IMF raises growth projection for Bangladesh to 6.6pc

Dhaka: The International Monetary Fund (IMF) has raised Bangladesh’s economic growth projection to 6.6 per cent for the current fiscal year, up from the early forecast of 6.5 per cent in October.

The Washington-based multilateral lender announced the projection at a press briefing held at InterContinental Dhaka on December 19.

Rahul Anand, Division Chief, Asia Pacific Department, highlighted the rising economic activities and export earnings rebound as the major reasons for raising the growth projection.

However, the projection is still lower than the government's target of 7.2 per cent for the fiscal year 2021-22.

"Despite being hit by multiple waves of the coronavirus pandemic, quick and decisive actions by the authorities, supported by the external environment, led to a much quicker rebound than Bangladesh's regional peers," Anand said.

Growth is expected to increase to 6.6 per cent in FY22, which may further pick up to 7.1 per cent in FY23, the IMF added.

Led by Rahul Anand, the IMF staff team arrived in the capital on December 5. They met with high government officials of the finance ministry, Bangladesh Bank and National Board of Revenue.