GDP growth target set at 6.75% for FY25
The government is optimistic that the country's GDP growth will be 6.75% for fiscal year 2024-25, nearly one percentage point higher than the outgoing year.
This projection comes despite a contractionary monetary budget, with an eye towards taming inflation.
Recently, the Bangladesh Bureau of Statistics projected that GDP will grow at 5.82% for the current fiscal year, down from the 7.5% projected in the budget.
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But after a review, the finance ministry lowered the target to 6.5%.
With an eye towards battling inflation, Finance Minister Abul Hassan Mahmood Ali unveiled a TkTk 7,97,000 crore national budget for the fiscal year 2024-25.
He presented the budget before the Parliament today (6 June).
Earlier in May, Prime Minister Sheikh Hasina had given the nod to the size of the budget.
The latest budget is contractionary, with a lowered GDP growth of 6.9%.
Usually, the size of a new budget increases by 10% to 12% compared to the current year's budget, but this time it will increase by less than 8%.
This is the 54th budget of the country.
