GDP growth to exceed target in FY23: Finance minister

Bangladesh's GDP growth in the forthcoming fiscal 2022-23 will exceed the target set in the proposed budget despite the economy feeling the heat of an unusual surge in inflation across the globe, Finance Minister AHM Mustafa Kamal has hoped.  

"This year's context is known to all – Covid-19, and the Russia-Ukraine war have contributed to an unusual rise in inflation in the global economy affecting more or less the economy of the country," said Mustafa Kamal while responding to the comments of the lawmakers made on the supplement budget at the parliament on Monday.

"Adjustment was made between the expenditure and deficit in the supplement budget taking all these into consideration. But the GDP growth target of 7.2% remains unchanged," he said.   

The minister also said the income-expenditure and other macroeconomic indicators are estimated in every budget outlay of the government with an aim to achieve the development targets. Then some reforms become necessary during the implementation process for logical reasons, he added.