ADB projects Bangladesh's GDP growth at 5.5-6% in fiscal 2008-09

DHAKA, Dec. 6 (Chinese media) -- Asian Development Bank (ADB) has projected the

GDP growth rate in Bangladesh at 5.5-6 percent in current 2008-09 fiscal (from

July 2008 to June 2009) in the wake of global financial downturn.

According to Bangladesh Quarterly Economic Update released by ADB and

received here on Saturday, Bangladesh, with its high dependence on exports and

remittances, may have difficulty attaining its initial growth target of 6.5

percent.

"Growth in the range of 5.5-6 percent would be more reasonable considering

the effects of the financial crisis on external and domestic climate," the

Quarterly Economic Update said.

It said Bangladesh will need to improve the investment climate, upgrade

infrastructure, and accelerate economic reforms to achieve higher economic

growth.