Bangladesh’s growth prospects face headwinds from global trade shocks, persistent inflation, and domestic financial sector fragilities, the Asian Development Bank has warned, even as the economy is expected to expand moderately in the current fiscal year.

Bangladesh's gross domestic product (GDP) is expected to grow by 6.5 percent in fiscal year 2024, compared with an estimated growth of 6.0 percent in FY 2023, it said.

The World Bank yesterday delivered yet another bad news for the economy as the Washington-based multilateral lender pared back Bangladesh’s growth forecast for this fiscal year by 1.5 percent to 5.2 percent.

The government has trimmed its growth forecast for this fiscal year by a whole percentage point to 6.5 percent as the energy shortage and inflation dampened economic activities.

The International Monetary Fund has cut Bangladesh’s growth forecast to 6 percent for fiscal year 2022-2023.