ADB: Bangladesh growth beats forecasts

[EastBengalPro]

Asian Development Bank says agriculture growth in Bangladesh in FY2017 was higher than anticipated. This picture of a worker drying rice in a 'chatal' in Dhaka's Dhamrai was taken in 2014

According to the report, agriculture growth in Bangladesh in FY2017 was higher than anticipated. Services growth also outperformed expectations, supported by agriculture growth and solid performances in wholesale and retail trade, real estate, hotels and restaurants, and transport.

Preliminary government economic growth estimates in Bangladesh for the last fiscal beat the forecasts of Asian Development Outlook (ADO) 2017, according to an Asian Development Bank (ADB) report.

In the ADO 2017, published in April this year, ADB said Bangladesh economy will grow to 6.9% in the fiscal 2016-17 but Bangladesh’s gross domestic product (GDP) growth reached 7.24% in FY2017, beating all the previous records.

In a supplement to its ADO 2017 report released on Thursday, ADB upgraded its growth outlook in the region from 5.7% to 5.9% in 2017 and from 5.7% to 5.8% for 2018. The smaller uptick in the 2018 rate reflects a cautious view on the sustainability of this export push.

According to the report, agriculture growth in Bangladesh in FY2017 was higher than anticipated. Services growth also outperformed expectations, supported by agriculture growth and solid performances in wholesale and retail trade, real estate, hotels and restaurants, and transport.



Inflation forecasts for South Asia are cut to 4.2% from 5.2% in 2017 and to 4.7% from 5.4% in 2018, prompted by lower increases in Bangladesh, Bhutan, India, and Nepal.

Bangladesh is experiencing a steady decline in nonfood inflation, reflecting favorable international prices, it said.

In Pakistan, growth was similarly supported by a revival in agriculture, as well as by continued expansion in construction and steady growth in services.



Strong private consumption remained the largest contributor to growth. Robust growth in industry and services lifted growth prospects for Nepal in FY2017 (ended July 15, 2017), as did accelerated earthquake reconstruction, while an improved prognosis for the important tourism sector is providing a boost to the Maldives.

These improved prospects for Bangladesh, Maldives, Nepal, and Pakistan are balanced by slower growth projected for Bhutan and Sri Lanka.

The construction of hydropower projects has been delayed in Bhutan, undermining economic growth there.

In Sri Lanka, heavy rain caused severe floods in 15 of 25 districts and triggered landslides in some areas in May 2017. Disrupted economic activity and damage to agriculture will slow growth in 2017, but subsequent recovery may boost GDP growth somewhat in 2018.

In India, economic growth slowed to 7.1% in FY2016 (ended March 31, 2017) from 8% in FY2015. The slowdown can be partly attributed to the demonetisation and replacement of high-denomination banknotes in November 2016, which affected economic activity in several cash-dependent sectors.

http://www.dhakatribune.com/business/economy/2017/07/20/adb-bangladesh-growth-beat-forecast/

ADB Report:

 

[UKBengali]

Brilliant - ADB has confirmed 7.24 growth for BD for the outgoing fiscal.

 

[EastBengalPro]

Brilliant - ADB has confirmed 7.24 growth for BD for the outgoing fiscal.

Indeed it is! Haters gonna hate but #Bangladeshrise

 

[BDforever]

Brilliant - ADB has confirmed 7.24 growth for BD for the outgoing fiscal.

and govt. was anticipating it previously, is not it interesting ? llol

 

[Flynn Swagmire]

u la la u la la...

 

[Turingsage]

Full report
ADB Raises 2017 Growth Forecast for Developing Asia to 5.9%
By
Michael J Munoz
2017 M07 20 02:30 GMT+1
The Asian Development Bank raises Developing Asia’s 2017 growth forecast to 5.9% from 5.7% in its latest Outlook supplement. Inflation forecast cut to 2.6% from 3%.

• China 2017 GDP forecast raised to 6.7% from 6.5%; 2018 at 6.4%
  • Inflation cut to 2% from 2.4%; 2018 at 2.6%
• India 2017 GDP forecast maintained at 7.4%; 2018 at 7.6%
  • Inflation cut to 4% from 5.2%; 2018 at 4.6%

