World Bank forecasts 7 percent growth
Posted: Thu Jul 10, 2025 5:13 am
The World Bank has forecast Bangladesh's gross domestic product (GDP) growth to be seven percent in the 2018-2019 fiscal year. The World Bank's forecast is slightly higher than the growth in the previous fiscal year.
The World Bank's Development Outlook Report on Bangladesh was released at the Dhaka office of the World Bank in Agargaon, Dhaka. It said that the country's GDP growth will be 7 percent in the current fiscal year (2018-2019).
World Bank Chief Economist Dr. Zahid and World Bank Country Director in Bangladesh Chimiao Fan were present at the time.
The Asian Development Bank (ADB) has forecast a GDP growth of 7.5 percent in the current fiscal year. And according to data from the Bangladesh Bureau of Statistics (BBS), the country's GDP growth rate in the outgoing fiscal year (2017-18) was a record 7.86 percent.
World Bank Country Director Chimiao Fan said, "GDP growth of 7.1, 7.2, 7.6 is not a debate, these are useless. We need to see where this GDP group has an impact. Is unemployment being eliminated, is poverty being eliminated? Is sustainable development taking place? Is GDP growth having a positive impact on investment?"
He said, "The amount of defaulted loans in the country is increasing. It must be reduced. If defaulted loans increase, sustainable development will not happen."
World Bank Country Director Chimiao Fan said, "Bangladesh is developing rapidly. Reform steps must be taken to sustain development. We must ensure that growth in exports and remittances does not decline."
In response to a question, Chimiao Fan said, "We must ensure that c level contact list the business environment does not deteriorate during the election. No one will do business in an uncertain environment. There must be assurance that the investment environment is there."
The World Bank report on non-performing loans says that the capital deficit of banks will increase due to this loan rescheduling. This will increase pressure on the budget. For this, reforms will have to be brought in the financial sector. We have to pay attention to non-performing loans. At the moment, the amount of non-performing loans has increased to 10.4 percent.
World Bank Chief Economist Dr. Zahid said, "We have made progress in power generation. But we need to see how the distribution system is, we need to improve it."
World Bank Chief Economist Dr. Zahid said that the government should ensure that its money is used properly in various mega projects. And the projects should be considered and the kind of economic benefits that will come from these projects in the future should be determined.
Zahid said, "For sustainable development, human resources must be improved. Skills in IT must be increased. Bank interest rates must be market-based. Revenue money must be spent qualitatively. Exports must be diversified. Efficiency in power generation must be increased."
PRI Executive Director Ahsan H. Mansur said, "The nine-six game of banks should be eliminated. It is not right to say that they will give loans in single digits but in practice that will not happen."
Former advisor to the caretaker government, Dr. Hossain Zillur Rahman, was also present at the time.
The World Bank's Development Outlook Report on Bangladesh was released at the Dhaka office of the World Bank in Agargaon, Dhaka. It said that the country's GDP growth will be 7 percent in the current fiscal year (2018-2019).
World Bank Chief Economist Dr. Zahid and World Bank Country Director in Bangladesh Chimiao Fan were present at the time.
The Asian Development Bank (ADB) has forecast a GDP growth of 7.5 percent in the current fiscal year. And according to data from the Bangladesh Bureau of Statistics (BBS), the country's GDP growth rate in the outgoing fiscal year (2017-18) was a record 7.86 percent.
World Bank Country Director Chimiao Fan said, "GDP growth of 7.1, 7.2, 7.6 is not a debate, these are useless. We need to see where this GDP group has an impact. Is unemployment being eliminated, is poverty being eliminated? Is sustainable development taking place? Is GDP growth having a positive impact on investment?"
He said, "The amount of defaulted loans in the country is increasing. It must be reduced. If defaulted loans increase, sustainable development will not happen."
World Bank Country Director Chimiao Fan said, "Bangladesh is developing rapidly. Reform steps must be taken to sustain development. We must ensure that growth in exports and remittances does not decline."
In response to a question, Chimiao Fan said, "We must ensure that c level contact list the business environment does not deteriorate during the election. No one will do business in an uncertain environment. There must be assurance that the investment environment is there."
The World Bank report on non-performing loans says that the capital deficit of banks will increase due to this loan rescheduling. This will increase pressure on the budget. For this, reforms will have to be brought in the financial sector. We have to pay attention to non-performing loans. At the moment, the amount of non-performing loans has increased to 10.4 percent.
World Bank Chief Economist Dr. Zahid said, "We have made progress in power generation. But we need to see how the distribution system is, we need to improve it."
World Bank Chief Economist Dr. Zahid said that the government should ensure that its money is used properly in various mega projects. And the projects should be considered and the kind of economic benefits that will come from these projects in the future should be determined.
Zahid said, "For sustainable development, human resources must be improved. Skills in IT must be increased. Bank interest rates must be market-based. Revenue money must be spent qualitatively. Exports must be diversified. Efficiency in power generation must be increased."
PRI Executive Director Ahsan H. Mansur said, "The nine-six game of banks should be eliminated. It is not right to say that they will give loans in single digits but in practice that will not happen."
Former advisor to the caretaker government, Dr. Hossain Zillur Rahman, was also present at the time.