Economy

Bangladesh cuts GDP growth target to 6.7% as economic crisis bites

Lower forecast comes as government announces 'cautious' $67.5bn budget

20240607 Hasina

Bangladesh Prime Minister Sheikh Hasina's cash-strapped government took a $4.7 billion loan from the International Monetary Fund. (Nikkei montage/Source photos by Reuters)

FAISAL MAHMUD, Contributing writer
June 7, 2024 15:07 JST

DHAKA -- Bangladesh has cut its annual GDP growth target and pledged to rein in spending as the country grapples with an economy beset by soaring inflation, unstable exchange rates and rapidly depleting foreign reserves.

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