Inflation target set low at 5.5pc

The government eyes a low inflation rate of 5.5 percent for the next fiscal year and a GDP growth of 8.2 percent.

Finance Minister AHM Mustafa Kamal said the government aims to reach a GDP growth of 10 percent in four years and maintain that momentum until 2041 ‘so that we can lay a solid foundation for becoming a high income country by that time’.

The government’s estimate for this fiscal year’s growth is 8.13 percent and the inflation till March was 5.5 percent.  

In explaining the growth momentum, the finance minister said the main source of growth is the strong domestic demand.

“Our main attention will be on increased domestic demand through consumption and investment, and increased external demand by enhancing exports,” he told the parliament.