees losses, the economy suffered in the last quarter of 2013 due to election-centric political instability, as the reasons astern the slower adding taking place.

The admin has revised down fiscal 2013-14s GDP exaggeration desire to 6.5% from 7.2%.

Earlier, former finance assistant to a caretaker government AB Mirza Azizul Islam said the countrys GDP count happening will be approximately 5.6% in the current fiscal year.

The central bank analysis observed that the countrys overall economy remained to your liking in the last five years.

Remittance

The country had period-fortunate remittance worth $ 9.69 billions in 2008-2009 fiscal year whereas the amount stood at $ 14.46 billions in the last fiscal year (2012-2013)

Meanwhile, the first nine months of the current fiscal year witnessed a remittance inflow of $ 10.49 billions even if the country usual remittance worth $ 12.49 billions approaching average in the last four years, according to the central bank data.

Exports

The countrys export earnings in the first nine months of the current fiscal year stood $ 22.24 billions which is 12.88% more than that of the related period of the last fiscal year.

Bangladesh had earned $ 15.65 billions in 2008-2009 fiscal year though the export earnings stood $ 27.03 billions in the last fiscal year. The country recorded upon average export earnings of $ 22.61 billions in the last four fiscal years.

Imports

The overall import witnessed tallying considering forgive import trend of industrial raw materials and machineries.

The import expenditure in the first eight months of the current fiscal year stood $ 26.11 billions, which is 16.42% more than that of the associated era of the last fiscal year.

Average import expenditure in the last four years was $ 30.98 billions even if the amount stood $ 33.97 billions in the last fiscal year. The import expenditure stood at $ 22.51 billions in fiscal 2008-2009.

Forex Reserve 

The countrys foreign currency remoteness exceeded $ 20-billion mark upon 14 April and it stood at $ 20.34 billions upon 24 April subsequent to an increased flow of remittance and export earnings.

The forex detachment witnessed a 170% accrual in the last five years, according to Bangladesh Bank data.

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