Bangladesh trade deficit to be $33 bn in FY22

The deficit had already widened to $27.56 billion during the first 10 months of fiscal 2022, the central bank said.

The country’s current account deficit is also likely to go from a $4.5 billion a year ago to $17.73 billion in this fiscal, as per the Bangladesh Bank’s projections.

Additionally, the bank recently raised its policy rate by 50 basis points to 5.5 per cent to manage the demand side pressures, making it the second hike in a month. On May 29, the bank had increased the rate by 25 basis points to 5 per cent after about a decade.

Fibre2Fashion News Desk (KD)