"With data showing exports regaining momentum in the coming months, robust domestic demand and growing remittance inflows, the country's gross domestic product will grow at 5.5 to six percent, as we projected last July," he said. The IMF in October said Bangladesh's economic growth this fiscal year would be the lowest to be logged by the country since 2001-2002, when the economy grew by 4.4 percent.
The IMF projection was based on shrinking exports and a declining outflow of migrant workers. The South Asian nation's economy grew 5.9 percent the 2008-2009 fiscal year, the slowest rate since 2001-2002, as output cooled due to the global economic slowdown.
The country's army of more than 6.5 million overseas workers sent back a record 10 billion dollars in 2009, boosting spending at home and sending foreign exchange reserves soaring. The World Bank has said the country needs to grow at seven percent annually to halve the level of poverty by 2015.