Business Desk
Bangladesh’s economic growth is set to bounce back in FY2021 and rebound sharply in FY22, aided by strong global growth, said Standard Chartered economists during their presentation at an investor Road Show organised by Bangladesh Securities and Exchange Commission (BSEC) in Dubai on Thursday.
During the economic outlook presentation session facilitated by Standard Chartered, Edward Lee, Chief Economist, ASEAN and South Asia, Standard Chartered presented insights on Global Economic Outlook, while Saurav Anand, Economist, South Asia, presented the Bank’s outlook for Bangladesh, said a press release.
Despite growth slowing to a multi-decade low during the COVID-19 outbreak, Bangladesh’s economy remains on track to cross USD 500bn by 2025, the Bank’s analysis showed. The government’s fiscal stimulus and stable macroeconomic environment has cushioned the economy from the impact of the pandemic.
During his speech on the first day of the Road Show, Naser Ezaz Bijoy, CEO of Standard Chartered Bangladesh, said, “Bangladesh has been one of the top performing economies in Asia over the last decade. To put this in the context, it took 36 years for the GDP of Bangladesh to grow from US$8 Bn to $80bn, yet it took only 12 years to move from $80bn to $330bn. Under the current government, an incremental growth of 3 folds of Nominal GDP of 2008 was achieved in a third of the time, which is simply remarkable.
