Probashbangla24 Desk : Bangladesh may earn a seven per cent growth in the current fiscal year, said a World Bank report.
According to the report titled ‘Bangladesh Development Update: Powering the Economic Efficiency’, the growth is driven by industry and services on the supply side and private consumption and investment on the demand side.
The report also mentioned Bangladesh’s economy one of the fastest growing economies in the developing world.
Zahid Hussain, lead economist of the World Bank, said, “Bangladesh must make sure its economic fundamentals are sound for realizing its goals of achieving upper-middle income status.
“As immediate measures, the country needs policies to contain inflation, correct the exchange rate, and remove interest rate distortions,” said the economist, also the author of the report.
World Bank’s country director in Bangladesh Qimiao Fan said, “Bangladesh needs to promote entrepreneurship, innovation and adaptability to enable its workforce to thrive in an environment of rapidly changing technology and global demands for maintaining the current growth.”
The government has set a goal to earn a 7.8 per cent growth in the current fiscal year.