Dhaka, Oct 22 (V7N) – In alignment with the revised predictions of the World Bank and Asian Development Bank, the International Monetary Fund (IMF) has significantly lowered its economic growth forecast for Bangladesh, projecting a 4.5% expansion for the current fiscal year. This is a sharp decline from its previous estimate of 6.6% made in April.

The new projection marks the lowest growth rate for Bangladesh in nearly two decades, excluding the pandemic-impacted fiscal year of 2019-20. In its latest World Economic Outlook, released today, the IMF noted that while the global fight against inflation has largely succeeded, some countries continue to experience persistent price pressures.

For Bangladesh, inflation is expected to remain high, with a forecasted increase to 10.7% in FY25, up from 9.7% in the previous year.

Earlier this month, the World Bank downgraded Bangladesh's growth forecast to 4% for FY24-25, down from an April estimate of 5.7%. Similarly, the Asian Development Bank (ADB) lowered its projection last month, forecasting a 5.1% growth for the same fiscal year, down from an initial 6.6%.

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