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IMF forecasts 6.9 percent growth for 2016

2016-10-05 18:03:30
IMF forecasts 6.9 percent growth for 2016

Thereport24.com Correspondent, Dhaka:

Bangladesh Economy would grow at the rate of 6.9 percent in 2016, which will remain unchanged till 2017, according to the World Economic Outlook (WEO) 2016 of the International Monetary Fund (IMF).

The IMF's forecast, released Tuesday, is near the government's estimate of 7.0 GDP (gross domestic product) for the 2015-16 fiscal year, ended last June, reports BSS.

Bangladesh Bureau of Statistics (BBS), however, estimated the growth at 7.05 while the Asian Development Bank (ADB) revised its growth forecast for Bangladesh upward at 7.05.

The IMF growth estimate for Bangladesh is marginally lower than others when the organisation also forecasts "stifling growth" in advanced economies.

The WEO highlighted the precarious nature of the recovery eight years after the global financial crisis. It raised the specter that persistent stagnation, particularly in advanced economies, could further fuel populist calls for restrictions on trade and immigration.

"In emerging market and developing economies, growth will accelerate for the first time in six years, to 4.2 percent, slightly higher than the July forecast of 4.1 percent. Next year, emerging economies are expected to grow 4.6 percent," the IMF said.

Ends/thereport24.com/HB/Oct 05, 2016

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