IMF too projects lower growth of 7.3pc for FY19

Staff Correspondent | Published: 00:00, Apr 10,2019 | Updated: 00:13, Apr 10,2019

 
 

International Monetary Fund on Tuesday projected that Bangladesh economy would grow by 7.3 per cent in the current fiscal year (2018-2019), much lower than the government’s provisional estimate.
The government in March released the provisional estimate of gross domestic product (GDP) growth, claiming that GDP growth would be 8.13 per cent in the FY19.
IMF made the projection in its flagship report titled ‘World Economic Outlook April-2019’ released on the day.
The global lender in its October-2018 outlook projected 7.1 per cent GDP growth for Bangladesh for the current fiscal year.
The factors behind the IMF’s GDP projection for Bangladesh at lower rate than the government’s provisional estimate could not be known as it did not release any analysis on Bangladesh growth.
Earlier, in last week, World Bank also projected 7.3 per cent GDP growth for Bangladesh while Asian Development Bank said that the country’s GDP growth would be 8 per cent in the year.
IMF also retained its medium-term growth projection at 7 per cent for Bangladesh for FY 2024.
According to IMF, the county’s point-to-point inflation would reach 5.4 per cent in FY19.
It said that the current account deficit would be 1.9 per cent of GDP in FY19.

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