World Bank cuts Bangladesh's growth forecast to 4pc amidst 'uncertainty'

The World Bank (WB) has downsized its growth forecast for Bangladesh to 4 per cent for the current fiscal year, citing “significant uncertainty.”

The multilateral lender pointed to weak growth in investment and industry, alongside moderate growth in agriculture, which has been impacted by recent flooding.

However, the WB has noted that the actual growth for South Asia is likely to be higher than its previous forecast.

In its South Asia Development Update released on Wednesday, the global lender projected Bangladesh’s growth to slow down to between 3.2 per cent and 5.2 per cent. The midpoint of this range is 4 per cent.

Earlier in April, the Washington-based financial institution had forecast a 5.7 per cent growth for the current 2024-25 fiscal year.