Bangladesh’s gross domestic product is expected to grow by 6.6 per cent in the running FY2022-23, Asian Development Bank (ADB) forecasted.
The projection was revealed in the latest ADB report, titled “Asian Development Outlook (ADO) 2022 update", released on Wednesday morning.
Inflation is projected to rise from 6.2 per cent in FY2022 to 6.7% in FY2023. While the current account deficit is likely to narrow from 4.1 per cent of GDP in FY2022 to 3.6 per cent of GDP in FY2023, the report said.
“I don’t see any Forex crisis in Bangladesh because of the country's ability to make basic clothing, the demand for which will remain stable on the global market,” said ADB Country Director Edimon Ginting.
The Bangladesh government has set a target of 7.5 per cent of GDP growth and 5.5% inflation in the current fiscal year.
Besides, 6.94 per cent GDP growth has been achieved in FY2021-2022 despite the enduring fallout of the pandemic.
