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Economy healthy despite Covid

Published : 06 Aug 2021 10:55 PM | Updated : 07 Aug 2021 01:16 AM

Despite corona pandemic, Bangladesh turned into Tk 30,11,006 crore economy in the just-concluded 2020-21 fiscal year, up 5.47 percent higher than the previous fiscal , according to Bangladesh Bureau of Statistics (BBS).  

The growth target for the last fiscal year was 7.4 percent. Due to the Corona pandemic the target was later reduced to 6.1 percent.

Besides, the final GDP growth of the last 2019-20 fiscal year stood at 3.51 percent. In terms of money, the amount is Tk 27,39,033 crore. 

The government's GDP growth target for current fiscal year was 8.2 percent.

The per capita income of the people of the country has increased to $2,227 in the just-concluded 2020-21 fiscal year. 

In the previous fiscal year, the final per capita income was $2,024. Per capita income has increased by $203 in one financial year.

The BBS released the GDP growth data on Thursday. The BBS said the coronavirus infection situation has had a major impact on the economy. That is why, it was not possible to achieve the desired level of growth in the fiscal years 2019-20 and 2020-21. Even then, Bangladesh's position in these two financial years is much better than many countries in the world.

In this regard, Planning Minister MA Mannan said it is a little late to give the final account of the 2019-20 financial year because it has been approved at different stages. 

Corona pandemic is the main reason for the low GDP growth in that fiscal year, he said adding that, due to the impact of the Covid-19, the country's production was severely disrupted at that time. 

That is why, the growth has been much less, he mentioned.

Regarding the growth in the fiscal year 2020-21, the planning minister said, "Despite the Corona pandemic, our economy has turned around a lot in this fiscal year. That is why, there has been a slight increase in GDP growth. If this trend continues, we are hopeful that GDP growth will be more than 7 percent in the current 2021-22 fiscal year.”

According to the BBS, in the just-concluded 2020-21 fiscal year, the primary GDP growth in the agricultural sector has achieved 3.45 percent. 

As of the end of the 2019-20 financial year, this growth was 4.59 percent. 

Besides, the industrial sector has grown by 6.12 percent in the last financial year, which was 3.25 percent in the 2019-20 fiscal year. 

On the other hand, the growth in the services sector in the last financial year was 5.61 percent, which was 4.16 percent in the previous financial year.