Govt sets ambitious 5.2% GDP growth this year, 8.2% next year

The government has revised down the GDP (Gross domestic product) growth for the outgoing fiscal year at 5.2 percent from previous 8.2 percent due to the rampage of the coronavirus on the economy.

However, in view of the post-Covid recovery, the growth rate is projected at 8.2 percent for FY 2020-21 in line with the long-term plans.

Yet, both projections are much higher than that of the international and local institutions.

The World Bank on June 8 in its June 2020 Global Economic Prospects, projected Bangladesh's GDP growth to come down to 1.6 percent in the current fiscal year ending on June 30.

Moreover, it may also witness drastic declines to 1 percent in the coming fiscal year.

Bangladesh's GDP grew by 8.15 percent in the FY 2018-19.