IMF cuts Bangladesh’s economic growth forecast to 6%  

The International Monetary Fund (IMF) has revised down growth forecast for Bangladesh's economy to 6 percent for the fiscal year 2023-24, lower from its previous projection of 6.5 percent.

The revised growth forecast by the Washington-based multilateral lender comes a week after the World Bank lowered Bangladesh's Gross Domestic Product (GDP) growth projection for fiscal 2023-24 to 5.6 percent amid sustained high inflation and external payment challenges.

The IMF said Bangladesh's economy grew 6 percent in the immediate fiscal year, according to its World Economic Outlook released today.

It, however, revised its projections upward for Bangladesh's growth to 6 percent for the fiscal year 2022-23 from its previous forecast of 5.5 percent.

The multilateral lender keeps 2023 global growth forecast for 2023 unchanged, despite significant underlying differences between regions, while lifting its inflation outlook for the next couple of years, reports AFP.

The IMF, however, has cut its 2023 economic growth forecast for China to 5.0 percent from 5.2 percent.