In line with the predictions made by the World Bank and the Asian Development Bank, now the International Monetary Fund (IMF) too has lowered the economic growth forecast for Bangladesh.
According to the IMF, Bangladesh is expected to see 4.5 percent economic growth in the current fiscal year, down from its April projection of 6.6 percent.
This marks the lowest growth estimate in nearly 20 years, excluding the pandemic-affected fiscal 2019-20.
In its latest edition of the World Economic Outlook released today (22 October), the multilateral agency said the global battle against inflation has largely been won, even though price pressures persist in some countries.
Meanwhile, in Bangladesh, inflation is likely to remain elevated, reaching 10.7% in FY25, up from 9.7% a year ago.
Earlier this month, the World Bank downgraded its outlook for Bangladesh, predicting economic growth of just 4 percent for the fiscal 2024-25, down from an April forecast of 5.7 percent.
Last month, the Asian Development Bank (ADB) also trimmed its growth outlook for Bangladesh, forecasting the economy to expand by 5.1 percent in the current fiscal 2024-25, down from its April projection of 6.6 percent.
