Govt sets 7.2pc GDP growth target for next FY

The government has set 7.2 per cent gross domestic product growth target for the fiscal year 2021-22.

Finance Minister AHM Mustafa Kamal placed a proposed a budget of Tk 6,03,681 crore for FY22 in Parliament on Thursday.

“The GDP growth rate was originally estimated to be 8.20 per cent for the fiscal year 2020-2021 on the assumptions that the economy would recover from the impacts of the coronavirus pandemic. But economic activities slowed down and the expected momentum in import and export activities did not take place,” said the minister in his budget speech.

However, considering the growth in remittance and disbursement of 35 large stimulus packages by the government to facilitate economic recovery, the GDP growth rate was revised at 6.1 per cent for the current fiscal year, said the minister.

The estimated growth rate for the next fiscal budget is consistent with the government’s long-term plan taking the post-coronavirus situation into account, he added.