Bangladesh’s economy may grow by 6.51% in current FY, first nine-month figure indicates

Bangladesh’s GDP may grow by 6.51 percent in the current fiscal year if the data of the first nine months of the ongoing fiscal year is any indication.

Planning Minister AHM Mustafa Kamal divulged the information at a press conference after a meeting of the National Economic Council (NEC) on Thursday.

He said the council approved a Tk 970 billion annual development programme (ADP) for the upcoming FY.

Kamal said: “We had fixed a target of 7 percent GDP growth for this year. We could have reached the target had there been no agitations and arson attacks during a major part of the year. 
 
“(But) 6.51 percent growth is also not bad.”

The government though had claimed after the end of the previous financial year that the growth rate was 6.12 percent, the planning minister, after review, later said it was 6.06 percent.

He said the GDP now stood at Tk 15.14 trillion at current price.

Kamal said ‘only four countries’, including Bangladesh, in the world had attained over 6 percent growth for six consecutive years.
 
He added: “It has been possible due to combined efforts of all. The business community of this country has not stopped doing business despite many adversities.

“Several CNG run auto-rickshaw drivers and ordinary people gave their lives. This growth has been attained because of their sacrifices.”

He said per capita income of Bangladeshis had increased to $1,314 from $1,190.

It now was $3,190 based on purchasing power parity.