A report released by the Asia Development Bank (ADB) said on Wednesday that an acceleration in consumption and private-public investments propelled Bangladesh economic growth to a 7.9-percent pace in the last 2017-18 fiscal year (July 2017-June 2018), the fastest since 1974.

Bangladesh GDP is expected to grow by 7.5 percent in the current 2018-19 fiscal year with continued strong consumption and public investment, ADB's Country Director for Bangladesh Manmohan Parkash told a press conference which was convened to present the findings on the Asian Development Outlook Update (ADOU).

He said the Bangladeshi economy is in a good shape and growth momentum is likely to continue.

Parkash said Bangladesh economy has recorded over 7 percent GDP growth rate for three consecutive years, reaching close to 8 percent now.

Soon Chan Hong, a senior ADB economist, presented the summary of the economic performance and prospect of the countries in the Asia-Pacific region, and observations on the ADOU 2018 update's Bangladesh country chapter.

According to the bank's ADOU, the developing Asia will continue solid growth at 6 percent in 2018 and 5.8 percent in 2019.