Home Business The World Bank predicted that the growth rate of Bangladesh will decrease in the current financial year as well

The World Bank predicted that the growth rate of Bangladesh will decrease in the current financial year as well

by endroar

According to the World Bank, Bangladesh's growth in the fiscal year 2022-23 was 5.8 percent; In the financial year 2021-22, the growth has been 7.1 percent. That is, according to them, the country's growth rate is going to decrease below 6 percent for two consecutive fiscal years after 2021-22 fiscal year.

The World Bank has also said that there is a need to be more cautious about bank mergers in Bangladesh. The institution believes that banks should be merged based on asset quality and specific policies. They also opined that monetary policy should be tightened further to control inflation.

According to the World Bank report, the growth of private sector credit in Bangladesh has slowed further in the financial year 2023-24. It is understood that there is a recession in investment. According to the World Bank, the sector is under pressure due to weak regulation along with high rate of defaulted loans in the banking sector.

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