Kamal hopeful of 6.1pc growth in FY21

Refuting a subdued growth forecast of the World Bank (WB), Finance Minister AHM Mustafa Kamal on Wednesday insisted that Bangladesh GDP growth will be more than 6.1 percent in the outgoing FY21, the highest in South Asia.

“We’ve to see first whether World Bank’s predictions were correct in the past. We’ve not seen any similarity of those forecasts with reality even after some plus and minus,” the finance minister said after a Cabinet Committee meeting.

Kamal’s comments came a day after the global lender made a new forecast on Bangladesh economy that its growth will slum to 3.6 percent in outgoing FY21.

It also said the growth will rebound to 5.1 percent in FY22 mainly driven by higher consumption and resumption in economic activity, RMG exports and low inflation.

“We hope that we will be able to achieve the growth projected for 2021-22 fiscal year. We’re also expecting a 6.1 percent growth in the current fiscal year,” he stated.

About the ground for his confidence for a 6.1 percent growth in FY21, he referred to positive turnover in macro-economic indicators in the ending months of May and June.

“This growth will be the highest in South Asia. It is a matter of some days only. You will see whether it is correct or not,” an upbeat Kamal said.