Global Journal of Management and Business Research, B: Economics and Commerce, Volume 23 Issue 1

The table 2 and chart 1 shows the remittance changings in July 2019 to June 2020. As we see in the chart and table remittance growth decline February as compare to January, remittance growth decline March as compare to February, remittance growth decline April as compare to March. We see that in March and April of 2020 remittance are computed 1276.26, 1092.96 respectively, and these amounts are lower than the previous months. c) Crisis on GDP Growth The World Bank (WB) on June 8 released a hard-hitting forecast for the global economic outlook for June 2020. The growth rate of GDP will fall to 1.6% in the current fiscal year. It may also fall sharply to 1% in the next (2021) financial year. Because of the coronavirus pandemic, the country's GDP growth rate will decline from a record 8.15% in the previous fiscal year to 1.6% in the current fiscal year. Earlier, the Economist Intelligence Unit (EIU) forecast that Bangladesh's GDP growth rate would be 1.6%. If the World Bank forecast to reduce GDP growth to 1.6%, it will be the lowest level in Bangladesh in 37 years. According to World Bank indicators (WDI) data, the country's GDP growth rate was 2.13 percent in the fiscal year 1981-82 (Mohsin Bhuiyan). Source: World Bank’s Website 1597.69 1444.75 1476.91 1641.67 1555.23 1691.68 1638.43 1452.2 1276.26 1092.96 1504.6 1832.63 0 200 400 600 800 1000 1200 1400 1600 1800 2000 IN MILLION US DOLLAR In Million US dollar 7.30% 7.90% 8.20% 1.60% 1.00% 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 9.00% 2017 2018 2019 2020 2021 Annual GDP Growth Annual GDP Growth Impact of COVID-19 on the Economy of Bangladesh 22 Global Journal of Management and Business Research Volume XXIII Issue I Version I Year 2023 ( ) B © 2023 Global Journals