Finance minister optimistic about 7.2pc GDP growth
Exports may hit record $48b, remittances may total $25b
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Finance Minister AHM Mustafa Kamal is upbeat about attaining 7.2 per cent growth in gross domestic product (GDP) in the current fiscal year, true to the target set in the budget, following economic rebound.
"We believe we will be able to attain 7.2-per cent growth," the minister told newsmen after a virtual meeting of the cabinet committee on government purchases.
His comment came a day after the International Monetary Fund (IMF) Sunday said Bangladesh's GDP growth this fiscal would be 6.6 per cent, revising its earlier projection little upward.
"You know the World Bank and the IMF are always conservative in this case (growth projection)," said the finance minister.
Mr Kamal mentioned that the IMF made another projection on Bangladesh's GDP growth for current fiscal year few months back and the latest 6.6 per cent is higher than that one.
He cites recent data that show that each and every economic parameter has considerable growth. "Our export saw unexpectedly high growth in recent months," he says, adding that this year's export earnings may reach $48 billion, setting a new milestone.
The minister noted that inbound remittance flow saw a slight fall recently, but if it continued to come at current pace, the total earning is expected to reach $21 billion by the yearend.
There are two Eid festivals this fiscal year, when, usually, high volume of remittance comes. "If the Eid-linked remittance found expectedly well, the total inflow may reach $25 billion."
Regarding the justification for holding road shows by the Bangladesh Securities and Exchange Commission (BSEC) in various countries when the stock markets are seeing severe volatile situation, the minister said visibility of its outcome would take time.
The road shows are held to showcase the country, he says, adding: "I don't believe stock market's progress is directly linked with the road shows."
"But I believe, there will have some impacts of the road shows on our country's image," he says and adds that Bangladesh's progresses are showcased by these events to the international community.
On repeated refusal to accept the proposals on buying tablet computers for conducting census the minister said the government wants to buy Bangladesh-made products instead of imported ones.
The authorities concerned have been asked to re-submit the proposal by incorporating some more info for the matter of clarity, he told the reporters.
The cabinet committee approved import of 1.6 million tonnes of crude oil from the United Arab Emirates (UAE) and Saudi Aramco and 1.29 million tonnes of fuel oil from PetroChina International, Singapore, Unipec Singapore Pte Ltd, and Vitol Asia Pte Ltd, Singapore, for the year 2022.
Also, the committee okayed supply and fitting and fixing of furniture to Green City Residential Complex of Ruppur Nuclear Power Project, among others.