<span style="color: #000000;">Asian Development Bank (ADB) has projected Bangladesh's gross domestic product (GDP) growth to be 6.5 percent in the fiscal year 2024, compared to an estimated growth of 6 percent in fiscal 2023.&nbsp;</span><br />''<br />''The projection was made in the latest ADB report, 'Asian Development Outlook (ADO) September 2023,' released on Wednesday.<br />''<br />''The slightly faster growth forecast reflects an improvement in domestic demand and better export growth due to economic recovery in the euro area, ADB said in a press release.&nbsp;<br />''<br />''<span style="color: #000000;">ADB also predicted that&nbsp; Inflation in Bangladesh will ease from 9.0% in FY2023 to 6.6% in FY2024. However,&nbsp;food inflation for the month of August 2023 was 12.54 per cent which is 12 years high&nbsp;according to the Bangladesh Bureau of Statistics.<br />''</span><br />''ADB also expects that the current account deficit will slightly narrow from 0.7% of GDP in FY2023 to 0.5% of GDP in FY2024 as remittance growth improves.<br />''<br />''<span style="color: #000000;">The main risk to this growth projection is a further deterioration in export growth if global demand is weaker than expected, said ADB.</span><br />
News On AIR | September 20, 2023 6:55 PM
ADB predicts 6.5 percent GDP growth for Bangladesh in FY 2024