The Asian Development Bank on Thursday lowered the growth in gross domestic product and made upward revision of inflation in Bangladesh for FY25.
The Manila-based multilateral lender in its outlook in July said that the GDP growth forecast for FY25 was revised down marginally to 6.5 per cent.
In its outlook released in April, the ADB projected that Bangladesh economy would grow at 6.6 per cent.
In Bangladesh, the lower growth forecasts for FY25 come mainly from downward revisions to growth in industry, said the ADB.
The government of Bangladesh, meanwhile, projected GDP growth at 6.75 per cent for FY25.
The ADB said that almost double-digit inflation that had been persisting for 11 months of FY24 due to high domestic food prices would persist.
The ADP said that the GDP would be reduced from its previous projection of 6.1 per cent.
Bangladesh Bureau of Statistics has released provisional calculation of GDP at 5.8 per cent in FY 24.
The economists, however, doubted the BBS projection.
The apprehension expressed by the economists was strengthened due to correction of export figure data by $10.81 billion for the first 11 months鈥擩uly鈥揗ay period鈥攐f the just concluded FY24.
The export figure was lowered at $40.73 billion from $51.54 billion calculated by Export Promotion Bureau.
On Tuesday, the finance ministry dismissed the reported apprehension about reduction of gross domestic product and per capita income following correction of the export earnings,
In a press release, it said that the apprehension about reduction of gross domestic product and per capita income reported in newspapers was not correct.
Refuting apprehension of economists, the release said that the Bangladesh Bureau of Statistics always considered Bangladesh Bank data on export receipts to calculate the GDP.