The Bangladesh Bureau of Statistics (BBS) estimates that the country's economy will grow by 7.24 percent in the outgoing fiscal year. The World Bank, however, in the updated report, 'Global Economic Prospects', says the country's growth in this fiscal year will be 6.8 percent. The World Bank report said sharp decline in remittance inflows in 2016 would dampen consumption and investment in Bangladesh. Growth in Bangladesh is forecast to remain robust, averaging 6.6 percent during FY2018-FY2020. "This reflects improving remittances as GCC economies recover, as well as rising business confidence and investment," the global lender in the report said.

Source: bd News24 June 05, 2017 19:51 UTC