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Muhith eyes 7.2 pc GDP for next FY
Finance Minister AMA Muhith on Thursday began his budget speech in Parliament with a high note that the GDP growth in the new fiscal year is going to reach the seven percent mark finally surpassing the six percent growth trajectory.
“We had targeted 7.0 percent GDP growth for the current fiscal year (2015-16). Meanwhile, a provisional estimate released by BBS for current fiscal year reflects a growth of slightly more than 7.0 percent,” he said adding, “We’ve set the GDP target at 7.2 percent for the next fiscal year (2016-2017).
The minister said the government is going to achieve it thanks to its relentless efforts. “Not only that, Bangladesh has made remarkable strides towards socioeconomic progress during the last seven years, despite global economic adversities. With the increase in per capita GDP, poverty declined significantly during this period,” he said.
At the same time, Muhith said, the government achieved enviable progress in many social indicators. “Especially, in terms of human development index, we are now at par with the countries having per capita income e twice as big as ours.”
As a result of stable economic growth, the minister said, Bangladesh has graduated to the status of lower-middle income country.
Mentioning that he turned 83 in January this year, Muhith said it is a matter of great joy and pride for him to have the opportunity of placing 10 national budgets altogether in the Parliament including the proposed one. “Of which, eight budgets have been formulated during the tenure of the government of Prime Minister Sheikh Hasina.”
He also expressed his gratefulness to the Prime Minister for giving him this opportunity.
“I’d the opportunity to formulate two budgets for the government of former President Hussain Muhammad Ershad 34 years back, for which, I express my gratitude to him also.”