The most recent forecast released by the International Monetary Fund (IMF) focuses on the Asia-Pacific region, specifically shedding light on Bangladesh’s economic growth. According to the IMF’s Regional Economic Outlook for Asia and Pacific May 2023 report, Bangladesh is expected to outpace China in terms of GDP growth rate during the current fiscal year.
While China’s economy remains larger than Bangladesh’s, the report highlights the significant progress made by Bangladesh, positioning it as the second-fastest growing economy in the region for the upcoming fiscal year, following Vietnam.
Looking ahead to 2024, Bangladesh is projected to surpass both China and India in terms of growth, marking a remarkable milestone for the country. The report also emphasizes the positive impact of the Extended Fund Facility and the Resilience and Sustainability Facility arrangement, which will help tackle economic challenges and foster climate investment priorities in Bangladesh. In addition, it underscores the significance of international collaboration and financial support to address climate change adaptation in vulnerable emerging markets such as Bangladesh and the Pacific Islands.
The findings of the IMF report indicate a promising future for Bangladesh’s economy and highlight the importance of sustained efforts in addressing economic and climate-related concerns.
