WB forecasts Bangladesh’s growth may be slow

The World Bank has projected that Bangladesh’s economy may grow at a slower pace in the current fiscal year than it did in the previous year.

It has projected a 5.6% economic growth in Bangladesh for the current fiscal year. Earlier in April this year, it had projected a 6.2% GDP growth for Bangladesh in the current fiscal year.

The projection came from the update of the Bangladesh Development report by the World Bank, released during a press briefing arranged by the Dhaka office of the global development partner on Tuesday.

The growth will be slow as it faces significant economic headwinds such as high inflation, external payment pressure, financial sector vulnerabilities and uncertainty, the report said.