Bangladesh government says it will implement the remaining 72 percent of its Annual Development Programme (ADP) within the next six months of the ongoing fiscal.
Published : 08 Jan 2015, 06:33 PM
Planning Minister AHM Mustafa Kamal said on Thursday that 28 percent of Tk 860 billion ADP had been executed in the July-December period.
Only 25 percent of the ADP was implemented during the same period last fiscal.
"Bangladesh economy is moving forward at an unbelievable pace," Kamal claimed.
He believes political unrest will not be a problem in implementing the ADP in the remaining months of the current financial year.
"No one can stop us. We'll overcome any political or social turmoil and move ahead," the minister said.
The ADP has never been fully implemented in Bangladesh.
"I've taken it as a challenge," he said. "We'll properly fulfil this target."
The government always revises the ADP. Ninety-three percent of last year's revised ADP was implemented.
He argued that the implementation rate was always slow in the first half of the fiscal.
"But the pace picks up towards the end of the year," he added.
7% growth target
The planning minister hoped Bangladesh would achieve a seven percent growth, even as the year began with a spate to political unrest.
"Our GDP growth will cross 6 percent given the way the economic indices are moving forward.
"This time, it will not be below 7 percent, no matter what the Bangladesh Bank, World Bank or the ADP predict," Kamal said.
Economists fear 7.3 percent growth cannot be achieved unless investment increases.
Bangladesh Bank predicted a 6.5 percent growth, while the World Bank pegged it at 6.2 percent and the Asian Development Bank at 6.4 percent.
"We've been stuck at 6 percent GDP growth for nearly a decade. Our expatriates' income rose by over 10 percent in the last six months.
"Export income in November-December was $5 million. At this rate, we'll achieve our $33 billion export earning target by the end of this fiscal.
"That's why we hope to achieve a 7 percent GDP growth," the planning minister explained.