DHAKA, June 28 (Xinhua) -- Bangladesh's economic growth is forecast to slow to 5.7 percent in the next financial year of 2024-25 (July 2024-June 2025), the Mastercard Economic Institute (MEI) said.
David Mann, chief economist for Asia Pacific and Middle East Africa at Mastercard, presented the latest outlook of the global and Bangladesh markets at a roundtable here Thursday.
According to the MEI, the Bangladeshi economy is currently facing challenges due to weak domestic and external demand with high inflation which is weighing on the consumers' purchasing power.
The MEI said Bangladesh inflation would increase to 9.8 percent in the 2023-24 fiscal year before easing to 8 percent in the 2024-25 fiscal year.
A day earlier, the International Monetary Fund (IMF) projected the Gross Domestic Product (GDP) growth for Bangladesh at 6.6 percent for the 2024-25 fiscal year.
The Bangladeshi government is reportedly attaining a GDP growth target of 6.75 percent in the next fiscal year. ■