GDP growth crosses 7% for the first time
Online Desk
05 Apr 2016 07:19 AM
Photo- Focus Bangla
The country's GDP (gross domestic product) growth registered a record rise, crossing 7.0 percent mark for the first time, reports the BSS.
The GDP grew at 7.05 percent so far in current 2015-16 financial year (FY16), Planning Minister AHM Mustafa Kamal said on Tuesday as he was
briefing journalists after the meeting of the Executive Committee of the National Economic Council (ECNEC) on the recent economic development.
Prime Minister Sheikh Hasina presided over the meeting, held at NEC at the capital's Sher-e-Bangla Nagar. Ministers, secretaries and high officials attended it.
The GDP growth is higher than the targeted 7.0 percent for the current FY16, ending on June 30, 2016.
The per capita income (GNI) also marked significant rise on the strong progress in the economic front, with surging to $1466, the minister said.
The per capita income stood at $1,316 at the end of the past 2014-15 fiscal year (FY15), prompting the World Bank (WB) up Bangladesh status to a lower-middle income country.
The record growth of GDP and increase in the per-capita income has largely been attributed to the phenomenal growth in agricultural sector and steady rise in export earnings.
Bangladesh's economy already ranked the 58th position for its GDP size was placed in 36th position for its Purchasing Power Parity (PPP), which amounted to $3,190.
