Minister shocked over GDP growth forecast by WB, ADB

Planning Minister AHM Mustafa Kamal is shocked over the downsized projection by the development partners (DP) on the country’s economic growth in the current fiscal year.

“I am sorry to World Bank (WB). I can’t accept your forecast on gross domestic product (GDP) growth in the current fiscal,” he said while addressing at a press briefing at NEC conference room at Sher-e-Bangla Nagar in the capital today.

“The downsized economic growth figures of the WB and Asian Development Bank (ADB) make me upset,” he said adding “The Bangladesh Bureau of Statistic (BBS) is efficient and their estimate is correct and there is no manipulation.”

His came up with the comment when the ADB today projected 7 percent economic growth for Bangladesh for the current fiscal year, much below than the government’s provisional estimate of 7.65 percent.

The World Bank on Monday questioned the 7.65 percent economic growth estimate being peddled by the Bangladesh Bureau of Statistics for fiscal 2017-18, raising doubts over claims of robust expansion of the manufacturing sector and domestic demand.

The minister also suggested that the global lender should collect the accurate figure and information from the Bangladesh Bureau of Statistic (BBS) before analysing the economic growth projection as well as discuss with the concerned officials of BBS to match the projection figure with the government.