The World Bank recently predicts global GDP growth according to the fiscal year of 2019-20. This prediction shows that Bangladesh will boost with strong economic growth and surpass countries like India, Pakistan and even China! This is reflected in a report by WB Global Economic Prospectus. Meanwhile, the report was published on January 8th on the World Bank’s website.
According to the World Bank’s report, the GDP growth of Bangladesh will remain at 7.3 percent in 2022. The World Bank also predicts GDP growth rate in Bangladesh, Pakistan, and Afghanistan to improve as a fare business environment and increase investment in infrastructure sectors.
The World Bank also adds that as the uncertainty grows because of the US-China trade war, the US GDP growth rate will be slightly reduced to 1.8 percent. The World Bank thinks that investment is not coming from non-bank financial institutions in India. And this situation will remain for a much longer period. As a result, the pace of growth of India will be slightly less than 5 percent in the financial year 2019-20. But in the next financial year, it will rise again to 5.8 percent. And in Pakistan, the GDP growth is likely to be 2.4 percent in the financial year. In the next financial year, it may increase to 3 percent.
It is estimated that there may be a slowdown in GDP due to the decline in industrial activity in the eurozone. According to the World Bank’s report, the slow pace of investment and trade has shown down the pace of global economic growth.