Bangladesh’s Health Sector to get top priority, Budget project 8.2 percent growth

The government of Bangladesh has set a target of 8.2 percent GDP growth rate for the Fiscal Year 2020-21. Presenting the budget in the Bangladesh Parliament Jatiya Sangsad on Thursday, Finance Minister AHM Mustafa Kamal set a target growth rate of 8.2 percent for the economy for the next fiscal year amid predictions by the World Bank that growth rate is likely to slump to 1.6 percent in the current Fiscal year.

Placing the Taka 5.68 lakh crore budget proposal in the parliament, the Finance Minister outlined the four pronged strategy of the government to achieve this ambitious target. The strategy includes discouraging luxury expenditure and priority to job creation in government expenditure, creation of loan facilities at subsidized interest rate, expanding social safety net and increasing money supply while balancing the inflationary pressure in the economy.