Govt eyes 6.75% GDP growth in FY25

The government is eying attaining a GDP growth target of 6.75 percent in the next fiscal year (FY25) riding on pursuing all the prudent policy measures.

“It is expected that pursuing all the prudent policy measures will help achieve GDP growth of 6.75 percent in the next fiscal year and 7.25 percent in the medium term,” said Finance Minister AH Mahmood Ali while placing the budget for FY25 at Jatiya Sangsad Bhaban on Thursday.

He said the GDP growth is maintaining its momentum because of the implementation of prudent and appropriate policy measures. “The average growth rate between FY 2009-10 to 2022-23 was 6.71 percent, one of the highest among all countries in the world. It may be noted that the country achieved a record GDP growth rate of 7.88 percent in FY 2018-19 just a year before the Covid-19 pandemic.”

Ali said, “Despite all adversities caused by the Russia-Ukraine war and other global unrests, Bangladesh managed to achieve 7.10 percent, 5.78 percent and 5.82 percent (provisional) growth in 2021-22, 2022-23 and 2023-24 respectively which is a testament to the inherent strength of our economy.” 

To maintain this growth in the future, he said all reasonable supports will be continued to encourage agricultural and industrial production. 

Side by side, Ali said proper implementation of important infrastructural projects and adoption of appropriate action plan aimed at increasing export earnings and remittances will be helpful for achieving the desired GDP growth.

Source: BSS