Says HSBC Chief Asia Economist Frederic Neumann
1 hour(s) ago
M
Mahmudul Hasan
Bangladesh has emerged from successive economic shocks with remarkable resilience and is now well placed to benefit from a gradual recovery in global demand, according to HSBC Chief Asia Economist Frederic Neumann.“Relative to where we were three months ago, we’re now much more comfortable, so much so that we’re actually going to see a mild consumer spending recovery in the rest of the world,” Neumann said in an interview with The Daily Star.“That should help Bangladeshi exporters see a gradual increase in growth.”His optimism follows a turbulent period marked by geopolitical conflicts, elevated energy prices and slowing global demand, which weighed on Bangladesh’s export-oriented economy.At a recent economic outlook event, the Hongkong and Shanghai Banking Corporation (HSBC) Limited forecast Bangladesh’s economy to grow by around 4.4 percent in fiscal year 2026-27, supported by easing global headwinds and domestic economic reforms.Neumann said the sharp decline in energy prices has significantly improved the global outlook.“The good news is that we’ve seen energy prices decline quite rapidly,” he said. “Consumers in Europe and the US will have a bit more money to spend, and that’s good news for Bangladeshi exporters.”“Last year was a bit choppy in terms of garment exports,” he said. “Now we have more predictability, particularly in the US, and together with lower energy prices that should help stabilise shipments during the second half of the year.”
