Meru Sikder: New York
The forecast came in the Washington-based lender’s Global Economic Prospects report, which was released yesterday.
“Inflation is likely to remain elevated, weighing on private consumption. As foreign exchange reserves are likely to stay low, import restrictions are expected to continue and impede private investment,” the WB said.
In contrast, public investment is envisaged to remain resilient.
The economic growth is expected to rise in the next financial year as inflationary pressure recedes, the report said.
