Per capita income to hit $2,785 this FY

The country’s per capita income will reach $2,785 this fiscal year while the size of the economy will be $455 billion, Finance Minister AHM Mustafa Kamal said on Sunday.

“In the next FY, per capita income will reach $3,089 and the economy will touch the milestone of $500 billion,” the minister said while briefing the media after a virtual meeting of the cabinet committee on economic affairs and government procurement.

Per capita income in Bangladesh stood at $2,554 in the 2020-21 fiscal year, according to data released by the Bangladesh Bureau of Statistics.

Kamal said the GDP (gross domestic product) growth rate was 5.43 per cent last year and hoped that it would be 7.2

Speaking about investment opportunities overseas, he said it is better to allow the businessmen to invest abroad legally rather than dealing with hundi and money laundering.

“Investing abroad is a good initiative. It will create more employment opportunities for the countrymen,” Kamal said.

When asked about the 25 per cent fall in local and foreign investment, the minister said, “Bangladesh is among the developing countries now, and developing countries reveal the foreign exchange rate slowly. It is done for investment. We are also walking that path.”