The ADB has lowered its forecast for Bangladesh’s economic growth to 5.1 percent for the current fiscal year, primarily due to supply disruptions caused by political unrest in July and August 2024
The ADB’s projection comes days after the Bangladesh Bureau of Statistics said economic growth in the October-December quarter of fiscal 2023-24 halved to 3.78 percent, the slowest pace in three quarters, as manufacturing output growth declined sharply owing to reduced domestic consumption.
Developing Asia will likely end the year on a brighter note, the Asian Development Bank said on Wednesday, with growth in the region expected to be stronger than previously thought due mainly to a recovery in China's economy.
Bangladesh's gross domestic product (GDP) is expected to grow by 6.5 percent in fiscal year 2024, compared with an estimated growth of 6.0 percent in FY 2023, it said.
The latest forecast by the Manila-based multilateral lender is close to the estimate by the Bangladesh Bureau of Statistics (BBS) at 6.03 percent for the FY23.
The ADB has lowered its forecast for Bangladesh’s economic growth to 5.1 percent for the current fiscal year, primarily due to supply disruptions caused by political unrest in July and August 2024
The ADB’s projection comes days after the Bangladesh Bureau of Statistics said economic growth in the October-December quarter of fiscal 2023-24 halved to 3.78 percent, the slowest pace in three quarters, as manufacturing output growth declined sharply owing to reduced domestic consumption.
Developing Asia will likely end the year on a brighter note, the Asian Development Bank said on Wednesday, with growth in the region expected to be stronger than previously thought due mainly to a recovery in China's economy.
Bangladesh's gross domestic product (GDP) is expected to grow by 6.5 percent in fiscal year 2024, compared with an estimated growth of 6.0 percent in FY 2023, it said.
The latest forecast by the Manila-based multilateral lender is close to the estimate by the Bangladesh Bureau of Statistics (BBS) at 6.03 percent for the FY23.
