DHAKA: World Bank (WB) has forecasted 5.6 percent economic growth in current fiscal, down from previously estimated from 6.4 to 6.6 percent, incurring 1 percent loss in Gross Domestic Product (GDP) for political turmoil.

The global money lender, on Sunday, revealed the forecast at the launch of its “Bangladesh Development Update Report” at its Dhaka office.

WB's chief economist Dr Zahid Hossain presented the report that said the country has suffered a financial loss of around $2.2 billion (approximately Tk 171.50 billon) in production due to political turmoil.

The WB also projected that the growth may increase at 6.3 percent by the end of 2015-16 fiscal while 6.7 percents at the end of 2016-17 fiscal.

But political stability, investment and women’s participation in work will be required to attain the estimated growth, the report added.

BDST: 1603 HRS, APR 12, 2015
HB/RS/RR