Finance Minister AMA Muhith has ruled out the International International Monetary Fund (IMF)’s economic growth projection for the current fiscal year.
While talking to reporter at the NEC conference room after the meeting with donors, he firmly said: “IMF’s forecast never becomes true and its observation is void of reality. Just wait and see. Gross Domestic Product (GDP) growth must be 7% this time.”
Muhith said: “IMF always keeps its predication on Bangladesh economy low, but when we achieve our target, they echo us.” “ADB and World Bank forecasts are close to us.”
He said the country’s economy is on track, everything is going well.
“We are implementing big projects with our own fund, which proves our capacity. This is the message to the donors.”
Last week, IMF in its mid-term review downgraded economic growth to 6.3% for this fiscal year from 6.8% as foretasted in October last year. The projection is much lower than the government target of 7% for the current fiscal year.
In October, World Bank projected 6.5% economic growth for FY’16 while Asian Development Bank 6.7% in September.