The International Monetary Fund (IMF) on Tuesday lowered the economic growth forecast for Bangladesh in the ongoing FY25, after similar predictions made by the World Bank and the Asian Development Bank recently.
According to the IMF, Bangladesh is expected to see 4.5% economic growth in the current fiscal year, down from its April projection of 6.6%.
This marks the lowest growth estimate in nearly 20 years, excluding the pandemic-affected fiscal year of 2019-20.
In its latest edition of the World Economic Outlook released on the day, the multilateral agency said the global battle against inflation has largely been won, even though price pressures persist in some countries.
Meanwhile, in Bangladesh, inflation is likely to remain elevated, reaching 10.7% in FY25, up from 9.7% a year ago.
Earlier this month, the World Bank downgraded its outlook for Bangladesh, predicting economic growth of just 4% for the fiscal 2024-25, down from an April forecast of 5.7%.
Last month, the Asian Development Bank (ADB) also trimmed its growth outlook for Bangladesh, forecasting the economy to expand by 5.1% in the current fiscal 2024-25, down from its April projection of 6.6%.