Macroeconomic Forecast Bangladesh

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We maintain our 5.5% GDP growth forecast for FY2009/10 (July-June) after the economy grew by an estimated 5.9% in the previous fiscal year. As before, falling garments exports and remittances will be the main channel of transmission for the global economic crisis, while the ability of the government to support growth will be limited. Nevertheless, the economy should benefit from comparatively lower commodity prices in H209 and 2010 as well as period of relative stability on the political front.