Bangladesh's GDP growth projection has been lowered further to 6.03% for the current fiscal year FY23, State Minister for Planning Shamsul Alam said after a meeting of the National Economic Council (NEC) held in Dhaka on Thursday.
Although the government has reduced the GDP growth, this growth rate still surpasses the estimates made by the Asian Development Bank and the World Bank, yet slightly lower than the government's initial projection of 6.5%.
According to the Bangladesh Development Update April 2023 by the World Bank, the country's gross domestic product (GDP) is expected to increase by 5.2% in FY23.
In line with these figures, the Asian Development Bank (ADB) reported in April that Bangladesh's GDP will grow by 5.3% in the ongoing fiscal.