Light Engineering Driving Investment GDP Growth

The IMF cut Bangladesh's growth forecast to 4.5% for the current fiscal year, down from 6.6% in April, citing persistent inflation. It projects inflation to rise to 10.7% in FY25. Growth data for last year remains provisional at 5.82%, with the IMF expecting a dip to 5.4% for FY24.

Fitch Ratings has lowered Bangladesh's economic growth forecast to 4.5% for FY25 due to near-term policy uncertainty following a political transition in August. The agency previously projected 5.3% growth but now expects a recovery to 5.7% in FY26.

Standard Chartered Bangladesh has partnered with TK Group of Industries to provide trade solutions, including liquidity support and import financing. The agreement was signed by Luthful Arefin Khan, country head of transaction banking at Standard Chartered, and Tariq Ahmed, senior director of TK Group, at TK Group's Chattogram office.

The World Bank's South Asia Development Update (October 2024) forecasts 6.4% GDP growth for South Asia, making it the fastest-growing region globally. However, Bangladesh's growth is downgraded to 4%, its lowest in nearly 30 years, due to political instability, inflation, weak private investment, and banking issues. Discrepancies in Bangladesh's reported growth figures raise concerns.

According to a recent International Monetary Fund (IMF) report, Bangladesh ranks 35th among the world's strongest economies, with an annual growth rate of 5.7% and a total GDP of $455 billion. The per capita income stands at $2,646.

Bangladesh's economy is projected to achieve a 7.1% growth rate in FY 2025-26, driven by robust exports and remittances, according to an HSBC Global Research report. Despite global economic challenges, both sectors are showing positive signs, with garment exports benefiting from rising international demand.