Dhaka, Oct. 6 -- The World Bank has further lowered its gross domestic product (GDP) growth forecast for Bangladesh.

The global lender said Bangladesh may achieve a GDP growth rate of 3.4 percent in the 2026-27 fiscal year, which began on Jul 1, primarily driven down by a severe drought in investment.

This revised forecast falls below the growth rate recorded during the height of the COVID-19 pandemic.

In the 2019-20 fiscal year, the country recorded a 3.45 percent GDP growth rate -- previously its lowest on record.

The agency, however, projected that economic growth could modestly recover to 3.9 percent in the 2027-28 fiscal year.

The projections were released on Tuesday in the October edition of the World Bank's Bangladesh Developm...