Bangladesh`s GDP growth to slow down to 5.5-6.0 per cent in fy09: ADB

Dhaka (ANTARA News/Asia Pulse) - The Asian Development Bank (ADB) has predicted that Bangladesh's economic growth is likely to slow down to between 5.5 and 6 per cent during the current fiscal year from the 6.5 per cent target set before the onset of the global financial crisis. 

With the financial crisis in the advanced economies unfolding and recession appearing to last longer than anticipated, a growth rate in the range of 5.5-6.0 per cent seems more likely in FY09, said an ADB forecast released Monday. 

Although the country's exports and remittance weakened a little in recent months, the government and Bangladesh Bank were still expecting that the GDP growth would be around 6.0 per cent during the current fiscal year, which is 0.5 percentage point lower than the target.