ZCZC
BSS-09
ECONOMY-FY18-PROGRESS
Economy shows strength in outgoing FY18
DHAKA, June 6, 2018 (BSS) – The country’s economy showed strength in the
outgoing 2017-18 financial year (FY18) by attaining record reserve, higher
than targeted GDP growth, lower rate of inflation, higher export earnings,
healthy growth of remittances, revenue earnings and investments.
According to the available data, total tax revenue collection (NBR and non-
NBR) during July-February of FY18 stood higher by 16.2 per cent to Tk 131,224
crore against the collection of Tk 112,960 crore during the corresponding
period of FY17.
NBR tax revenue collection during July-February of FY18 reached Tk 126,355
crore, which is 15.6 percent higher than the collection of Tk 109,266 crore
during the corresponding period of the previous fiscal year.
The country’s export earnings in the first nine months of the current
fiscal year rose by 6.33 percent to $27.452 billion from $25.817 billion in
the corresponding period of the previous fiscal year.
Import payment (C&F) in July-February of FY18 was 26.21 per cent higher
than import payments during the corresponding months of FY17.
Remittance inflows in third quarter (Q3) of FY18 increased by 26.45 per
cent to $3.829 billion compared to $3.028 billion in the corresponding
quarter of the previous fiscal year.
The disbursement of foreign aid in July-February of FY18 increased by 75
per cent year-on-year to $3.42 billion. In July-February of FY18, the net FDI
increased by $10 million to $1.263 billion from $1.253 billion in the
corresponding period of FY17.
The general point to point inflation fell slightly by 0.04 percentage point
to 5.68 per cent from 5.72 per cent in February 2018 as food prices have
fallen.
The implementation rate of the Annual Development Programme (ADP) was
slightly better in the first nine months of the current fiscal year as 57
ministries and divisions managed to spend Tk 719.40 billion or 45.65 per cent
of the total revised allocation of Tk 1,575.94 billion.
According to BB data, Bangladesh received $10.763 billion remittance in the
9-month period between July and March of FY18, increasing by 17.04 per cent
from US$9.196 billion during the same period of FY17.
Per capita income rose to $1752 in the current fiscal year, up $142 from
the last fiscal year’s $1610.
According to the latest survey results, the poverty rate in rural areas was
26.4 percent, while urban poverty was 18.9 percent. The current rate of
extreme poverty is 12.9 percent, compared to 17.6 percent six years ago.
The poverty rate in the 2010 survey was 31.5 percent. In rural areas, the
poverty rate was 35.2 percent and in urban areas 21.3 percent.
Overall poverty came down to 24.3 percent from 31.5 percent and extreme to
12.9 percent from 17.6 percent.
Life expectancy had increased from 65.4 years in 2006 to almost 72 years
now.
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