Bangladesh continues strong recovery from pandemic: ADB

Bangladesh's gross domestic product (GDP) is expected to grow by 6.8 percent in current fiscal year (FY22), an Asian Development Bank (ADB) report said. The report titled "Asian Development Outlook (ADO) 2021 Update" released today said the growth projection reflects a strong recovery supported by strengthening manufacturing, continued expansion in the global economy and effective government recovery policies.

Appreciating Bangladesh’s economic management during the pandemic, ADB Country Director Manmohan Parkash said that the government’s policies for saving lives while protecting livelihoods underpinned the recovery process in Bangladesh making it one of the few countries in the world to sustain a commendable growth rate even in difficult times.  Prudent macroeconomic management and efficient implementation of the stimulus measures and social protection programmes helped, said the ADB country Director. The report noted that in FY 2022, improving consumer confidence and the stimulus measures of the government are expected to boost private and public investment. Strong remittances will stimulate private consumption, notes the ADB report.