7% GDP growth projected
19 December 2015, Nirapad News: Bangladesh Bank (BB) governor Atiur Rahman said Bangladesh’s gross domestic product (GDP) is projected at 7 percent in the current fiscal year as investment is gearing up.
He made the projection at concluding program of second batch of Basic Training Course 2015 arranged at Bangladesh Bank Training Academy (BBTA) in city’s Mirpur area Thursday.
The governor said, ‘Despite different barriers, we were able to bring down the defaulted loan rates to one digit. Provision coverage against defaulted loans has increased to 95 percent. Now, there is no liquidity crisis in the banking sector’.
‘Moreover, call money rate is only 3 to 4 percent’, he added.
‘The rate of capital goods import is increasing. Interest rate spreads decreased to 4.77 percent. This spread is decreasing gradually. Our exchange rate remains stable for a long time.’
‘Inflation is also decreasing. The rapidity is coming in the investment. If investment remains increased, growth must increase. So, our growth rate will be 7 percent this year,’ Dr Atiur opined.
Regarding change in the central bank, the BB governor said that BB and the banking sector has undergone massive changes with the goal of making Bangladesh a middle-income country by 2021 and a developed country by 2041.
‘We have taken a number of initiatives and development activities. Through the development in the country BB has been established as a modern and digitalized the central bank.’
Dr Atiur Rahman said, ‘BB has been established as a digitalized institution and the banking sector as ICT sector through implementing Automated Clearing House, electronic fund transfer, mobile banking, online CIB, online banking, e-commerce, ERP, Core Banking Solutions, Enterprise Data Warehouse, the national payment switch and Real Time Gross Settlement’.
With BBTA principal KM Jamsheduzzaman in the chair, BB deputy governor Naznin Sultana was also present as special guest.