Bangladesh Economic Outlook
March 19, 2019The economy appears to be faring well in the current fiscal year ending in June, as reflected by the narrowing of the current account deficit in July–January thanks to increased remittance inflows and garment exports. However, on 5 March, the Human Rights Watch called on the government to investigate allegations that thousands of garment industry workers were unfairly dismissed by employers after protesting in December and January over low wages. On the same day, the World Bank approved a USD 185 million loan to Bangladesh to support the development of renewable energy in the country; two days later, the bank sanctioned a USD 165 million grant to help the government provide basic services to refugees from Myanmar.
Bangladesh Economic GrowthEconomic growth will moderate this fiscal year, although should remain robust nonetheless. Specifically, growing remittances will likely continue to underpin private consumption, while strong government consumption and investment should buffer growth. That said, risks of natural disasters, a weak global trade environment and a struggling domestic banking system all cloud prospects. Our panelists expect GDP to expand 7.4% in FY 2019, which is unchanged from last month’s forecast, and 7.2% in FY 2020.
Bangladesh Economy Data
5 years of Bangladesh economic forecasts for more than 30 economic indicators.
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|Exchange Rate||83.97||0.14 %||Mar 20|
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