No negative growth in any area of the economy: Kamal

No Negative Growth In Any Area Of The Economy: Kamal

Finance Minister AHM Mustafa Kamal has said that there is no sector of Bangladesh’s economy witnessed negative growth, although the global economy was hit hard by the pandemic.

He said this while briefing reporters on the outcomes of the two consecutive meetings of the Cabinet Committee on Economic Affairs and the Cabinet Committee on Public Purchase held virtually on Thursday.

“You can easily find a calculation of the economy. There is no inflation while our exchange rates have remained stable. When globally remittance was facing tough times, our (inward) remittance achieved a 15 per cent growth”, he added.

He also said that the country’s revenue generation obtained 30 per cent growth while the import and IT sector witnessed growth too.

Kamal said though remittance is not considered while calculating the GDP growth, it is considered while calculating per capita income.

“These are the areas of the economy…If there was any negative growth, it will be reflected into the economy,” he said.

Referring to his budget speech, the finance minister said his prediction in the previous FY2020-21 proved correct in the economic growth. The predictions were close to the World Bank’s projections.

He said it was possible because of the people’s participation and efficient leadership of Prime Minister Sheikh Hasina.

“Our expansionary monetary policy has played a role in this regard. We followed this policy when many countries in the world didn’t dare to take this path”, he said adding, these were reasons for the economic growth.

He said that whatever the way you calculate the economic growth, finally you find the same result. “We have given the clarifications.”

Kamal said somebody may say that it was not a correct calculation, but you can yourself see our achievements.

“Nobody can show this achievement anywhere”, he said.