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IMF predicts 6.5pc GDP growth for BD in FY'22

FE REPORT | October 14, 2021 00:00:00

After the World Bank (WB), the International Monetary Fund (IMF) has also come up with a higher growth projection for the Bangladesh economy for the current fiscal year (FY).

In its latest World Economic Outlook (WEO), the Washington-based global financial monitoring agency said Bangladesh's gross domestic product (GDP) might grow at 6.5 per cent in FY 2021-22.

The IMF also forecasted a 7.1 per cent GDP growth for the country in FY'26.

The IMF has made the projection at the week-long IMF-World Bank Annual Meetings being held virtually.

Meanwhile, the WB in its 'South Asia Economic Focus: Fall 2021' report released on October 7 last said that Bangladesh's GDP will grow at 6.4 per cent rate in the current FY2022.

The government is, however, expecting the economy to grow at a rate of 7.2 per cent in the current FY.

In the last FY2021, Bangladesh's economy witnessed a substantial fall as its GDP growth rate lowered at only 4.6 per cent after a stirring more than 7.0 per cent growth momentum over the past few years.

The IMF at its latest WEO said Bangladesh's inflation could be higher at 5.8 per cent in FY'22 compared to 5.6 per cent in FY'21.

Among the South Asian nations, the IMF in its report projected that India will grow higher at 8.5 per cent rate, the Maldives at 13.2 per cent, Bhutan at 4.2 per cent, Nepal at 4.4 per cent and Sri Lanka at 3.3 per cent rate.

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