Amid political changes, the ADB had earlier predicted a decline in growthWorld Bank projects growth to fall to 4% amid political changesThe World Bank forecasts that Bangladesh’s economic growth will drop to 4 percent in the 2024-25 fiscal year, highlighting uncertainties amid the changing political landscape following a power shift. In its latest outlook released on Thursday, the World Bank noted this significant decline from its previous April prediction of 5.7 percent. Previously, in April, the World Bank had forecast a growth rate of 5.7 percent for the current fiscal year. The updated report says sluggish garment exports and the current political situation following mass protests are contributing factors to the decline in growth. The World Bank projects economic growth in Bangladesh for the fiscal year 2023-24 at 5.2 percent, slowing to 4 percent by 2024-25.

Source: bd News24 October 10, 2024 17:38 UTC