In the current year 2022, the growth of the gross domestic product (GDP) of Bangladesh maybe 6.4%. This will be the highest GDP growth in South Asia after India.
The International Monetary Fund’s (IMF) report titled ‘World Economic Outlook’ released on Tuesday (26 April) has given this prediction for Bangladesh’s growth. According to the agency, Bangladesh’s GDP will grow by 6.7% percent in 2023, which could increase to 6.9% in 2027.
However, the IMF forecasts GDP growth for the calendar year (January-December), not the fiscal year (July-June). On the other hand, the World Bank and ADB forecast GDP growth for the fiscal year i.e. July-June. The two companies also made predictions regarding growth this month. Among them, the World Bank has said that in the current fiscal year 2021-22, the growth in Bangladesh could be 6.4%. The ADB has forecasted 6.9% growth.
The post-COVID economic recovery around the world has slowed down due to the Russia-Ukraine war. As a result, the world’s average economic growth this year could be 3.7%.
The IMF says that India will have the highest growth rate in the region at 8.2% in 2022. Among other countries, Bhutan is expected to grow by 4.4%, Nepal by 4.1%, Pakistan by 4%, and Sri Lanka by 2.8%. However, the Maldives’ GDP could reduce by more than 24%.
