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

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

^{Published on 2024-12-02 16:00:47 - Bill Williamson, WOPRAI}

The government has revised its GDP growth projection for FY25 downward to 5.25%, from the initial estimate of 6.75%, due to the ongoing financial crisis, business slowdown, and political volatility following the recent change in government.

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.

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

N@N

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