The Bangladesh Bank predicted that Covid-led global supply chain disruption and the continuation of global price hikes will make the inflation wider and may create pressure in the market. The country’s economy is escaping from the Covid-19 fallout with timely implementation of stimulus packages and exclusive monetary policy support.
This observation has been unveiled in the quarterly report on economic and financial developments, the Bangladesh Bank.
The report said real GDP grew by 5.47 per cent in the 2020-21 fiscal year compared to 3.51 per cent growth in 2019-20FY.
The recovery of the growth momentum was largely evident in the industry sector (6.12 per cent) and service sector (5.61 per cent), while the agriculture sector maintained a robust growth of 3.45 per cent in the 2020-21FY, said the central bank.
The economic recovery from the sudden outrage indicates the backdrop of declining Covid infections, extended vaccination programme, growth supportive fiscal and monetary policies and optimistic outlook of exports etc.
On the other hand, some repugnant situations may also create growth on the global front, rising inflation, shortage of inputs and labor, and rising shipping costs, could be the downside risks to that recovery.
Source: The Business Standard