GDP growth set at 7.5pc for FY 24

Finance Minister AHM Mustafa Kamal, in the proposed budget, has set the country's Gross Domestic Product (GDP) growth at 7.5 per cent for the upcoming fiscal year 2023-24.

“On the whole, we expect to return to higher growth trajectory and achieve a 7.5 percent GDP growth in the coming fiscal year, by way of investing in the productive sectors and stimulating productivity and domestic demand,” he said during the budget speech in parliament on Thursday.

“To achieve the growth target, we will gradually come out of the contractionary policy and invest in ongoing and new growth-inducing projects including the mega-projects. For this purpose, the budget of the next fiscal year has set a higher target of raising the public investment to 6.3 percent of the GDP.

“At the same time, investment will continue to be facilitated in economic zones with an investment-friendly environment consisting of various facilities such as undisputed land, improved infrastructure, uninterrupted utilities, financial incentives and ease of doing business, etc.”

The finance minister has unveiled the proposed national budget of over Taka 7.61 lakh crore for the fiscal year 2023-24 at the Jatiya Sangsad around 3 pm.

/MHK/