ADB lowers BD growth forecast at 6.5pc for FY 25

The Asian Development Bank (ADB) has revised downward the country's economic growth projection and said inflation might creep up further during the current fiscal 2024-25.

According to Asian Development Outlook for July 2024 published last week, Bangladesh's economy might grow at 6.5 percent in this fiscal year, which is however lower than its forecast for April at 6.6 percent owing to sluggish growth of the industrial sector.

The Manila-based lender's projection is lower than the government's 6.75 percent growth target for the economy for 2024-25.
The ADB's forecast came just before the country witnessed a five-day severe disruptions in economic activities amidst an internet outage, violence centering a movement for reforming quota at public jobs and subsequent curfew to control the situation.

The multilateral lender said monthly inflation rates in Bangladesh continued to be near double digits in the first 11 months of FY2024 and may persist due to high domestic food prices.