The update warned of looming external and domestic risks. It said China's economic transformation, fall in commodity prices, elusive increase in US interest rates and increased geopolitical tension in Middle East, Ukraine or Africa may affect growth. Prolonged slower growth in the advanced and emerging markets may adversely impact the garments exports and widen trade deficit.
The World Bank (WB) has predicted near-term macroeconomic outlook stable for Bangladesh, but warned about both domestic and external risk factors.#
The Trans-Pacific Partnership might pose further threat for Bangladeshi RMG products in the US in the medium-term. Public insecurity, political uncertainty and tightening of supply side constraints can also hurt growth prospects. Financial sector vulnerability includes increase in non-performing loans to total loans, problematic corporate governance in banking, and restricted access to credit for doing business, it said. (SH)
Fibre2Fashion News Desk – India
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