Bangladesh’s growth likely 5pc this year: IMF
Published: 12:08 PM, 7 April 2021 Updated: 01:36 PM, 7 April 2021
After the World Bank, now the International Monetary Fund (IMF) has forecast that Bangladesh’s economic growth could reach 5 percent this year.
A report titled ‘World Economic Outlook’ released from the IMF headquarters in Washington on Tuesday said “Bangladesh’s GDP growth could reach five percent in 2021.”
Earlier in October last year, the forecast informed the growth of 4.4 percent this year. According to the new report, Bangladesh’s GDP growth in 2022 could be 7.5 percent.
The report says the global economy is going to turn around, resulting in average growth of 6 percent, which is 0.8 percentage points higher than the previous forecast.
This year, India’s growth is expected to be 12.5 percent, Maldives 18.9 percent, Sri Lanka 4 percent, Nepal 2.9 percent and Pakistan 1.5 percent, the IMF said.
The IMF’s forecast is given year basis Earlier, a World Bank report on March 31 estimated that Bangladesh’s growth could be 3.6 percent in the 2020-21 fiscal year – which was 1.7 percent in their October estimate and 2 percent in their January estimate.
The World Bank said in its report that Bangladesh’s growth could increase from 2.6 to 5.6 percent this fiscal year, depending on the “success of the vaccine” and how far the global economy will turn.