GDP growth finally hit 6.55 pc in FY ‘14-15: Minister
03 February 2015, Nirapad News: The country’s GDP growth finally reached 6.55 percent in the last fiscal year (2014-15), which is 0.04 percent higher than the provisional GDP estimation of 6.51 percent, has said Planning Minister AHM Mustafa Kamal.
The minister said this while talking to reporters after an Ecnec meeting on Tuesday.
The provisional estimation of 6.51 percent for FY15 was made in April last year, said Mustafa Kamal adding that there is no force in the world which could say there is any kind of engineering in this final estimation process.
Asked whether the per capita income in the last fiscal year would increase due to the GDP growth rise, he said it will definitely increase, but in line with the slight GDP growth rise.
As per the provisional estimation, the per capita income in the last fiscal year (FY15) rose to $ 1314, which was $ 1190 in the fiscal year (FY14).
The GDP growth rate was the highest in the last eight years since 2007-08 when the GDP growth rate was 6.01 percent. The GDP growth in the following fiscal year, 2008-09, fell to 5.05 percent which, however, increased slightly to 5.57 percent in fiscal 2009-10.
The GDP growth in the fiscal year 2010-11 was 6.46 percent followed by 6.52 percent in 2011-12, 6.01 percent in 2012-13, 6.06 percent in 2013-14 and 6.55 percent 2014-15.
The country achieved a 7.06 percent GDP growth in fiscal year 2006-07, up from 6.67 percent in fiscal year 2005-06.
Asked how the economy fared better despite the three-month long turmoil last year from January to March, the minister said although there were turmoil, the economic activates did not remain stopped for a single day during the period. “The supply chain was not disrupted at that time.”
The Planning Minister also hoped that the government will be able to gain 8 percent GDP growth by FY 20.
According to the final calculation of the Bangladesh Bureau of Statistics (BBS), the overall size of the GDP at constant market price for the FY15 stood at Tk 8,248,624 crore which was Tk 7,741,361 crore in FY14 at constant market price.
The agriculture sector growth in the last fiscal year was 3.33 percent, which was 9.67 percent in the industrial sector and 5.80 percent in the services sector last time.
The GDP growth rate of the fishing sector in FY 15 was 6.38 percent, in mining and quarrying it was 9.60 percent, in manufacturing the growth was 10.31 percent, in electricity, gas and water supply, the growth was 6.22 percent. It was 8.60 percent in construction.