The Asian Development Bank (ADB) has projected Bangladesh’s GDP growth rate to slow to 4.3 percent in fiscal year (FY) 2025, reflecting a subdued outlook amid political uncertainty, supply disruptions and tight monetary policy.

The GDP growth target may be brought down to 5.25 percent in the revised budget for the current fiscal year due to the damage caused by multiple floods and the interim government’s contractionary monetary policy to contain high inflation.

With inflation edging towards double digits and quarterly GDP growth nearly halving year on year, pressure on consumers is mounting and experts are pointing at even darker clouds.

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Pursuing GDP growth at the expense of people’s well-being will bring it down.

The current low revenue base in Bangladesh could be further undermined by the measures taken in the budget for FY2023, including corporate tax cuts, American credit rating agency Fitch said in its latest report.

The national budget for fiscal year 2022-23 predicted a gross domestic product (GDP) growth of 7.5 per cent, which is unrealistic and not objective, AB Mirza Azizul Islam, former adviser to the caretaker government, said yesterday.

Puzzling positive developments in our economic indicators, which hardly delineate the real socioeconomic conditions of the people in Bangladesh, are not new phenomena.

Policymakers will find it tough to bring some sort of a balance between targets to ensure economic growth while containing inflation in the next fiscal year, economist Zahid Hussain said yesterday.

The Asian Development Bank (ADB) has forecasted that Bangladesh’s gross domestic product (GDP) would continue to maintain the similar strong growth at 6.9 percent this fiscal year (2021-22) as it did in the previous FY.