Bangladesh's economy projected to grow 5.82 pc in  FY 2023-24

DHAKA: Bangladesh's economy is projected to grow 5.82% in the current 2023-24 fiscal year (July 2023-June 2024), according to a provisional estimation by the Bangladesh Bureau of Statistics (BBS).

This increase in the gross domestic product (GDP) is a marginal rise from the previous fiscal year's 5.78%, and aligns closely with the forecasts of 5.7% and 5.6% by the International Monetary Fund and the World Bank respectively, as reported by the state-run news agency BSS on Monday.

In the meantime, the forecast for per capita income shows a slight increase to $2,784 in the current fiscal year, up from $2,749 in the previous year. This estimate is based on data from the first seven months of the current fiscal year.

Bangladesh's GDP at current prices is valued at $459 billion, an increase from $452 billion in the previous fiscal year.

A sector-wise analysis of growth reveals a decrease in agriculture and industry, but a slight increase in the services sector.

By RSS/Xinhua