The South Asian region, comprising eight countries, is likely to show economic growth of 1.8% to 2.8% this year, the World Bank said in its South Asia Economic Focus report, well down from the 6.3% it projected six months ago. Bangladesh’s economy is expected to grow 2.0% to 3.0% in fiscal 2020, followed by 1.2% to 2.9% in fiscal 2021, according to the World Bank. The World Bank has estimated it will grow 4.8% to 5% in the fiscal year that ended on March 31. “The COVID-19 crisis is also an urgent call-to-action moment to pursue innovative policies and jumpstart South Asian economies once the crisis is over. Since many South Asian countries have limited fiscal space, these policies should target people worst hit by the freeze on economic activity, according to the World Bank.

Source: bd News24 April 12, 2020 03:56 UTC