Finance Minister AHM Mustafa Kamal expected that the country’s GDP growth rate for the current fiscal year set at 7.2 percent will be achieved as the country’s economy is in a strong position now despite global crisis.
“We're keeping same our GDP growth projection, which is 7.2 percent for the current fiscal year and 7.5 percent for the next fiscal year (FY23). If the trend goes downward, then we may have to revise it. Until then, the growth projection
of 7.2 percent for the current fiscal and 7.5 percent for the next fiscal will remain the same,” he said.
The Finance Minister made the remarks while responding to queries after chairing the meeting of the Cabinet Committee on Government Purchase (CCGP) held on Wednesday.
In the meeting, the purchase committee approved six proposals including one for procuring some 3.75 lakh metric tons of fuel oil at a cost of Tk 4,054.38 crore to meet the growing demand of the country.
Briefing reporters after the meeting virtually, the Finance Minister said commodity prices have witnessed upward trend across the globe due to some disruptions mainly because of the Russia-Ukraine war while Bangladesh is also integrated with the global transaction system.
“Hopefully, the war will stop and the world will stabilise and the prices of goods in Bangladesh will come down,” he mentioned.
The Finance Minister said, “We are thinking how to bring the inflation rate in the country to a tolerable level. The country’s economy is in a strong position now. The situation will get better if the Ukraine-Russia war stops.”
Responding to another query, he said the government is yet to take any fresh decision regarding subsidy management while any further decision on inflation management would be disclosed in due time.
He also told a questioner that the budget deficit would remain within the fiscal target.
Kamal said although Bangladesh is integrated with the global system, the country is still in a good shape by the grace of the Almighty Allah.