Govt projects 7.05 percent GDP growth in 2015-16, expects per capita income to rise to $1,466

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Dhaka, April 5: The government expected that Bangladesh’s GDP (gross domestic product) will grow to 7.05 percent in 2015-16.

The information was revealed at an Executive Committee of the National Economic Council (ECNEC) meeting held at NEC Conference Center at Sher-e-Banglanagar in the city on Tuesday noon.

Prime Minister Sheikh Hasina chaired the meeting. Finance Minister AMA Muhith was also present at the meeting.

The government expects the per capita income to rise to $1,466 from $1,316 in 2014-15 fiscal, Planning Minister AHM Mustafa Kamal told reporters the ECNEC meeting.

The planning ministry’s projections are based on data for the fiscal’s first three quarters (July 2015 to March 2016).

In the budget for the 2015-16 fiscal, the government said it expected the GDP to grow at over 7 percent.

Global lenders ADB and World Bank, however, say the GDP will be around 6.7 percent.

Last year, Bangladesh graduated into the lower middle-income status by achieving a per capita income of 1,084 in 2014. The government aims to become a middle income country by 2021.