<span style="color: #222222;">The World Bank has projected an economic growth rate of 1.6 percent for Bangladesh for the FY 2020-21. In its latest report on Global Economic Prospects released on Tuesday, the Bank has noted that the world economy is likely to grow by 4 percent in 2021.<br />'' <br />'' The report points out that in Bangladesh, which had been one of the fastest growing emerging market and developing economies prior to the pandemic, growth is estimated to have decelerated to 2% in FY 2019/20.<br />'' <br />'' Bangladesh had recorded a growth rate of 8.2 percent in 2019 which is estimated to decelerate to 2.0 percent in 2020 further dipping to an estimated 1.6 percent for the FY 2020-21. The forecast notes that the growth rate in Bangladesh will rebound to 3.4 percent in 2022.<br />'' <br />'' The Bangladesh government had projected to achieve a growth rate of 7.4 percent in the current financial year.<br />'' <br />'' In its regional outlook for South Asia, the WB notes that the output in the region contracted by 6.7 percent in 2020 reflecting the effects of Corona pandemic and nationwide lockdowns, particularly in Bangladesh and India.<br />'' <br />'' The World Bank projects the South Asian region to grow by 3.3 percent in 2021.<br />'' <br />'' The World Bank has cautioned that the recovery will be subdued unless policy makers take decisive steps to implement  investment enhancing reforms in the economy.<br />''<br />''The report noted that the pandemic led to severe production losses and sharp increase in South Asian poverty and unemployment.</span>