GDP growth likely to dip to 6pc: ADB forecast

 

The Asian Development Bank predicted on Wednesday that the country’s GDP growth is likely to dip to 6 percent in the current fiscal year.
ADB Principal Country Economist Zahid Hossain said this while presenting the ‘Asian Development Outlook 2012’.
Earlier, the International Monetary Fund forecast that Bangladesh's economic growth may slow down to 5.8 percent in the current fiscal year.
The government set the GDP growth target for the current fiscal year at 7.2 percent.
The outlook also pointed out that the targeted GDP growth may suffer due to risk factors arising from unfavourable weather or political unrest which could affect economic activities in the country.
"Monetary discipline could be undermined if the government increases bank borrowing to finance subsidy expending," the outlook said.
Teresa Kho, ADB country director to Bangladesh, gave a welcome speech during the occasion.