IMF report: Bangladesh is ahead of China Malaysia in the race of growth

May 1, 2024 3:56 am

In the current fiscal year, Bangladesh will be ahead of many countries including China, Malaysia, Thailand in the race of GDP growth. In the current financial year, the growth of Bangladesh may be 5.7 percent. Among South Asian countries, the position of Bangladesh will be after India in the race of growth. India’s growth could be 6.8 percent.

These data were obtained from the report entitled ‘Regional Economic Outlook, Asia and Pacific Region’ published by the International Monetary Fund (IMF) on Tuesday.

The report cut the previous forecast for Bangladesh by 3.3 percent. Earlier, the IMF had said that Bangladesh’s GDP growth in the current financial year will be 6 percent. In the discussion report, the growth rate has been reduced to 5.7 percent.

Economic activity in many countries has been slower than expected as the dollar crisis has disrupted imports and pursued contractionary monetary policy to control inflation, the IMF said. Due to which the growth target has been reduced as compared to earlier.

The IMF said growth was 6 percent last fiscal year. This time also a projection of 6 percent was made. But the pace of economic activity is slower than expected, so the growth rate will also slow down. The growth may increase to 6.6 percent in the next financial year.

Bangladesh’s growth will be higher than many countries in the Asia and Pacific region. Among them, Bangladesh will be more than China, Japan, Indonesia, Malaysia and Thailand. But it will be less than India and Vietnam.

China’s growth this year will be 4.6 percent, India’s 6.8 percent, Indonesia’s 5 percent, Malaysia’s 4.4 percent, Myanmar’s growth will be 1.5 percent, Nepal’s 3.1 percent, Philippines’ 6.2 percent, Thailand’s 2.7 percent, 5.8 percent of Vietnam.

Although Sri Lanka has already recovered from the economic crisis and returned to the growth trend, the IMF has not given any growth forecast for them.