Staff Reporter :
The World Bank (WB) has maintained its economic growth projection for Bangladesh at 3.3 per cent for the current fiscal year (2024-25), unchanged from its April forecast. The projection was reaffirmed in the Bank’s latest edition of the Global Economic Prospects report, published on Tuesday.
This estimate is notably lower than the 4.1 per cent growth forecast the World Bank had made in January, indicating a downward revision earlier in the year. It also trails the Bangladesh Bureau of Statistics’ (BBS) provisional figure, which places GDP growth at 3.97 per cent for the same fiscal year.
In its previous South Asia regional update released ahead of the World Bank’s Spring Meetings in April, the 3.3 per cent forecast for Bangladesh had already signalled a cautious outlook, citing ongoing challenges in both domestic and global economic environments.
Looking ahead, the Bank projects that Bangladesh’s GDP growth will recover modestly to 4.9 per cent in FY2025-26, though this is 0.5 percentage points lower than the 5.4 per cent forecast published in January.
The revised outlook reflects broader global economic uncertainties, fiscal constraints, and subdued investment momentum.
The World Bank’s report also highlights a global trend of slowing growth, noting that forecasts have been downgraded for nearly 70 per cent of economies worldwide, including major players such as the United States, China, and the European Union, as well as several key emerging market regions.
These downward revisions are attributed to a combination of factors, including tighter monetary policies, sluggish global trade, and persistent geopolitical tensions.
As Bangladesh navigates its economic recovery, analysts suggest that structural reforms, investment in human capital, and policy consistency will be essential to boosting growth and resilience in the face of a challenging global landscape.
