• Wednesday, Jul 17, 2019
  • Last Update : 11:57 pm

FY20 budget aims to achieve 8.2% GDP growth

  • Published at 04:02 pm June 13th, 2019
Web_GDP Growth 2019-20
This year, the government is expecting a growth rate of 8.13%, with a goal to achieve a double digit growth rate by FY2023-24 Md Manik

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.