Dhaka, December 25 :

Bangladesh’s central bank today revised up its forecast for economic growth this fiscal year to as much as 7.1 per cent as manufacturing and services boomed despite frequent nationwide strikes.

The economy of the impoverished delta nation of 140 million people for the year ending on June 30 is expected to expand ‘in the range between 6.6 per cent and 7.1 per cent,” the Bangladesh Bank, the central bank, said in its mid-year monetary policy review.

The new forecast topped a July estimate of 6.5 to 6.8 per cent that came ahead of almost daily strikes from September to December by opposition parties calling for electoral reform. The protests ended last week and the opposition have pledged to participate in national elections slated for January.

Last fiscal year, the economy grew a record 6.71 per cent. The central bank said the upward revision came as the mainstay of the economy, textiles, showed strong export growth and Bangladeshi workers abroad sent home more of their earnings.

Bangladesh’s textile exports rose more than 30 per cent in the first three months of this fiscal year, compared to the same period a year ago, the central bank said.