The International Monetary Fund (IMF) on Tuesday once again revised down the growth forecast for Bangladesh's economy to 5.7 per cent for the current fiscal year of 2023-24.
This is the second time the IMF lowered the economic growth forecast for Bangladesh.
In October last year, the multilateral lender projected a 6.0 per cent growth rate for Bangladesh, revising down its previous projection of 6.5 per cent for the same year.
The higher inflation and domestic and external shocks have been taken into consideration for the reversal.
The IMF projected the inflation rate at 9.3 in Bangladesh in the current fiscal year.
With inflation easing globally to some extent, the IMF on Tuesday projected a slow but steady global growth for this year.
Unveiling the World Economic Outlook, the IMF raised the global growth projection to 3.2 per cent from its January prediction of 3.1 per cent.
The strong US economic performance has been taken into consideration in this case.
"We find that the global economy remains quiet resilient, with growth holding steady and inflation declining," IMF chief economist Pierre-Olivier Gourinchas told newsmen at a press briefing.
He, at the same time, warned that many challenges still lay ahead.
The IMF said inflation was falling down worldwide.
It said compared with an annual average of 6.8 per cent in 2023 the global inflation might fall to 5.9 per cent in 2024 and 4.5 per cent in 2025.
The IMF economist, however, feared energy price hike and shipping costs, due to geo-political developments especially the conflict between Iran and Israel.
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