IMF trims GDP growth for Bangladesh to 6.5%

The International Monetary Fund has trimmed the economic expansion forecast for Bangladesh to 6.5 per cent for 2021-22 fiscal year.

The forecast was unveiled through IMF’s latest World Economic Outlook, titled "Recovery During a Pandemic - Health Concerns, Supply Disruptions, and Price Pressures," released on Tuesday.

In April, the global financial institution set 7.5 per cent gross domestic product growth for the South Asian country’s economy in the current fiscal year.

For FY22, the government set 7.2 per cent GDP growth, while in FY21 it estimated 5.47 per cent for the FY20.

Last week, the World Bank projected 6.4 per cent growth for Bangladesh in FY22.

In September, the Asian Development Bank trimmed the forecast of economic growth for Bangladesh to 6.8 per cent for FY22, which was projected at 7.2 per cent in its April outlook.