The slightly faster growth forecast reflects an improvement in domestic demand and better export growth due to economic recovery in the euro area. The current account deficit is expected to slightly narrow from 0.7% of GDP in FY2023 to 0.5% of GDP in FY2024 as remittance growth improves. "The government is managing relatively well against the external economic uncertainties, while advancing infrastructure development and critical reforms to improve investment climate," said ADB Country Director Edimon Ginting. Private investment, however, may be dampened by the initial higher interest rates following the enhancement in the country's monetary policy framework. In its 50-year partnership with Bangladesh, ADB has mobilized over $50 billion in loans and grants, including cofinancing, to improve infrastructure, public services and social development for the people of Bangladesh.

Source: Bangladesh Sangbad Sangstha September 20, 2023 14:57 UTC