The government believes economic growth will hit 7.24 percent, the fastest in the history of Bangladesh, surpassing the expectations of the budget.
The estimates by Bangladesh Bureau of Statistics or BBS are based on information from the first ten months of 2016-17 (July-April).
BBS has estimated that Bangladesh’s per capita income will rise to $1,602 by the end of the current fiscal year, up from $1,465 in FY16.
The numbers were revealed by Planning Minister AHM Mustafa Kamal at the National Economic Council (NEC) meeting led by Prime Minister Sheikh Hasina on Sunday.
“This is the result of our combined efforts,” Hasina said. “These achievements have been possible because of the continuity of governance.”
The final BBS calculation for the previous fiscal year found the growth rate to be 7.11 percent and the per capita income at $1,465.
After being stuck in the 6 percent range for nearly a decade, the Bangladesh economy finally surpassed 7 percent economic growth in 2015-16.
The budget formed last June set a growth target of 7.2 percent for FY 2016-17.