Bangladesh economy to grow by 6.6% in FY23: ADB

The Asian Development Bank (ADB) expects the gross domestic product (GDP) of Bangladesh to grow by 6.6 per cent in the current fiscal year (FY 2022-23) because of fall in domestic consumption and demand_ export and remittance income as well as the sloth global economy.

ADB unveiled the forecast in its development outlook for September that was released at a press conference at the lender s Dhaka office on Wednesday.  Edimon Ginting_ ADB's country director for Bangladesh addressed the briefing.

Bangladesh economy grew by 7.2 per cent in 2021-22 fiscal.

According to the ADB_ the average inflation may stand at 6.7 per cent in Bangladesh because of rising global food and fuel prices triggered by the Russian-Ukraine war.

Currently_ inflation has topped 7 per cent in the country over the past two months.

Addressing the event_ Edimon Ginting said investment would not be as expected amidst the uncertainty in global economy and because of fuel crisis.

As the government investment will also see downtrend_ he said urging the government to increase the revenue.

The ADB boss_ however_ thinks a 6.6 per cent growth is  good for the economy.