Bold reforms essential for quality jobs, inclusive growth in Bangladesh: WB
Staff Correspondent
Bangladesh's post-pandemic recovery remains challenging due to high inflation, a balance of payments deficit, and limited job opportunities, especially for women and educated youth, says the World Bank in its latest Bangladesh Development Update published today.
The report highlights a moderation in GDP growth to 5.2% in FY24, with projections of further deceleration to 4.0% in FY25. Inflation averaged 9.7% in FY24, driven by high food and energy prices.
Job creation, particularly in urban areas and key sectors like garments, has stagnated, with Chattogram, Rajshahi, and Sylhet facing net employment losses since 2016.
The World Bank emphasises urgent reforms in economic governance, financial stability, and improving the business environment as crucial for Bangladesh to return to a strong, inclusive growth trajectory with quality job creation for its youth.
