Bangladesh may see its economic growth decelerate to 6.0 per cent in the current fiscal as per a revised IMF forecast prompted by few more macroeconomic adversities it finds. The International Monetary Fund (IMF) cites volatile in macroeconomic situation over the last few months in downsizing the country's GDP growth for the fiscal year (FY) 2023-24, as inflation remains steep and reserves keep receding. Meanwhile, the World Bank in its World Development Outlook report also has lowered the country's growth forecast by 0.60-percentage points to 5.6 per cent from its earlier April projection at 6.2 per cent. All the three multilateral development financiers' assessments fall behind government target to achieve a 7.5-percent GDP growth in the current fiscal. On inflation, the global lender, IMF, gives a contrasting trend on global and local scales as it forecasts a lower global inflation but says Bangladeshi consumers to count high consumer prices.

Source: bd News24 October 10, 2023 16:47 UTC