WB revises Bangladesh GDP projections upward

The World Bank has projected 3.6 per cent gross domestic product growth for Bangladesh in the current fiscal year ending on June 30, revising its earlier projection of 1.6 per cent.

In its latest report, titled "Global Economic Prospects June 2021", released on Tuesday the global lender said the country is likely to achieve 5.1 per cent GDP growth for the 2021-22 fiscal year.

Earlier, the WB projected 3.4 per cent growth for the upcoming fiscal year.

“In Bangladesh, the recovery is expected to be gradual,” the World Bank repo… as private consumption, the main engine of growth, is supported by normalizing activity, moderate inflation, and rising ready-made garment exports,’’ the report says.

In its proposed budget for FY22, the government set 7.2 per cent GDP growth.