WB accepts BBS estimate on growth

The World Bank (WB) has accepted Bangladesh Bureau of Statistics (BBS) estimate on the current fiscal year's GDP growth, as the Finance Division and the BBS gave different projections.
The GDP growth projection of 6 percent by the Finance Division was incorporated in the Economic Review 2010 and also in the finance minister's budget speech. However, the BBS estimated it at 5.5 percent.
The WB yesterday said the current fiscal year's GDP growth will be 5.5 percent, which was 5.7 percent last year.
WB acting country director Zahid Hossain said the BBS has the mandate to calculate the GDP growth rate. "We used the BBS estimate because our previous data was taken from it."
He said: "We know the method BBS uses in calculating the GDP growth and where its data comes from. The Finance Division has the right to make the estimate of 6 percent it has made, but it is not completely clear to us.”