Bangladesh

7.1% growth rate for Bangladesh

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Bangladesh’s (GDP) grew an impressive 7.1 percent for the 2015-16 fiscal year riding on its industries, Planning Minister AHM Mustafa Kamal announced today.

 

Through the fiscal year, the per capita income rose to $1,465, referring to the finalized statistics of the Bangladesh Bureau of Statistics.

Growth in the agriculture sector was registered at 2.79 percent, industry at an impressive 11.09 percent, and the services sector at 6.25 percent.

Bangladesh government strives for the growth of 7.5 percent in the 2016-17 fiscal. It was the policy in the budget set out for the fiscal by Finance Minister AMA Muhith.

This would mean Bangladesh is one of the fastest growing countries in the world.

To further improve the country’s economy, the Executive Committee of the National Economic Council (Ecnec) on Tuesday adopted the 3rd revision of the ‘One House One Farm’ scheme boosting its value by ৳6,813.27 crore, intending to decrease the country’s poverty rate to 10 percent within the year 2020.

The consent came from the 10th Ecnec meeting of the current fiscal year which was held at the Prime Minister’s Office with Prime Minister Sheikh Hasina in the chair.

After the meeting at the NEC-2 in the city, Planning Minister AHM Mustafa Kamal announced a total of 10 projects were passed today with an approximated cost of ৳9,443.64 crore and the complete fund will be met from the national exchequer.

The Rural Development and Cooperatives Division under the Ministry of LGRD will complete the 3rd Revision of the ‘One House One Farm’ plan by June 2020 with an approximated cost of ৳8010.27 crore.

The project will be executed at 40950 wards under 4550 unions in 490 upazilas of 64 districts in the country.

($1 =৳78.26) (1 crore = 10 million)

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