IMF Projects 5 percent growth rate for Bangladesh

The International Monetary Fund has projected a 5 percent growth rate for Bangladesh for the year 2021.

In its latest World Economic Outlook released ahead of the spring meeting, the IMF projected that the Bangladesh economy will grow at 7.5 percent in the year 2022. Consequently, the GDP of Bangladesh is projected to grow from USD 329 billion in 2020 to USD 352 billion in 2021. 

The per capita GDP of Bangladesh currently at USD 1998 in 2020 will grow to USD 2122 in the year 2021  and USD 2330 in the year 2022. The IMF also made an upward revision in the global growth rate projection  to 6 percent for the year 2021 and 4.4 percent for  2022.

The report noted that an additional 95 million people are estimated to have fallen into extreme poverty in 2020. Commenting on the high growth rate projection in the World Economic Outlook report, IMF Chief Economist Gita Gopinath said that the 1.9 trillion dollar US stimulus and adapting to the continuing pandemic by the countries has contributed substantially to the positive change in the growth outlook. 

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