World Bank lowers Bangladesh’s growth projection for FY24

The World Bank in its latest update released on Tuesday has projected Bangladesh’s economic growth to be 5.6 percent in the 2023-24 fiscal year ending next June.   The global lender in its previous projection in April, forecasted a 6.2 percent GDP growth for the current fiscal year.   The World Bank in its update stated that Bangladesh made a strong recovery from the COVID-19 pandemic, but the post-pandemic recovery was disrupted in FY23 with rising inflation, vulnerabilities in the fi...