GDP growth target set at 7.2% in FY22

Finance Minister AHM Mustafa Kamal has projected economic growth at 7.2 percent in the fiscal year 2021-22.

In his budget speech delivered in the parliament on Thursday, he said, “Despite the pandemic, the government has been able to maintain the macroeconomic stability of the economy with prudent fiscal policy and accommodative monetary policy.”

It is very encouraging for us that both the International Monetary Fund and the World Bank have upgraded the economic growth forecast for Bangladesh compared to their previous forecasts, he said.

the government revised down the GDP growth projection to 6.1 percent for FY21, sharply down from the original target of 8.2 percent, reflecting the devastating impacts of the second wave of the coronavirus pandemic on the ravaged economy.