World Bank lowers Bangladesh's GDP growth forecast for FY25

The World Bank has downsized the GDP growth forecast for Bangladesh by 0.1 percentage point to 5.7 per cent for the next fiscal year (FY2025).

Elevated inflation, force shortages, import restrictions, and financial sector vulnerabilities weighed on the economic outlook, the global lender said on Tuesday.

The bank, however, has maintained the same GDP growth projection for the current fiscal year FY2024.

In the current fiscal, the country will grow at 5.60 per cent, the WB said in its Bangladesh Development Update report, disclosed on Tuesday in Dhaka.

Earlier, the WB South Asia Development Update was also launched on Tuesday from Sri Lanka where it raised the regional economic growth to 6.0 per cent for FY2024 and 6.1 per cent for FY2025.