January 10, 2018: global economy growth, ADP implementation, 13 ECNEC projects and garment accessories fair

Every day, CPD RMG Study team reveals what’s on our economic and apparel radar and curates a selection of the best reports, opinion, and analysis you may have missed.

World Bank predicts 3.1pc global economy growth in 2018

The World Bank in its upgraded global growth forecast predicted 3.1 percent global economy growth in 2018. It updated the forecast by 0.3 percentage point from the projection it made in June 2017. It is also forecasting solid growth of 3 percent in 2019 and 2.9 percent in 2020, after similar 3 percent expansion in 2017. The U.S. economy will grow 2.5 percent this year receiving boost from the $1.5 trillion tax cut package Congress approved last month.

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27pc ADP implemented during July-December

The government has implemented 27 per cent of the Annual Development Programme (ADP) during the first half (July-December) of the current fiscal. The government ministries and agencies spent Tk 443.31 billion which is equivalent to the implementation rate that was similar in the same period of the last financial year. The government has undertaken a Tk 1.64 trillion ADP for the current financial year to implement more than 1300 development projects during July 2017 to June 2018 period.

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ECNEC approves 13 new projects worth Tk 124.58 billion

The Executive Committee of the National Economic Council (ECNEC) on Tuesday approved 13 projects involving an estimated cost of Taka 12,415.79 crore(124.58 billion). The projects include a scheme to ensure infrastructural development of some 3,250 private secondary schools across the country with Taka 5,237.38 crore. Of the total project cost, Taka 11,822.82 crore will come from the state exchequer while the rest of Taka 592.97 crore from project assistance.

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Four-day fair on garment accessories to begin this month

A four-day fair related to garment accessories and packaging products, known as ‘GAPEXPO’ will begin on January 24 at the city’s International Convention City Bashundhara (ICCB). Organized by the Bangladesh Garments Accessories and Packaging Manufacturers and Exporters Association (BGAPMEA), the fair is expected to create greater interactions among local and international businesses at one place. The expo will honour the apparel accessories makers by giving trophies based on their contribution to exports trade.

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Every day, CPD RMG Study team reveals what’s on our economic and apparel radar and ...