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Bangladesh’s GDP is predicted to grow 6.8% in FY2021 and 7.2% in FY2022, said ADB

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DHAKA, 28 April, 2021 (TON): The Asian Development Bank said in its Asian Development Outlook report on Wednesday that Bangladesh’s GDP growth is projected to accelerate 6.8% in FY2021 with stimulus package implementation and recovery in global growth and world trade.

In Fiscal year 2022, GDP growth is expected to edge up further to 7.2% as both exports and imports pick up under sustained global recovery.

ADB said, “Continuing strong remittances will underpin growth in private consumption, and private investment will accelerate on favorable global economic conditions and efforts to improve the business climate.”

By the region, South Asia will record the fastest economic recovery this year, with the ADB predicting an expansion of 9.5% after a 6% contraction in 2020, buoyed by India's economic revival.

However, according to the report, growth will continue to strengthen gradually in South Asia’s other economies as well.

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