The World Bank on Wednesday cut Bangladesh's economic growth (Gross Domestic Product -GDP) forecast for the 2022-23 fiscal year further by 0.9 per cent to 5.2 percent.
The GDP growth has been predicted in the World Bank's 'Global Economic Prospects report released on Tuesday night which is down from 7.2 per cent growth in the previous year.
The government has set a target of 7.5 per cent GDP growth in the current financial year, reports UNB.
The World Bank said that the growth of Bangladesh may increase slightly to 6.2 per cent in the next financial year.
According to the report, the economy of Bangladesh is being affected due to the global context.
“Bangladesh’s economy is affected by the global situation and the sharp increase in fuel prices in the international market,” it said.
As a result, there has been a disruption in power supply to industries and households. Industrial production has been disrupted.
The government had to do load-shedding to deal with the situation. Apart from this, buying of cars has been stopped as well as luxury goods have been discouraged, it said.
Bd-pratidin English/Golam Rosul