2017 2017 2018 2018 2016
REVISED PREVIOUS REVISED PREVIOUS ACTUAL
-------------- Annual GDP Growth --------------
Developing Asia 5.9% 5.7% 5.8% 5.7% 5.8%
Central Asia 3.2% 3.1% 3.8% 3.5% 2.1%
Kazakhstan 2.6% 2.4% 2.9% 2.2% 1.0%
East Asia 6.0% 5.8% 5.7% 5.6% 6.0%
China 6.7% 6.5% 6.4% 6.2% 6.7%
Hong Kong, China 2.0% 2.0% 2.1% 2.1% 1.9%
Korea, Rep. of 2.7% 2.5% 2.7% 2.7% 2.8%
Taipei, China 2.0% 1.8% 2.2% 2.2% 1.5%
South Asia 7.0% 7.0% 7.2% 7.2% 6.7%
India 7.4% 7.4% 7.6% 7.6% 7.1%
Southeast Asia 4.8% 4.8% 5.0% 5.0% 4.7%
Indonesia 5.1% 5.1% 5.3% 5.3% 5.0%
Malaysia 4.7% 4.4% 4.6% 4.6% 4.2%
Philippines 6.5% 6.4% 6.7% 6.6% 6.9%
Singapore 2.4% 2.2% 2.5% 2.3% 2.0%
Thailand 3.5% 3.5% 3.6% 3.6% 3.2%
Vietnam 6.5% 6.5% 6.7% 6.7% 6.2%
The Pacific 2.9% 2.9% 3.3% 3.3% 2.6%
----------- Annual Inflation Growth -----------
Developing Asia 2.6% 3.0% 3.0% 3.2% 2.5%
Central Asia 8.1% 7.8% 7.4% 7.3% 11.0%
Kazakhstan 8.0% 8.0% 7.0% 7.0% 14.6%
East Asia 1.9% 2.3% 2.4% 2.6% 1.9%
China 2.0% 2.4% 2.6% 2.8% 2.0%
Hong Kong, China 2.0% 2.0% 2.1% 2.1% 2.4%
Korea, Rep. of 1.8% 1.7% 1.8% 1.8% 1.0%
Taipei, China 1.1% 1.3% 1.2% 1.2% 1.4%
South Asia 4.2% 5.2% 4.7% 5.4% 4.5%
India 4.0% 5.2% 4.6% 5.4% 4.5%
Southeast Asia 3.3% 3.3% 3.4% 3.5% 2.1%
Indonesia 4.3% 4.3% 4.5% 4.5% 3.5%
Malaysia 4.0% 3.3% 2.7% 2.7% 2.1%
Philippines 3.5% 3.5% 3.7% 3.7% 1.8%
Singapore 1.1% 1.0% 1.5% 1.5% -0.5%
Thailand 1.2% 1.8% 1.6% 2.0% 0.2%
Vietnam 4.0% 4.0% 5.0% 5.0% 2.7%
The Pacific 5.4% 5.2% 5.4% 5.4% 4.6%
Note 1: Developing Asia refers to 45 members of the Asian Development Bank.

Note 2: Central Asia comprises Armenia, Azerbaijan, Georgia, Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan.

Note 3: East Asia comprises the People’s Republic of China; Hong Kong, China; the Republic of Korea; Mongolia; and Taipei, China.

Note 4: South Asia comprises Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan, and Sri Lanka.

Note 5: Southeast Asia comprises Brunei Darussalam, Cambodia, Indonesia, the Lao People’s Democratic Republic, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Viet Nam.

Note 6: The Pacific comprises the Cook Islands, Fiji, Kiribati, the Marshall Islands, the Federated States of Micronesia, Nauru, Papua New Guinea, Palau, Samoa, Solomon Islands, Timor-Leste, Tonga, Tuvalu, and Vanuatu.

Source: Asian Development Outlook 2017 supplement

https://www.bloomberg.com/news/arti...17-growth-forecast-for-developing-asia-to-5-9



Pakistan cannot provide any legitimate figures because they are so busy cooking their figures and no one in the ADB can take them at face value.
You can read the fantasy figures in the many of the PDF posters

 

[bd_4_ever]

BS. I say this is BBS-manipulated data powered by la-Hasina.

 

[Arthur]

Brilliant - ADB has confirmed 7.24 growth for BD for the outgoing fiscal.

This has become the norm. These WB,ADB,IMF will give extremely low growth forecast first, but after the fiscal year ends, will agree with gov. forecast with tail between their legs like a good puppy. So much for trying to put BD in bad light & downplay it's economic & development potential.
@Doyalbaba @Bilal9 @Species bhai.

and govt. was anticipating it previously, is not it interesting ? llol

lol!!

BS. I say this is BBS-manipulated data powered by la-Hasina.

 

[arp2041]

Population Growth Rate......!!!!

 

[UKBengali]

@Nilgiri:

So ADB also is falling for BBS manipulated data then?

 

[damiendehorn]

Population Growth Rate......!!!!

Bangladesh 1.05%
india 1.19%

http://www.indexmundi.com/factbook/compare/bangladesh.india

 

[Nilgiri]

@Nilgiri:

So ADB also is falling for BBS manipulated data then?

They have choice not to? They will report whatever north korea reports too.

With economy there are at least some external markers that can be measured independently and correlated (capital and current account sub components)

With internal development data claims, it rests largely on institutional capacity and credibility, both of which are seriously lacking in BD.

Hence we see Dhaka being rated as one of the most unlivable cities in the world (alongside utter warzones) and having an average traffic speed of 7 km/hr.

 

[TopCat]

They have choice not to? They will report whatever north korea reports too.
.

Now yu know it. You will learn many more things in the future. Stick to PDF.

 

[Nilgiri]

Now yu know it. You will learn many more things in the future. Stick to PDF.

Already learned how corrupt and institutionally weak BD is...way worse than I could have otherwise imagined. In the end it gets largely addressed in PPP calculation whatever your nominal growth is, remember that.

So nothing left to learn now really....was interesting to see only 3% long term sustainable growth projected because of serious lack of non-RMG sectors....and HDI tapering off big time now because education in complete doldrums.

I mean 7km/hr traffic speed in Dhaka? Looks like the Economist was right about liveability, truly about the same as a warzone hellhole.

 

[Mage]

Already learned how corrupt and institutionally weak BD is...way worse than I could have otherwise imagined. In the end it gets largely addressed in PPP calculation whatever your nominal growth is, remember that.

So nothing left to learn now really....was interesting to see only 3% long term sustainable growth projected because of serious lack of non-RMG sectors....and HDI tapering off big time now because education in complete doldrums.

I mean 7km/hr traffic speed in Dhaka? Looks like the Economist was right about liveability, truly about the same as a warzone hellhole.

Mate you're trying too hard. Using the same arguments everywhere....