Finance minister says growth target has been exceeded in the current fiscal year
The national budget for fiscal year 2018-19 has set a growth target of 7.8% for the economy.
Finance Minister AMA Muhith is presenting the budget, his 12th and largest ever, to parliament now, this Thursday afternoon.
In FY2016-17, the government's GDP growth target was 7.4%, and Muhith reported that according to final estimates of the Bangladesh Bureau of Statistics (BBS), growth stood at 7.65%.
“A solid domestic demand induced by increased personal consumption and government expenditure has made positive impact on growth. Furthermore, the upward trend in global growth and trade will stimulate our exports, foreign remittance flow and foreign investment,” he said.
The base for GDP growth was updated to 2005-6 in 2013. Before that the base was 1995-96.