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IMF projects 7.1pc growth for B’desh

Forecasts higher inflation rate


FE Report | October 10, 2018 00:00:00


The International Monetary Fund (IMF) has forecasted that Bangladesh's GDP (gross domestic product) growth is likely to hit 7.1 per cent in fiscal 2019-end.

Bangladesh's economic growth is expected to reach 7.0 per cent in 2023, the IMF said in its World Economic Outlook 2018 (WEO), which was released on Tuesday in Indonesia's Bali.

The IMF, in its global report, also projected that Bangladesh's annual consumer prices would be 5.8 per cent by the end of 2018 and 6.1 per cent by 2019.

The IMF's GDP projections for Bangladesh were slightly higher than the World Bank and lower than the projection made by the Asian Development Bank (ADB).

The WB and the ADB in their latest projections forecasted a 7.0 per cent and 7.5 per cent GDP growth for Bangladesh respectively for fiscal year 2018-19.

However, the IMF, in its report, projected global growth to be 3.7 per cent for 2018-19, or 0.2 percentage point lower for both years than forecasted in April.

"Global financial conditions are expected to tighten as monetary policy normalises; the trade measures implemented since April will weigh on activity in 2019 and beyond," the IMF said.

It also noted the downgrade reflects a confluence of factors, including the introduction of import tariffs between the United States and China, weaker performances by euro zone countries, Japan and Britain.

Across emerging markets and developing economies, activity continued to improve gradually in energy exporters but softened in some importers, according to the report.

Inflation has generally increased in emerging market and developing economies, in part reflecting the pass-through of currency depreciations.

According to the IMF, growth for China and a number of Asian economies have also been revised down following the recently announced trade measures.

Some 45 emerging market and developing economies, accounting for 10 per cent of world GDP in purchasing-power-parity terms, are projected to grow by less than advanced economies in per capita terms over 2018-23, and hence to fall further behind in living standards, according to the IMF.

The balance of risks to the global growth forecast is tilted to the downside, both in the short term and beyond, it said.

smjahangirfe@gmail.com


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UNITEDINS 21.6 23.7 23.1 23.7 9.7222%
ADVENT 34.2 36.7 34.5 35.9 4.9708%
PRIMETEX 34.4 36.5 34.9 35.9 4.3605%
PENINSULA 26.2 27.7 26.1 27.1 3.4351%
BEXIMCO 24.1 25.2 24.1 24.9 3.3195%
YPL 12.2 12.7 12.2 12.6 3.2787%
UNITEDFIN 16.6 17.3 16.9 17.1 3.012%
LEGACYFOOT 203.7 221.2 206.1 208.6 2.4055%
ANLIMAYARN 33.6 34.8 32.8 34.4 2.381%
BSC 35.8 36.8 35.0 36.5 1.9553%
COMPANY YCP HIGH LOW CLOSE %CHG
ANLIMAYARN 34.8 34.8 32.8 32.8 6.0976%
ADVENT 36.2 36.7 34.5 34.5 4.9275%
BEXIMCO 25.1 25.2 24.1 24.1 4.1494%
YPL 12.7 12.7 12.2 12.2 4.0984%
EASTLAND 19.3 19.3 18.3 18.6 3.7634%
POPULARLIF 110.1 110.1 106.2 106.7 3.1865%
PRIMETEX 36.0 36.5 34.9 34.9 3.1519%
SEMLLECMF 6.8 6.8 6.6 6.6 3.0303%
PHOENIXFIN 34.2 34.2 33.1 33.2 3.012%
MONNOCERA 349.9 358.5 340.1 340.1 2.8815%
COMPANY YCP HIGH LOW CLOSE %CHG
RAHIMTEXT 469.0 495.0 399.0 404.0 -13.8593%
IBP 44.3 47.5 38.2 38.8 -12.4153%
DOREENPWR 98.3 95.0 85.8 86.2 -12.3093%
IFADAUTOS 124.3 118.0 109.0 110.2 -11.3435%
IMAMBUTTON 24.0 25.9 21.6 21.7 -9.5833%
SAVAREFR 111.9 110.9 100.8 101.3 -9.4727%
ISNLTD 28.6 29.0 25.8 25.9 -9.4406%
SHYAMPSUG 28.5 28.5 25.7 25.9 -9.1228%
BDAUTOCA 349.1 338.9 300.0 317.6 -9.0232%
SPCERAMICS 14.9 15.5 13.6 13.7 -8.0537%
COMPANY YCP HIGH LOW CLOSE %CHG
IMAMBUTTON 21.6 25.9 21.6 25.9 -16.6023%
RAHIMTEXT 415.0 495.0 399.0 490.0 -15.3061%
IBP 39.1 47.5 38.2 45.1 -13.3038%
ISNLTD 25.8 29.0 25.8 28.9 -10.7266%
DOREENPWR 86.1 95.0 85.8 95.0 -9.3684%
KPPL 22.4 25.2 22.4 24.5 -8.5714%
KPCL 118.0 129.0 117.6 129.0 -8.5271%
SPCERAMICS 13.7 15.5 13.6 14.9 -8.0537%
MEGHNACEM 106.2 116.0 106.0 115.4 -7.9723%
JUTESPINN 89.5 97.2 89.5 97.2 -7.9218%