Bangladesh GDP will fall - World Bank.Dhaka: AaAfter years of steady growth of over 6 per cent, Bangladesh's GDP GDP (guanosine diphosphate): see guanine. growth might come down to 4.8 per cent despite the government projection of 6.5 in the current fiscal, the World Bank has said. The World Bank fears that the country's main export-earning readymade garments sector and remittance inflow are likely to suffer due to the global financial crisis. "The impact of the crisis will be much clearer after the next three months," it warned, and asked Bangla-desh to outline contingency measures such as providing government assistance. The warning came at a press briefing on the global financial crisis and its likely impact on Bangladesh at its Dhaka office on Wednesday. "We don't know Don't know (DK, DKed) "Don't know the trade." A Street expression used whenever one party lacks knowledge of a trade or receives conflicting instructions from the other party. what will happen in the Christmas season," the bank's chief economist The Chief Economist is a single position job class having primary responsibility for the development, coordination, and production of economic and financial analysis. It is distinguished from the other economist positions by the broader scope of responsibility encompassing the Vinaya Swaroop said in the key-note presentation at the briefing, also joined by its country director, Xian Zhu. "Three months from now, the picture may look very different. "Bangladesh has to remain watchful, particularly the government, civil society and the media." Finance adviser of the interim government, A.B. Mirza Azizul Islam, later however rejected the World Bank projection on GDP, saying, "I don't know how they made the estimate. However, I do not agree with them in any way." "Until now the indicators - export, remittance, inflation, credit growth - all are positive," he said. "Therefore, there is no probability of GDP growth being as low as 4.8 per cent. "Even recently, the IMF IMF See: International Monetary Fund IMF See International Monetary Fund (IMF). projected GDP growth to be 5.5 per cent." Integration Several experts and fin-ancial analysts, including Bangladesh Bank Bangladesh Bank is the Central bank of Bangladesh. History After the liberation war, and the eventual independence of Bangladesh, the Government of Bangladesh reorganized the Dhaka branch of the State Bank of Pakistan as the central bank of the country, and named it , earlier said Bangladesh was likely to evade the impact of the global recession as the South Asian nation's economy was not heavily integrated with the major world economies. Businesses, however, rejected the idea, saying heavily import-dependent and export-oriented, Bangladesh's economy was likely to suffer a setback. "Bangladesh did not have any impact from the first round of the global financial crisis because of lack of integration but it is integrated with the world economy in exports and remittance," Swaroop said. Al Nisr Publishing Al Nisr Publishing is a company based in Dubai, UAE. The company is a part of Al Tayer Group. It was established in 1985 by Obaid Humaid Al Tayer, Abdullah Al Rostamani and Juma Al Majid. It employs 1,050 people and has branches in Manilla, Bahrain, Abu Dhabi and Sharjah. LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control 2007. All rights reserved. Provided by Syndigate.info an Albawaba.com company |
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