Bangladesh will not revise the 7.2 per cent gross domestic product (GDP) growth target for this fiscal despite a huge inflationary pressure on the economy, according to finance minister AHM Mustafa Kamal, who recently said the target will be set at 7.5 per cent in fiscal 2022-23 if the global economic situation—now largely clouded by the Russia-Ukraine war–does not deteriorate further.
"The economy is now on the line to achieve the target. The government would revise its target only if the global situation worsens further," the minister told journalists after chairing the cabinet committee on public purchase virtually.
The country's development partners such as the World Bank, the Asian Development Bank and the International Monetary Fund (IMF) have downsized the global growth forecast for this fiscal in their latest reports.
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