IMF puts `16 economic growth at 6.9pc

Bangladesh`s economy would grow at the rate of 6.9 per cent in 2016, which would remain unchanged until 2017, according to the World Economic Outlook (WEO) 2016 of the International Monetary Fund (IMF), reports BSS.

The IMF`s forecast, released Tuesday, is near the government`s estimate of 7.0 GDP (gross domestic product) growth for the fiscal year 2015-16 ended in June last.

Bangladesh Bureau of Statistics (BBS), however, estimated the growth at 7.05 while the Asian Development Bank (ADB) revised its growth forecast for Bangladesh upward to 7.05.

The IMF growth estimate for Bangladesh is marginally lower than others when the organisation also forecasts "stifling growth" in advanced economies.

The WEO highlighted the precarious nature of the recovery eight years after the global financial crisis. It raised the spectre that persistent stagnation, particularly in advanced economies, could further fuel populist calls for restrictions on trade and immigration.

"In emerging market and developing economies, growth will accelerate for the first time in six years, to 4.2 per cent, slightly higher than the July forecast of 4.1 percent. Next year, emerging economies are expected to grow 4.6 percent," the IMF said.