Published:  01:46 AM, 15 November 2017

GDP growth hits record 7.28%

Breaking all the previous records, Bangladesh has finally registered the highest-ever 7.28 percent GDP growth in the last fiscal year (FY17).  "The GDP growth finally stood at 7.28 percent in the last fiscal," said Planning Minister AHM Mustafa Kamal.

The minister was briefing journalists after the Ecnec meeting held at the NEC conference room in the city with Ecnec Chairperson and Prime Minister Sheikh Hasina in the chair.  

"The full and final statistics will be disclosed in detail on Thursday,"  he said.  The government had set a growth target of 7.2 percent for 2016-17 fiscal. In the 2015-16 fiscal year, the GDP growth was 7.11 percent with the size of Tk1,732,864 crore and per capita income at $1,465, or Tk118,131.04.

Kamal also informed that the per capita income also increased to $1610 last fiscal year, up from the provisional estimate of $1602. Besides, he said, the size of the GDP now stands at $250 billion, but it took around 34 years after the War of Independence to lift the country's GDP size to $100 billion. "Given the fact, it's a record achievement."

He said the per capita income has increased due to the increase in the GDP growth. Apart from Bangladesh, the minister said, Cambodia and Ethiopia have attained over 7 percent GDP growth in much lesser time among the other countries of the world.

Among the three major sectoral growth, he said the industry sector achieved the highest growth of 10.22 percent in the last fiscal year followed by 6.69 percent by the services sector and 2.97 percent by the agriculture sector.He also expressed his high hope that the country's GDP growth will reach over 8 percent by 2019 while it would remain within 9 to 10 percent by 2030.

"If we can maintain that, then we'll be able to attain our real target of 2041 (becoming a developed country),"the minister added.

The minister also disclosed partially the inflation statistics for September, which stood at 6.04 percent, slightly higher than the 6.02 percent registered in August. The inflation statistics included the overall food and non-food items.

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