‘Bangladesh’s economy to rebound in FY '22’

Staff Correspondent

14 February, 2021 12:00 AM printer

Bangladesh’s economic growth is set to bounce back in FY 2021 and rebound sharply in FY 22, aided by strong global growth, said Standard Chartered economists.

They made this remark during their presentation at an investor roadshow organised by Bangladesh Securities and Exchange Commission (BSEC) in Dubai recently.

Chief Economist, ASEAN and South Asia, Standard Chartered Edward Lee shed lights on Global Economic Outlook, while South Asia Economist Saurav Anand presented the Bank’s outlook for Bangladesh.

Despite growth slowing to a multi-decade low during the COVID-19 outbreak, Bangladesh’s economy remains on track to cross $500 billion 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 roadshow, Standard Chartered Bangladesh CEO Naser Ezaz Bijoy said, “It took 36 years for the GDP of Bangladesh to grow from $8 billion to $80 billion, yet it took only 12 years to move from US$80 Bn to US$ 330 Bn.

"This has been thanks to growing consumer spending, rapid growth in prosperity and per capita income, sustained progress on social indicators, and a fast-growing industrial sector driven by domestic manufacturing, and growing exports," he added.

"BSEC has been commendably driving the development of our capital markets, which will play an important role in mobilizing long-term financing for the sustainable growth of our economy," he added.

Standard Chartered  Bank Head of Financial Market Alamgir Morshed, spoke about the essence of development of bond market and various measures taken by the regulators to encourage participation of foreign institutional investors.

Standard Chartered, Islamic Origination Head Ali Ahsan presented a paper on Sukuk and its potential, during the session “SUKUK: The New Investment Opportunity in Bangladesh”.