South Asia to grow by 7.2 percent: World Bank

The economy of the South Asian region is expected to grow by 7.2 percent in 2021 and 4.4 percent in 2022, the World Bank said in a report, adding the countries in the region are recovering but it remains “fragile.” Significantly, the World Bank revised its growth upward for Nepal, Bangladesh, and Pakistan given the good remittance flow in these countries. The GDP of Bangladesh is likely to increase by 3.6 percent in the year 2021-22, it says. India, on the other hand, is expected to grow by 10.1 percent, Nepal 2.7 percent, Pakistan 1.3 percent. However, Bhutan is projected to record a negative growth rate of 1.3 in 21-22.