The International Monetary Fund reduced the forecast for Bangladesh to 6.5 per cent from 7.5 per cent for the current fiscal year.
Low-income developing countries has darkened considerably due to worsening coronavirus pandemic dynamics, IMF stated
The Washington-based multilateral lender came up with the projection in its latest World Economic Outlook (WEO) report. The projection is lower than the government’s target of 7.2 per cent for FY22.
The report also projected that Bangladesh’s gross domestic product (GDP) might have expanded by 4.6 per cent in the last fiscal year, down from 5 per cent it previously estimated.
Meanwhile, the government’s provisional GDP growth figure for FY21 is 5.47 per cent. The economic growth is expected to jump to 7.1 per cent in FY26. The estimate is in line with the projection made by the World Bank
The IMF trimmed the projection of the global growth to 5.9 per cent for this year in contrast to its previous estimation of 6 per cent. It, however, kept unchanged the global growth at 4.9 per cent for the next year.
Source: The Daily Star