Bangladesh economy sees 'record high' growth

By Sorwar Alam

ANKARA (AA) - Bangladesh's annual gross domestic product (GDP) has reached a record high growth of 7.2 percent in the 2016-17 fiscal year, according to the country’s statistics bureau on Sunday.

Bangladesh Bureau of Statistics (BBS) data showed per capita income increasing to $1,602 from $1,466 of the previous financial year, according to Bangladeshi media, Daily Star.

The economic development in the South Asian nation reached the historic high through buoyant exports and robust agricultural outputs, the report said.

The GDP growth for the previous fiscal year, which begins in June 2015 and ends 2016, was 7.02 percent.

Meanwhile, the World Bank on Sunday said Bangladesh continued to make progress despite economic turmoil across the world.

“Bangladesh economy remains stable in the face of global uncertainties and continues to reduce poverty,” the bank said in a statement.

“The economy has done well along with declining poverty rates, but Bangladesh can do even better,” it added.

It predicted that Bangladesh’s “growth outlook in the near to medium-term is robust.

“The economy is likely to grow between 6.4 percent and 6.8 percent in 2017 and 2018,” the world bank statement said.