The government has set the growth target of gross domestic product (GDP) at 7.3 percent for the upcoming fiscal year.
The target was set at 7.2 percent for the outgoing fiscal year but according to the preliminary estimate of Bangladesh Bureau of Statistics (BBS), the growth in FY 2013-14 will be 6.12 percent, the finance minister said in his budget speech, blaming political unrest for the failure to reach the target.
"Due to political unrest that continued from the previous year different sectors of the economy were adversely affected. As a result, achieving 7.2 percent growth will not be possible in this year."
While giving reasons for setting growth target at 7.3 percent, the minister expressed his hope that in the next fiscal investment, export and remittance flows will increase as it is expected that the global economy will experience accelerated growth.
"During this period, food and energy prices in the international market are likely to decline slightly."
Besides, an investment-friendly monetary policy will be maintained ensuring uninterrupted credit flows to the productive sectors, the minister said.
He said the government initiatives for developing physical infrastructure in the power, energy and communication sectors will continue and different initiatives will be undertaken for the development of skills and human resources.
"Fiscal, monetary and stock market reforms will go on. Foreign investment and assistance are expected to increase. Credit and input support will continue in the broad agriculture sector. Above all, I am expecting favourable weather and political stability."
The finance minister said the growth target in 2021 would be 10 percent.