Sunday, 24 Nov, 2024

Business

BB cuts economic growth 1pc

News Desk |
Update: 2014-01-27 08:26:05
BB cuts economic growth 1pc

DHAKA: Bangladesh Bank (BB) cut country’s economic growth forecast by more than one percent point to around 6.0 percent for the current fiscal year.

The forecast came on Monday from central bank Governor Atiur Rahman.

He opined that this cut is an aftermath of country’s political unrest ahead of national elections that held earlier this month.

Rahman told reporters on the day that development activities had been impaired by country-wide blockades and general strikes before the January 5 national polls.

He added: “Economic activities and normal routines of daily life were disrupted substantially.”

The forecast for the fiscal year that began in July was cut from a projection of 7.2 percent made in the June budget.

The economy grew 6.0 percent in 2012/13.

The country`s $22 billion garment industry, which accounts for about 80 percent of its exports, was disrupted by transportation blockades ahead of the election.

BDST: 1910 HRS, JAN 27, 2014

All rights reserved. Sale, redistribution or reproduction of information/photos/illustrations/video/audio contents on this website in any form without prior permission from banglanews24.com are strictly prohibited and liable to legal action.