Bangladesh's GDP growth to be 6.2pc in FY '24

The World Bank (WB) has projected Bangladesh's GDP (gross domestic product) growth to be 6.2 per cent for the Fiscal year (FY)'24 and 6.4 per cent for FY'25

The global lender made the projections in its Global Economic Prospect in June.

It, however, said in Bangladesh, continued import suppression measures and energy shortages weighed on both industrial production and the services sector.

According to the WB, import restrictions imposed by several economies (Bangladesh, Nepal, Pakistan, Sri Lanka), which adversely affected economic activity, have been relaxed as external imbalances have improved and exchange rate pressures have eased.

Food export bans, however, are expected to remain in place in Bangladesh, India, and Pakistan through 2023 despite falling global prices.