Bangladesh: Quarterly Economic Update

June 2008

Asian Development Bank

Highlights

• Gross domestic product (GDP) growth is estimated at 6.2% for FY2008.
• Agriculture and service sectors performed well in the second half of the fiscal year.
• Strong revenue performance was aided by reformoriented interventions.
• Accommodative monetary policy could fuel inflation, if bank credit is not channeled to the economy’s productive sectors.
• Pickup in exports, surge in workers’ remittances, and higher external assistance strengthened the balance of payments.
• Higher international prices and the shortfall in domestic production resulted in higher food-grain prices and fueled inflation.

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Bangladesh Economy in FY2007-08: An Interim Review of Macroeconomic Performance

June 2008

Centre for Policy Dialogue

“Despite the challenging scenario, political turmoil and disruption in the economy in the early months of FY2007 (particularly in November-December, 2006) and the uncertainties afflicting the economy during the period following the takeover by the current CTG in January 2007, FY2007 saw a number of positive developments. These included moderately high growth of manufacturing industries (10.01 per cent), robust performance of the export sector (15.69 per cent growth), revitalized capital market (121 per cent growth in DSE market-capitalisation) and high growth of remittance flow (24.5 per cent).”