The global rating agency Fitch Solutions has projected a growth of 6.3 per cent from the previous 5.5 per cent for the current 2021-2022 fiscal year.
The agency sees improvement in private consumption and strong export growth which will accelerate the country’s growth momentum.
But the revised projection is still low from the government’s estimate of 7.2 per cent set for the current budget. Even it is less compared to IMF (International Monetary Fund) and ADB (Asian Development Bank) forecasts but higher than that of the World Bank.
The World Bank in June projected 5.1 per cent growth for Bangladesh in this fiscal year, IMF estimated 7.5 per cent and ADB 6.8 per cent.
“Improved Covid-19 vaccination progress will help to sustain the economic recovery and accordingly, consumer spending.”
Source: The Business Standard