The International Monetary Fund (IMF) has enhanced the economic growth projection for Bangladesh to 6.6 per cent for the current fiscal year (FY) from its October projection of 6.5 per cent.
“Growth is expected to pick up to 6.6 per cent in FY, 2021-22 as the impact of Covid-19 abates and policies remain accommodative,” Rahul Anand, Division Chief in the IMF’s Asia & Pacific Department, disclosed while addressing at a press briefing held at a city hotel on Sunday.
The projection is lower than the government's target of GDP (gross domestic product) growth 7.2 per cent for FY’22.
Earlier on October 12 this year, Washington-based global monetary watchdog cut the economic growth forecast for Bangladesh to 6.5 per cent for the current fiscal year from its April projection of 7.5 per cent mainly due to the worsening coronavirus pandemic dynamics.
As the external environment improves and the domestic vaccination programme progresses, the growth is projected to increase to 7.1 per cent in FY’23, Mr Anand explained.
He also said the uncertainty around the outlook remains high and risks are tilted to the downside.