Dhaka, Bangladesh (BBN)– The International Monetary Fund (IMF) has projected the country’s real gross domestic product (GDP) growth about 6.25 per cent in fiscal year (FY) 2014-15.
“….with a calmer political environment economic activity is gaining momentum, and real GDP growth is expected at about 6¼ percent in fiscal year (FY)15 (July 2014-June 2015), supported by strong domestic demand,” the IMF said after concluding its fifth review under the Extended Credit Facility (ECF) arrangement with Bangladesh.
The IMF also said the Bangladesh authorities have made significant progress in consolidating macroeconomic stability under the ECF-supported program.
“Despite a moderation in exports, foreign exchange reserves have continued to increase and have reached adequate levels, inflation has declined, the fiscal deficit is contained and public debt is on a downward path,” it noted.
It also said there has also been progress on structural reforms. However, the introduction of a new value added tax (VAT), a key government reform to boost fiscal space for development spending, is facing delays.
BBN/SSR/AD-30Sept14-9:37 pm (BST)
