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Saturday, September 30, 2023

IMF keeps Bangladesh’s growth projection unchanged at 5.5 pct


Bangladesh’s economic growth is expected to reach 5.5 percent in this fiscal year ending June 2023, according to the International Monetary Fund (IMF).

The global economic outlook report by the IMF released on Tuesday has kept its projection for Bangladesh’s gross domestic product (GDP) growth unchanged at 5.5 percent for the current fiscal year from July 2022 to June 2023.

Earlier in January this year, the IMF set Bangladesh’s growth forecast at 5.5 percent.

The IMF’s projection is slightly higher than those by the World Bank and the Asian Development Bank (ADB), which were 5.2 percent and 5.3 percent, respectively, for the economic growth in the South Asian country.

In the latest edition of its World Economic Outlook report, the IMF said Bangladesh’s GDP will grow at 6.5 percent in the next fiscal year.

Considering the global economic turmoil, high inflation and energy shortage, the Bangladeshi government in December last year revised down its GDP growth estimation to 6.5 percent for the current fiscal year.

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