A robust economic recovery in Bangladesh is facing new headwinds. Higher global commodity prices are widening the current account deficit and increasing inflationary pressure in the context of the war in Ukraine. Real GDP growth accelerated to 6.9 percent in FY21 as pandemic-related restrictions were eased, led by a rebound of manufacturing and service sector activities. On the demand side, exports and private consumption led growth. High-frequency indicators point to a resilient recovery in the first half of FY22, although the pace of growth slowed modestly.
DETAILS
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Bangladesh Development Update: Recovery and Resilience Amid Global Uncertainty
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4/13/2022 11:47:00 AM
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4/13/2022 07:00:00 AM
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Bernard Haven,Robert Carl Michael Beyer,Nora Carina Dihel,Nazmus Sadat Khan,Selvia Arshad,Yutaka Yoshino
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Report (Report)
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English
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Bangladesh
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South Asia (SAR)
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Macroeconomics and Economic Growth,Macro-Fiscal Policy,Commodities
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A robust economic recovery in Bangladesh is facing new headwinds. Higher global commodity prices are widening the current account deficit and increasing inflationary pressure in the context of the war in Ukraine. Real GDP growth accelerated to 6.9 percent in FY21 as pandemic-related restrictions were eased, led by a rebound of manufacturing and service sector activities. On the demand side, exports and private consumption led growth. High-frequency indicators point to a resilient recovery in the first half of FY22, although the pace of growth slowed modestly.
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