Bangladesh’s economic growth to slow to 5.6% in FY24: World Bank

Bangladesh's economic growth is forecast to slow to 5.6 percent in the current financial year of 2023-24, the World Bank said. 

The forecast came in the Washington-based lender's Global Economic Prospects report, which was released yesterday. 

"Inflation is likely to remain elevated, weighing on private consumption. As foreign exchange reserves are likely to stay low, import restrictions are expected to continue and impede private investment," the WB said. 

In contrast, public investment is envisaged to remain resilient. 

The economic growth is expected to rise in the next financial year as inflationary pressure recedes, the report said.