The economic activity in Bangladesh will decelerate sharply over the next 18 months in the aftermath of COVID-19 outbreak, global ratings agency Moody's has predicted. Domestic activity restrictions during the national lockdown will hamper consumption and investment and the weak global economy will lead to declines in RMG exports.
In fiscal 2020, the real GDP growth will slow to 4.6 percent. The Moody's projected slowing growth at 4.2 percent in fiscal 2021.
For the past 10 consecutive years, the credit rating agency has rated Bangladesh's outlook as stable. If there is a marked deterioration in the government's fiscal position, the Moody's said the rating could be downgraded. If there is an improvement which is durable and substantial in the country's finances beyond current expectations, the rating could be upgraded.
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Published on May 19, 2020 7:43 PM (GMT+8)Last Updated on May 19, 2020 7:43 PM (GMT+8)
