Economy back on track: Muhith

The Bangladesh economy is back on track after coming under strain in the first half of the current fiscal due to political unrest, Finance Minister AMA Muhith has said.

He says he wants to maintain the present pace of progress as he foresees a significant scope of growth in the next five years.

“Bangladesh’s economy is back on the right track, and that should be maintained at any cost,” he told the ruling Awami League’s US unit leaders in Washington on Sunday (local time).

He said there was a great deal of optimism about Bangladesh’s economy at the annual 'Spring Meetings' of the World Bank held recently in the US capital.

The global lender was eager to finance new projects in the country, he said.

Muhith attributed this growing international confidence to “the satisfactory progress of existing projects and the ensuring of accountability in almost every project”.

He said the Padma Multipurpose Project did not need foreign funds, but added the government would not hesitate to receive them if anyone were to make an offer.

Muhith said Bangladesh's foreign exchange reserves, which crossed the $20 billion mark for the first time last week, was an indication of country’s economic strength.

“The upcoming budget will be self-reliant. The contribution of foreign assistance in the budget of over Tk 2 trillion will be only 1.08 percent,” Muhith said.

US chapter Awami League President Siddiqur Rahman, Executive Member Shahanara Rahman, Washington unit AL General Secretary Mahmudun Nabi Baki, Maryland AL President Sheikh Selim and General Secretary Mainul Hasan Taposh attended the meeting.