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Govt lowers FY25 GDP growth forecast to 5.25%, estimates inflation at 9%

The Bangladesh government has revised its GDP growth forecast for the fiscal year 2024-25 (FY25) to 6.75%, down from an earlier projection of 7.5%, as announced by Finance Minister Abul Hassan Mahmood Ali during the budget presentation for FY25. This adjustment reflects a more conservative outlook due to various economic challenges. Additionally, the government has set an inflation target of 6.5% for the same fiscal year, aiming to manage price stability amidst global economic uncertainties. The budget also includes plans to increase tax revenue by 8.6% to Tk 5 lakh crore, with a significant portion expected from income tax, and to reduce the budget deficit to 4.6% of GDP from the current 5.2%. These measures are part of a broader strategy to foster economic stability and growth in a challenging global environment.

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[ https://www.tbsnews.net/economy/govt-lowers-fy25-gdp-growth-forecast-525-estimates-inflation-9-1008446 ]