The budget for FY2019-20 at the parliament has a size of Tk523,190 crore
Bangladesh government has set a target of 8.2% gross domestic product (GDP) growth for the next fiscal year (FY2019-20).
Finance Minister AHM Mustafa Kamal came up with the projection on Thursday while he was announcing the national budget worth Tk523,190 crore in the parliament.
He said in : “Our GDP grew consistently at a very high rate in the last decade. We expect a GDP growth rate of 8.13% in the outgoing fiscal year. Our aim is to achieve a growth rate of 10% by FY2023-24, and maintain that rate until 2041 so that we can lay a solid foundation for becoming a high income country by that time.”
To achieve this objective, the GDP growth rate has been projected at 8.2% for FY2019-20, said Kamal.
Last week, the World Bank kept Bangladesh’s growth rate for the outgoing fiscal year unchanged at 7.3% with strong infrastructure spending, private investment and domestic consumption.
However, the government estimated 8.13% GDP growth for FY2018-19 to end on June 30. During FY2017-18, Bangladesh had attained a 7.86% growth.