Bangladesh will be the 19th largest economy in the world in 2028: IMF

The International Monetary Fund (IMF) has predicted that the economy of Bangladesh will be boosted from next year. According to the agency, Bangladesh’s gross domestic product (GDP) growth will begin to increase from 2025. At the same time, the ongoing trend of high inflation will begin to decline. As a result, Bangladesh’s contribution to the world economy will increase. By 2028, Bangladesh will rank 19th in the world economy. Currently, Bangladesh is ranked 25th.

The economy of Bangladesh has been predicted in the April edition of the World Economic Outlook 2024 prepared for the annual meeting of the IMF with the World Bank recently. According to the forecast, the economy of Bangladesh is on the verge of a historic milestone.

According to the IMF report, Bangladesh’s economy will grow to 0.84 percent of global GDP in 2023, which is expected to grow by 0.17 percentage points over the next five years. As a result, Bangladesh will contribute 1.01 percent to the world GDP in 2028.

According to IMF, the GDP of Bangladesh will increase by 245.52 billion dollars in the next five years. This trajectory of Bangladesh will take Bangladesh to the 19th position in the world in terms of economic size.

In the next five years, Bangladesh will surpass the economies of Iran, Thailand, Australia, Poland, Taiwan and Pakistan.

According to the report, Bangladesh’s GDP will reach 691.86 billion dollars in 2028, which will increase by 55 percent from 446.34 billion dollars last year. A 48 percent increase in GDP per capita and a 54 percent increase in the value of economic activity based on purchasing power parity (PPP) dollars.

According to the IMF, the economy of Bangladesh has grown by 6 percent in 2023. But this year GDP growth will be slightly lower.

According to them, the GDP growth of Bangladesh in 2024 may be 5.7 percent. However, the GDP growth of Bangladesh will start increasing again from 2025. In 2025, the GDP growth of Bangladesh may be 6.6 percent. It may be 7 percent in 2028 and 2029. Inflation may also come down.

According to the agency’s forecast, average inflation will stand at 9.3 percent in 2024. That is, even though high inflation continues in Bangladesh this year, it will decrease to 5 and a half percent in 2028 and 2029. This will improve the economy of Bangladesh. As a result, Bangladesh’s contribution to the world economy will increase.

According to the IMF report, in 1980 Bangladesh was ranked 44th in the world economy with a growth rate of 0.376 percent. Although there were some fluctuations, the position of Bangladesh remained almost at the same place until 1997. In 1998, Bangladesh ranked 42nd behind Ukraine and Romania.

Today’s News/SH