Bangladesh economy to grow 6.6% in FY22: IMF
19 December 2021, 04:55 pm | Updated: 26 November 2024, 11:37 pm
Bangladesh’s economic growth is expected to increase to 6.6% in the fiscal year 2022, forecasted International Monetary Fund, as the coronavirus pandemic abates and policies remain accommodative.
According to a statement issued by the IMF, the growth may rise to 7.1% the fiscal year after that, citing an improvement in the external environment and progress with the domestic vaccination program.
“The uncertainty around the outlook remains high and risks are tilted to the downside,” IMF economist Rahul Anand was quoted in the statement as saying, following a visit to capital Dhaka from December 5 to 19.
Gross domestic product rose 5.43% for the financial year ended June 2021, according to a provisional estimate from the Bangladesh Bureau of Statistics. In June, the government proposed a 12% increase in the budget to spur economic activity and offset the pandemic’s fallout.
“An orderly exit from COVID-19 related financial policies remain important to reduce the buildup of financial sector vulnerabilities,” Anand said. “With the economy rebounding, the central bank should closely monitor inflationary pressures and stand ready to normalize,” he said.
